Gilead price target raised to $105 from $95 at Oppenheimer

Oppenheimer analyst Hartaj Singh raised the firm’s price target on Gilead to $105 from $95 and keeps an Outperform rating on the shares after spending time with the company’s CMO, IR, and investors. Leading discussions was Gilead’s focus on its foundational asset and pipeline-in-a-product opportunities, such as Trodelvy, magrolimab, and domvanalimab+zimberelimab. TIGIT and the competitive landscape around it stole the show on the heels of the positive update from the fourth interim analysis of the Phase 2 ARC-7 trial, Singh notes. He awaits full data rationale behind the extensive list of combinations, the company’s ambitious goals to derive over 1/3 of 2030 revenues from oncology was reiterated.