Gilead’s Sunlenca could expand into broader HIV, says Piper Sandler

Piper Sandler analyst Do Kim made no change to the firm’s Overweight rating or $104 price target on Gilead shares after the FDA approved Sunlenca for heavily treatment-experienced HIV ahead of the December 27 PDUFA date. The analyst expects strong Sunlenca uptake, and expects that expansion into the broader HIV market, including prevention, will provide a better sense of patient demand for an injectable with less frequent dosing than standard oral therapies, Kim tells investors in a research note.