BMO Capital analyst Evan Seigerman maintained a Buy rating on Gilead Sciences today and set a price target of $135.00.
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Evan Seigerman has given his Buy rating due to a combination of factors that highlight Gilead Sciences’ promising future prospects. A key element in his assessment is the company’s strategic focus on diversifying its portfolio beyond its established HIV business, with significant potential growth anticipated in its oncology franchise. This expansion is particularly driven by promising developments such as Trodelvy and the upcoming anito-cel, which are expected to contribute to Gilead’s long-term growth.
Furthermore, Seigerman points out that Gilead’s current market valuation is at a discount compared to its large-cap peers, suggesting an attractive investment opportunity. The anticipated pivotal data from the Phase 2 iMMagine-1 study at the upcoming conference is expected to provide further clarity on the competitive positioning of anito-cel in the relapsed/refractory multiple myeloma market. This potential for growth and diversification underpins Seigerman’s positive outlook and Buy rating for Gilead Sciences.
Seigerman covers the Healthcare sector, focusing on stocks such as Bristol-Myers Squibb, Novo Nordisk, and Pfizer. According to TipRanks, Seigerman has an average return of 7.8% and a 51.22% success rate on recommended stocks.
In another report released today, Truist Financial also maintained a Buy rating on the stock with a $140.00 price target.