Gilead Sciences, the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Joseph Stringer from Needham maintained a Buy rating on the stock and has a $140.00 price target.
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Joseph Stringer has given his Buy rating due to a combination of factors surrounding Gilead Sciences’ recent advancements in HIV treatment. The company announced that its Phase 3 ARTISTRY-1 trial for the bictegravir/lenacapavir (BIC/LEN) regimen in virologically suppressed HIV patients met its primary endpoint of non-inferiority. This development is significant as it indicates the potential for BIC/LEN to serve as a viable treatment option for patients on complex regimens.
Moreover, Gilead is strategically positioning itself to address market segments that its current leading product, Biktarvy, cannot reach. The ongoing ARTISTRY-2 trial and the anticipated results by the end of 2025 further bolster the company’s prospects. With these trials forming the basis for regulatory filing in 2026 and potential approval in 2027, Gilead is well-placed to mitigate the impact of Biktarvy’s expected loss of exclusivity in 2036. Consequently, Stringer has raised his price target for Gilead, reflecting increased confidence in the company’s future revenue from its next-generation HIV treatments.
In another report released yesterday, Scotiabank also initiated coverage with a Buy rating on the stock with a $140.00 price target.