In a report released today, Joseph Stringer from Needham maintained a Buy rating on Gilead Sciences, with a price target of $140.00.
Claim 50% Off TipRanks Premium and Invest with Confidence
- Unlock hedge-fund level data and powerful investing tools designed to help you make smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis so your portfolio is always positioned for maximum potential
Joseph Stringer has given his Buy rating due to a combination of factors related to Gilead Sciences’ recent clinical trial success and strategic positioning in the HIV treatment market. The ARTISTRY-2 trial, a Phase 3 study, met its primary endpoint by demonstrating that the combination of bictegravir and lenacapavir is non-inferior to the current standard of care, Biktarvy. This outcome strengthens Gilead’s long-term strategy in the HIV sector, as the regimen is expected to be particularly beneficial for virologically suppressed patients and those seeking a convenient switch option.
While the new regimen is not anticipated to replace Biktarvy, which holds a significant market share, it is seen as a valuable addition to Gilead’s HIV portfolio. The successful trial results bolster confidence in the company’s ability to expand its offerings and maintain a competitive edge in the market. This strategic expansion is viewed positively, contributing to the Buy rating as it positions Gilead for potential regulatory approval and market launch in the coming years.
Stringer covers the Healthcare sector, focusing on stocks such as Gilead Sciences, Moderna, and Ionis Pharmaceuticals. According to TipRanks, Stringer has an average return of 23.8% and a 47.23% success rate on recommended stocks.