Analyst Courtney Breen from Bernstein maintained a Buy rating on Gilead Sciences and increased the price target to $135.00 from $120.00.
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Courtney Breen’s rating is based on Gilead Sciences’ recent positive performance and strategic developments. The company reported second-quarter earnings that slightly exceeded revenue and EPS estimates, leading to an upward revision of their full-year guidance. A significant factor in this positive outlook is the better-than-expected performance of their HIV division, which is now projected to grow by 3% year-over-year.
Additionally, the launch of Yeztugo has been notably successful, with high physician awareness and rapid market penetration. The early establishment of a J-code and strong access goals further support the potential for accelerated growth. While some pipeline programs were discontinued, this realignment is seen as a strategic move to enhance the non-HIV pipeline. Overall, these factors contribute to a strong market position and investor confidence, justifying the Buy rating.
According to TipRanks, Breen is a 2-star analyst with an average return of 0.9% and a 46.15% success rate. Breen covers the Healthcare sector, focusing on stocks such as Eli Lilly & Co, Moderna, and Bristol-Myers Squibb.
In another report released on August 18, Daiwa also upgraded the stock to a Buy with a $128.00 price target.