J.P. Morgan analyst Chris Schott has maintained their bullish stance on GILD stock, giving a Buy rating yesterday.
Chris Schott has given his Buy rating due to a combination of factors that suggest a positive outlook for Gilead Sciences. Despite recent headlines about potential CDC funding cuts for HIV prevention, Schott notes that these cuts are unlikely to affect access to PrEP, as the CDC’s role is more focused on research and education rather than drug provision. Additionally, the PrEP market is predominantly commercial, which mitigates the impact of such funding changes.
Furthermore, Schott highlights lenacapavir as a significant growth driver for Gilead, particularly as coverage expands in the coming years. He also addresses concerns about potential Medicaid cuts, emphasizing that alternative programs exist to ensure continued access to medications for HIV patients and PrEP consumers. Overall, Schott views these factors as supportive of Gilead’s long-term growth prospects, reinforcing his Buy rating.
In another report released yesterday, Wells Fargo also maintained a Buy rating on the stock with a $140.00 price target.
GILD’s price has also changed moderately for the past six months – from $83.890 to $110.230, which is a 31.40% increase.