Gilead price target raised to $114 from $105 at Leerink

Leerink analyst David Risinger raised the firm’s price target on Gilead (GILD) to $114 from $105 and keeps an Outperform rating on the shares. The firm does not anticipate any major top- or bottom-line surprises in Gilead’s Q2 earnings, likely reported in early August. Two important catalysts are likely too nascent for meaningful updates: Yeztugo’s launch in HIV pre-exposure prophylaxis and revenue impact on Kite from FDA’s recent removal of REMS and reduced monitoring requirements for marketed autologous CAR-T cell products.