BofA analyst Tim Anderson raised the firm’s price target on Gilead (GILD) to $140 from $12 6 and keeps a Buy rating on the shares. The company’s Q2 results were good overall, with Biktarvy and Descovy beating consensus, but slightly below the firm’s above-consensus estimates, the analyst tells investors in a research note. The firm added that the print confirms its investment thesis that Gilead is a beat and raise story on HIV, with anchor brand Biktarvy playing a pivotal role as incremental operating margin is likely as high as any ever gets.
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