Gilead price target raised to $147 from $143 at Morgan Stanley

Morgan Stanley analyst Terence Flynn raised the firm’s price target on Gilead (GILD) to $147 from $143 and keeps an Overweight rating on the shares. Gilead’s FY25 guidance for its new Yeztugo HIV PReP launch of $150M implies Q4 sales could come in below the firm’s and Visible Alpha consensus forecasts, but the firm believes this is simply a function of building payer access and takes “comfort” from the robust Descovy PReP trends, the analyst tells investors in a post-Q3 note.