Needham analyst Joseph Stringer has maintained their neutral stance on GILD stock, giving a Hold rating yesterday.
Joseph Stringer has given his Hold rating due to a combination of factors affecting Gilead Sciences. The company’s first-quarter revenue was slightly below expectations, with total product revenue falling short of both the firm’s and consensus estimates. While the HIV and Liver franchises performed in line with expectations, the Oncology segment, particularly Trodelvy, did not meet projections, and Veklury sales were also disappointing.
Despite these challenges, there are positive aspects that contribute to the Hold rating. Gilead’s operational expenses were lower than anticipated, which helped support the bottom line. Additionally, the potential launch of lenacapavir for HIV PrEP is seen as a significant opportunity for future revenue growth. These factors suggest a cautious optimism, justifying the Hold rating while acknowledging the potential for improvement.
In another report released yesterday, RBC Capital also maintained a Hold rating on the stock with a $92.00 price target.