In a report released today, Tyler Van Buren from TD Cowen maintained a Buy rating on Gilead Sciences (GILD – Research Report), with a price target of $110.00.
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Tyler Van Buren’s rating is based on several key adjustments to the financial model for Gilead Sciences. The analyst increased estimates for the company’s Trodelvy, total cell therapy, liver, and HIV franchises, reflecting optimism in these areas. On the other hand, estimates for Veklury and royalty contract revenue were decreased, indicating a more conservative outlook for these segments.
Additionally, the report notes a reduction in R&D and SG&A expenses, which suggests improved operational efficiency. However, there was an increase in IP R&D, pointing to continued investment in innovation. These changes culminated in a new non-GAAP EPS estimate of $1.85 for the first quarter, supporting the Buy rating for Gilead Sciences’ stock.
In another report released yesterday, Bernstein also reiterated a Buy rating on the stock with a $120.00 price target.