Gilead Sciences (GILD – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst yesterday. Analyst Terence Flynn from Morgan Stanley maintained a Buy rating on the stock and has a $123.00 price target.
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Terence Flynn has given his Buy rating due to a combination of factors concerning Gilead Sciences. A key driver is the anticipated FDA approval of Lenacapavir (LEN) for HIV prevention by the PDUFA date of June 19. This approval is expected to surpass consensus estimates, thereby positively influencing Gilead’s stock performance.
Additionally, Flynn highlights the potential for higher-than-expected sales figures for LEN, particularly in the US market by 2025. The company’s strategic pricing and channel strategies are seen as advantageous, with a favorable economics forecast for LEN compared to existing products, and a predicted lower discounting rate in commercial channels. These factors collectively underpin Flynn’s optimistic outlook and Buy rating for Gilead Sciences.
Flynn covers the Healthcare sector, focusing on stocks such as BioNTech SE, Vertex Pharmaceuticals, and Gilead Sciences. According to TipRanks, Flynn has an average return of 5.8% and a 57.41% success rate on recommended stocks.
In another report released on February 19, Bernstein also maintained a Buy rating on the stock with a $120.00 price target.