Analyst Terence Flynn from Morgan Stanley maintained a Buy rating on Gilead Sciences (GILD – Research Report) and keeping the price target at $130.00.
Terence Flynn’s rating is based on a combination of factors, including the potential impact of funding cuts on Gilead Sciences’ HIV prevention initiatives. While there is uncertainty surrounding the US Department of Health and Human Services’ plans to reduce funding for domestic HIV prevention, Flynn notes that the direct impact on Gilead’s franchise may be limited due to the current payer coverage dynamics favoring commercial over government payers.
Additionally, Flynn highlights the growing support for PrEP coverage, as evidenced by the US Preventive Services Task Force’s recommendation for PrEP coverage with minimal restrictions and no cost-sharing. This support is further reinforced by CMS’s National Coverage Determination for PrEP, which aligns with the broader trend of expanding access to HIV prevention measures. These factors contribute to Flynn’s positive outlook on Gilead Sciences, justifying the Buy rating.
According to TipRanks, Flynn is a 4-star analyst with an average return of 4.4% and a 52.22% success rate. Flynn covers the Healthcare sector, focusing on stocks such as BioNTech SE, Gilead Sciences, and Vertex Pharmaceuticals.