Morgan Stanley lowered the firm’s price target on Gilead to $74 from $78 and keeps an Equal Weight rating on the shares. The firm is raising its Lenacapavir PREP estimates following recent positive Phase 3 data and also lowering Trodelvy estimates in breast cancer due to competition and lung cancer given lower confidence in TROP2 following ASCO, the analyst tells investors in a Q2 earnings preview note for the Biopharma group.
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