Raymond James upgraded Gilead to Outperform from Market Perform with a $93 price target. The analyst says the recent “outstanding” data from the PURPOSE-1 study of long acting lenacapavir in HIV pre-exposure prophylaxis and expected approval of seladelpar in primary biliary cholangitis later this year will drive the company’s revenue growth above current expectations. Lenacapavir PrEP and seladelpar could contribute multi-billion dollar sales growth over the next five years, the analyst tells investors in a research note.
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