Analyst Geoff Meacham upgraded Gilead to buy from neutral. He increased his target price for the stock by $7 to $95.
The biopharmaceutical sector is poised to bounce back this year, and Gilead Sciences could be a key beneficiary, according to Bank of America. Analyst Geoff Meacham upgraded Gilead to buy from neutral. He increased his target price for the stock by $7 to $95, which suggests shares stand to gain 28.5% from where they closed Thursday.
According to Meacham, potential catalysts for the stock include: Stronger-than-expected sales of Biktarvy, an antiretroviral medication for HIV/AIDS treatment, and faster uptake of Descovy for PrEP, or pre-exposure prophylaxis, which is a medicine taken by individuals at risk for HIV infection Greater durability of revenue from HCV, or chronic hepatitis C virus, product sales Rapid uptake of Gilead-owned Kite Pharma , a company that works on cell therapy to treat and potentially cure cancer...
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