Gilead Sciences (GILD) '4997 Data 'Impressive & Underappreciated', KOL Suggests - Jefferies; PT to $95
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Jefferies analyst Brian Abrahams reiterated a Buy rating and bumped his price target on Gilead Sciences (NASDAQ: GILD) to $95.00 (from $93.00) as KOL feedback suggests '4997 data, while limited, was impressive and underappreciated.
Abrahams commented, "Following discussions with a NASH KOL, we believe the Street underappreciated the impressiveness of last week's ph.II '4997 data. While we acknowledge small pt numbers remain a meaningful limitation, given our feedback we believe it is appropriate to incorporate prob-adjusted out-year revs, which raises our PT by $2 to $95. We continue to believe HCV declines are baked in, and GILD shares do not reflect HIV stability and potential pipeline upside"
Shares of Gilead Sciences closed at $74.15 yesterday.
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