Raymond James Upgrades Gilead Sciences (GILD) to Outperform

Raymond James analyst Steven Seedhouse upgraded Gilead Sciences (NASDAQ: GILD) from Market Perform to Outperform with a price target of $93.00.

The analyst comments: "Given recent outstanding data from PURPOSE-1 study of long acting lenacapavir in HIV pre-exposure prophylaxis (PrEP) and expected approval of seladelpar in PBC later this year (with what we anticipate will be a superior label to elafibranor) with revenue growth from both likely to outpace current expectations, we are upgrading shares of GILD from Market Perform to Outperform. Collectively, lenacapavir PrEP and seladelpar could contribute multi-billion dollar top-line growth over the next five years ($3.7B combined annual sales by 2030 in our model)."

For an analyst ratings summary and ratings history on Gilead Sciences click here. For more ratings news on Gilead Sciences click here.

Shares of Gilead Sciences closed at $66.70 yesterday.

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