Deutsche Bank upgrades Gilead on its HIV treatment franchise

Investing.com -- Deutsche Bank upgraded Gilead Sciences Inc (NASDAQ: GILD) to "Buy" from "Hold" and raised its price target to $120 from $80 on long-term revenue growth potential in the company’s core HIV treatment franchise.

The bank highlighted the upcoming 2025 launch of lenacapavir for pre-exposure prophylaxis (PrEP) as a key driver, forecasting $619 million in LEN sales for fiscal 2025 and $3.7 billion by 2035. The firm believes Gilead’s long-acting HIV treatments will help offset future patent expirations, sustaining revenue growth into the next decade.

Despite Gilead’s stock trading at a higher valuation than its historical average, Deutsche Bank (ETR:DBKGn) argues it remains attractive relative to biopharma peers with long-term growth prospects, such as Eli Lilly (NYSE: LLY) and Vertex Pharmaceuticals (NASDAQ: VRTX).

Shares of Gilead were trading up 2%.

You May Also Be Interested In

• Trump administration plans to speed approvals of vapes and nicotine pouches - WSJ
• BitGo says asset servicing is the real barrier to tokenized securities
• Meta AI agent triggers heavy selloff in banks, insurers, and travel stocks