ozgurdonmaz
- Barclays has upgraded Gilead Sciences (NASDAQ:GILD) to equal weight from underweight saying that the biotech is executing well in its HIV franchise and Kite business, which will drive upside for 2023 and beyond.
- The firm raised its price target to $76 to $60 (~4% downside based on Friday's close).
- However, analyst Carter Gould said he has skepticism on Trodelvy's (sacituzumab) longer-term commercial uptake and the company's broader oncology franchise/strategy.
- He added that while there is some risk from upcoming pivotal data for magrolimab pivotal data and Daiichi Sankyo's (OTCPK:DSKYF) (OTCPK:DSNKY) DS-1062 (datopotamab deruxtecan) for non-small cell lung cancer, "we see those risks as balanced by the momentum on the commercial side."
- Gilead recently raised its full-year 2002 financial outlook.