Gilead Sciences, Inc. (NASDAQ:GILD) announced yesterday positive phase 2 results for bictegravir vs. GSK/ViiV’s dolutegravir (Tivicay) in combination with F/TAF in treatment naive HIV patients. The results came ahead of a presentation today at CROI.
J.P. Morgan analyst Cory Kasimov believes that the data in the press release is indeed positive showing that the BIC based regimen achieved similar (numerically better) results to the DTG based regimen with a similarly clean safety profile.
“In our prior discussions with doctors (pre-data), they uniformly expressed interest in a TAF based product that did not have the concerns associated with the booster, with one doc noting “that would be a real game changer… if [efficacy] were similar to Triumeq, it would jump to the front.” We think B/F/TAF could be important to help GILD maintain market share in the increasingly competitive HIV space, and this is the only pipeline asset we currently assign direct credit to in our GILD model (~$2.6B in sales by 2020). Importantly, this single tablet regimen would have patent protection through ~2033,” Kasimov wrote.
As such, the analyst reiterates an Overweight rating on shares of Gilead Sciences, with a price target of $82, which implies an upside of 20% from current levels.
According to TipRanks, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Cory Kasimov has a yearly average return of -8.7% and a 36.6% success rate. Kasimov has a -12.9% average return when recommending GILD, and is ranked #4317 out of 4430 analysts.