Oppenheimer Maintains a Buy Rating on Gilead Sciences (GILD)

In a report released today, Hartaj Singh from Oppenheimer maintained a Buy rating on Gilead Sciences (GILD), with a price target of $85. The company’s shares closed yesterday at $65.02.

Singh noted:

“Gilead (GILD) recently reported a successful Prophylaxis (PrEP) phase 3 trial at CROI 2019 (DISCOVER webcast here). While the overall benefit/risk profile of Descovy (F/TAF) appears to be slightly better than currently approved Descovy was statistically non-inferior to Truvada. After a recent slip with the high-risk selonsertib STELLAR-4 trial, GILD now delivers a solid at-bat with Descovy for PrEP, positioning itself for the impending (1Q19) top-line release of the filgotinib FINCH 1&3 trials in rheumatoid arthritis (RA). It has long been our belief that filgotinib could be a best-in-class JAK1 inhibitor with a benefit/risk profile that allows for dosing flexibility as monotherapy treatment, while allowing for combination therapy in the future. We stay bullish.”

According to TipRanks.com, Singh is a 4-star analyst with an average return of 3.3% and a 48.0% success rate. Singh covers the Healthcare sector, focusing on stocks such as Strongbridge Biopharma Plc, Catabasis Pharmaceuticals, and Actinium Pharmaceuticals.

Gilead Sciences has an analyst consensus of Moderate Buy, with a price target consensus of $82.36, a 26.7% upside from current levels. In a report issued on March 14, BMO Capital also initiated coverage with a Buy rating on the stock with a $78 price target.

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The company has a one-year high of $79.61 and a one-year low of $60.32. Currently, Gilead Sciences has an average volume of 7.77M.

Based on the recent corporate insider activity of 49 insiders, corporate insider sentiment is negative on the stock. Last month, Gayle Wilson, a Director at GILD sold 19,068 shares for a total of $1,278,891.

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Gilead Sciences, Inc. is a biopharmaceutical company, which engages in the research, development, and commercialization of medicines in areas of unmet medical need. Its primary areas of focus include human immunodeficiency virus, acquired immunodeficiency syndrome, liver diseases, hematology, oncology, and inflammation and respiratory diseases.