Gilead upgraded to equal weight at Barclays on strong execution in HIV, Kite
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.