BUZZ-Truist lifts Gilead PT on expectations of in-line Q1 results

Reuters04-08 19:47
BUZZ-Truist lifts <a href="https://laohu8.com/S/GILD">Gilead</a> PT on expectations of in-line Q1 results

** Truist Securities raises PT on drugmaker Gilead Sciences GILD.O to $155 from $152, maintains rating at "buy"

** New PT represents an 11.7% upside to the stock's last close

** Truist expects Q1 results to be broadly in line with Wall Street estimates

** Expects revenue of $6.94 bln vs analysts' consensus $6.91 bln and non-GAAP EPS of $1.84 vs consensus of $1.90

** Estimates Q1 HIV drug Biktarvy sales of $3.30 bln vs Street expectations of $3.34 bln; sees PrEP drug Yeztugo sales of $167 mln vs expectations of $151 mln

** Expects Q1 commentary on Yeztugo launch strategy and payer access in the U.S. and EU

** To watch out for updates on blood cancer therapy anito-cel launch preparations ahead of December 23 PDUFA date

** Anticipates discussion on recent M&A activity, including Ouro and Tubulis, and other near-term growth drivers such as Livdelzi amid evolving liver-disease competition

** 26 of 33 brokerages rate the stock "buy" or higher, 7 "hold"; their median PT is $160.5, according to data compiled by LSEG

** Up to last close, stock up 13.1% YTD

(Reporting by Siddhi Mahatole)

((siddhi.mahatole@thomsonreuters.com))

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