Gilead Sciences' Yeztugo Survey Supports Long-Term Growth Outlook, BofA Says

MT Newswires Live10-12 23:07

Gilead Sciences' (GILD) HIV prevention drug Yeztugo's long-term growth outlook is supported by a physician survey, BofA Securities said in a Monday note.

The investment firm said a Q3 survey of 35 healthcare providers was "supportive of Yeztugo's long-term commercial opportunity."

BofA said continued adoption among new patients, improving access and strong retreatment engagement should support Yeztugo's sustained growth as the product's launch matures. It forecasts Q3 Yeztugo sales of $292 million, above consensus estimates of $290 million.

The firm expects Q3 Biktarvy sales of $3.92 billion, above consensus estimates of $3.91 billion, and Descovy sales of $921 million, above the consensus estimate of $916 million. It forecasts Kite sales of $392 million, slightly above the consensus estimate of $391 million, and Trodelvy sales of $467 million, in line with consensus. Livdelzi sales are forecast at $196 million, below the consensus estimate of $199 million.

BofA remains positive on Gilead's growth prospects, citing its leading HIV franchise and successful product launches as drivers of continued commercial momentum. Beyond HIV treatments, it sees "meaningful upside from the oncology and I&I pipelines as upcoming catalysts advance opportunities for revenue diversification."

BofA reaffirmed its buy rating on Gilead and raised its price target to $168 from $162.

Price: 150.15, Change: -1.02, Percent Change: -0.67

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