11 Cheap Pharmaceutical Stocks to Buy Now

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4. Gilead Sciences, Inc. (NASDAQ:GILD)

Forward P/E: 14.03

Number of Hedge Fund Holders: 79

Gilead Sciences, Inc. (NASDAQ:GILD) is one of the top cheap pharmaceutical stocks to buy now. Morgan Stanley analyst Terence Flynn maintained a bullish stance on Gilead Sciences, Inc. (NASDAQ:GILD) on July 28, giving the stock a Buy rating with a $135 price target.

The analyst told investors that Gilead Sciences, Inc.’s (NASDAQ:GILD) strategic positioning in the HIV prevention market warrants an optimistic outlook.

He considers the recent reaffirmation by the US Preventive Services Task Force (USPSTF) of its ‘A’ recommendation for HIV pre-exposure prophylaxis (PrEP) a significant factor, as it mandates a majority of insurers to cover PrEP without cost-sharing.

The endorsement includes Gilead Sciences, Inc.’s (NASDAQ:GILD) Descovy and the newly approved Yeztugo, which the analyst considers significant in expanding the company’s market share in the PrEP segment.

Flynn also anticipates Gilead Sciences, Inc.’s (NASDAQ:GILD) focus on the expansion of the overall market to be a significant growth driver, as the company’s guidance is to expand the number of PrEP users in the US to at least 600,000 by 2030, and over a million by the mid-2030s.

Gilead Sciences, Inc. (NASDAQ:GILD) is a biotech company that advances medicines to prevent and treat serious diseases such as cancer, immunodeficiency virus (HIV), viral hepatitis, and COVID-19.

Its portfolio of drugs focuses on medical areas with unmet needs and includes AmBisome, Atripla, Biktarvy, Cayston, Complera, and others. Gilead Sciences, Inc. (NASDAQ:GILD) operates in over 35 countries.

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