Domestic Manufacturing Boom: 12 Best Pharma Stocks to Invest in Now

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

Number of Hedge Fund Holders: 74

Gilead Sciences, Inc. (NASDAQ:GILD) advances medicines to prevent and treat serious diseases such as cancer, human 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.

Reuters recently reported that Gilead Sciences, Inc. (NASDAQ:GILD) plans to invest $11B in the US to bolster its domestic manufacturing and research. This puts it seventh on our list of the top stocks to buy amid the ongoing domestic manufacturing boom.

According to the report, the investment is expected to supplement $21 billion in US manufacturing and R&D through 2030. Gilead Sciences, Inc. (NASDAQ:GILD) also has plans to build three new facilities, upgrade three existing sites, and invest in new technology, lending it an optimistic light.

Based on the company’s positive outlook, TD Cowen analyst Tyler Van Buren maintained a Buy rating on Gilead Sciences, Inc. (NASDAQ:GILD) on May 6 and set a price target of $110.00

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