Leerink Partners Maintains Buy on Gilead Sciences (GILD)

Gilead Sciences, Inc. (NASDAQ:GILD) is one of the Most Undervalued S&P 500 Stocks to Buy Right Now. On September 2, Daina Graybosch from Leerink Partners maintained a Buy rating on Gilead Sciences, Inc. (NASDAQ:GILD) with a price target of $114.

The analyst highlighted the strong position of the company in the HIV prevention market. He particularly noted the strong performance of Descovy. Despite having challenges in accessing Yeztugo, Descovy has seen solid year-over-year sales growth and is expected to continue this growth momentum. Analyst Graybosch explained that this is due to the new policy by the US Health and Human Services that requires coverage without cost-sharing starting in 2025.

While discussing the future of Yeztugo, he noted that some current users of Descovy are expected to shift to Yeztugo as access improves. Moreover, although the market access is expected to stay uneven at first but a wider acceptance is anticipated after it receives a strong recommendation from the US Preventive Services Task Force. As a result, the analyst remains optimistic about Gilead Sciences, Inc.’s (NASDAQ:GILD) PrEP products.

Gilead Sciences, Inc. (NASDAQ:GILD) is a biopharmaceutical company that develops medicines to prevent and treat serious diseases like HIV, viral hepatitis, COVID-19, and cancer.

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Disclosure: None. This article is originally published at Insider Monkey.