Investing.com -- Deutsche Bank upgraded Gilead Sciences Inc (NASDAQ:GILD) to "Buy" from "Hold" and raised its price target to $120 from $80 on long-term revenue growth potential in the company’s core HIV treatment franchise.
The bank highlighted the upcoming 2025 launch of lenacapavir for pre-exposure prophylaxis (PrEP) as a key driver, forecasting $619 million in LEN sales for fiscal 2025 and $3.7 billion by 2035. The firm believes Gilead’s long-acting HIV treatments will help offset future patent expirations, sustaining revenue growth into the next decade.
Despite Gilead’s stock trading at a higher valuation than its historical average, Deutsche Bank (ETR:DBKGn) argues it remains attractive relative to biopharma peers with long-term growth prospects, such as Eli Lilly (NYSE:LLY) and Vertex Pharmaceuticals (NASDAQ:VRTX).
Shares of Gilead were trading up 2%.
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