Maxim Group analyst Michael Okunewitch downgrades $Gilead Sciences (GILD.US)$ to a hold rating.
According to TipRanks data, the analyst has a success rate of 34.0% and a total average return of -14.6% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Gilead Sciences (GILD.US)$'s main analysts recently are as follows:
Gilead experienced a sales surge, attributable to robust performance throughout its HIV product lineup, coupled with higher-than-anticipated earnings from Veklury. It was observed that Gilead's HIV segment delivered a vigorous quarter, marked by sustained volume expansion and a positive product mix.
The company surpassed third-quarter expectations, bolstered not only by Veklury but also by the performance of Biktarvy.
The sentiment is that a new chapter is unfolding for Gilead, with the company breaking free from past questionable business decisions and returning to its foundational role as a pioneer in the antiviral space. This resurgence is spearheaded by lenacapavir, a promising antiviral that has the potential to become a cornerstone in HIV therapy and to broaden the application of PrEP to a wider audience. There's a belief that the PrEP market has untapped potential beyond the conventional focus on MSM and high-risk groups. Progress is also noted in oncology, with significant growth observed for TRODELVY and a collaboration with a partner that appears to possess a superior CAR-T therapy for multiple myeloma.
Note:
TipRanks, an independent third party, provides analysis data from financial analysts and calculates the Average Returns and Success Rates of the analysts' recommendations. The information presented is not an investment recommendation and is intended for informational purposes only.
Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
TipRanks provides a ranking of each analyst up to 5 stars, which is representative of all recommendations from the analyst. An analyst's past performance is evaluated on a scale of 1 to 5 stars, with more stars indicating better performance. The star level is determined by his/her total success rate and average return.
