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Investing.com - Cantor Fitzgerald has reiterated its Overweight rating and $129.00 price target on Gilead Sciences (NASDAQ:GILD), currently trading at $120.94 and near its 52-week high of $121.83, following the company’s second-quarter earnings report. The biotechnology giant, with a market capitalization of $149.63 billion, has demonstrated strong momentum with an 8.83% return over the past week.
The research firm highlighted Gilead’s "solid" second-quarter performance and "even-better update call," noting the company raised its full-year revenue guidance by $500 million, excluding its COVID-19 treatment Veklury. With annual revenue of $28.86 billion and a healthy dividend yield of 2.63%, Gilead maintains a strong financial position, earning a "GREAT" overall health score according to InvestingPro, which offers 12+ additional key insights about the company’s performance and outlook.
Cantor Fitzgerald maintained its forecast of approximately $150 million in sales for Gilead’s newly launched drug Yeztugo for fiscal year 2025, a projection it considers "incrementally de-risked" following the company’s earnings call.
The firm indicated that investor attention may now shift to weekly prescription trends for Yeztugo, which Gilead discussed "directionally" during its call, and the upcoming third-quarter results.
Cantor Fitzgerald noted that investors had previously weighted their expectations toward fourth-quarter performance for the Yeztugo launch, which "probably keeps third-quarter estimates reasonable."
In other recent news, Gilead Sciences has reported its second-quarter results, which have led to significant reactions from various financial analysts. The company posted total sales of $7.1 billion and earnings per share of $1.97, which were generally in line with expectations. Morgan Stanley noted the company’s strong performance in its HIV segment, reporting revenue of $7.08 billion and non-GAAP earnings per share of $2.01, leading them to raise their price target to $143.00. Truist Securities also highlighted the strength in Gilead’s HIV business, upgrading the stock to a Buy and raising their price target to $127.00.
BofA Securities maintained a Buy rating while increasing their price target to $140.00, citing the overall positive quarterly results. RBC Capital raised their price target to $98.00, maintaining a Sector Perform rating, and noted strong performances in key HIV and PrEP franchises. TD Cowen raised their price target to $115.00, emphasizing a 3% EPS beat driven by HIV sales that exceeded expectations. These developments reflect a positive outlook from analysts on Gilead Sciences’ recent performance, particularly in its HIV segment.
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