Gilead Sciences (GILD, Financial) has unexpectedly delivered positive results from its ASCENT-04 trial, according to a recent analysis by Oppenheimer. The results of this study have exceeded expectations, as the firm originally anticipated findings from the ASCENT-03 trial to precede these outcomes.
The ASCENT-04 trial hitting its primary endpoint brings a favorable outlook to the ASCENT-03 study, potentially indicating a similar success. Oppenheimer's analysis emphasizes that Trodelvy remains a significant growth driver for Gilead over the next five years, surpassing other treatments like lenacapavir and the company's HIV franchise.
The positive development has reinforced Oppenheimer's confidence in Gilead's performance, maintaining an "Outperform" rating on its shares. The firm has set a price target of $132, reflecting strong potential for the company's stock.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 24 analysts, the average target price for Gilead Sciences Inc (GILD, Financial) is $111.81 with a high estimate of $140.00 and a low estimate of $82.00. The average target implies an upside of 6.88% from the current price of $104.62. More detailed estimate data can be found on the Gilead Sciences Inc (GILD) Forecast page.
Based on the consensus recommendation from 30 brokerage firms, Gilead Sciences Inc's (GILD, Financial) average brokerage recommendation is currently 2.1, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Gilead Sciences Inc (GILD, Financial) in one year is $80.44, suggesting a downside of 23.11% from the current price of $104.62. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Gilead Sciences Inc (GILD) Summary page.
