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Posted by
Two Blokes Jun 15 -
Filed in
Stock
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Initiate Gilead Sciences with Strong Buy/$181 PT, citing disciplined cost base, accelerating pipeline, and robust Q1-25 execution driving margin and EPS outperformance. HIV franchise resilience and upcoming lenacapavir-PrEP launch underpin multi-year growth, with consensus underestimating embedded volume and margin expansion optionality. Disciplined SG&A cuts and high operating leverage enable sustainable margin accretion and above-Street EPS growth, supporting a premium 21x forward P/E multiple.
