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Fly News Breaks for April 26, 2019
GILD
Apr 26, 2019 | 07:58 EDT
Bernstein analyst Aaron Gal initiated Gilead with an Outperform rating and $82 price target. In a research note to investors, Gal says his thesis focuses on the HIV franchise, where Biktarvy has already captured10% market share and says his firm's physician survey suggests it could be 3x that, adding that he believes HIV will remain largely unmanaged near term except for PrEP, but says rapid growth in PrEP will offset that headwind and Descovy will likely outperform expectations.
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