Justin Sullivan/Getty Images News Ending a three-day losing streak, Gilead Sciences ( NASDAQ: GILD ) traded higher on Friday after Jefferies touted the antiviral drugmaker as a potential obesity play, citing its oral GLP-1 candidate GS-4571 and other experimental drugs. Foster City, California-based Gilead ( GILD ) has lost ~22% this year while its rival biotechs, as represented by SPDR Biotech ETF ( XBI ), have added ~5%, and Jefferies analyst Michael Yee pointed to an interesting set-up ahead of several notable catalysts. Yee, who has a Buy rating and an $80 target on Gilead ( GILD ), said that the company is scheduled to release new preclinical data for GS-4571 next week at the American Diabetes Association’s annual scientific sessions.
Additionally, GILD has received patents for its oral GLP-1 analogs for use as a combination therapy. Meanwhile, an oral DNP molecule for obesity in which Gilead ( GILD ) has a stake “should have good weight loss,” Yee wrote, noting that its 12-week data are expected in H2 2024. More on Gilead Sciences Gilead Sciences, Inc.
(GILD) Goldman Sachs 45th Annual Global Healthcare Conference (Transcript) Gilead Sciences, Inc. (GILD) Jefferies 2024 Global Healthcare Conference Gilead Sciences: Seriously Undervalued At Peak Pessimism Gilead, Arcus combo significantly reduces death risk in colorectal cancer Gilead's Trodelvy falls short in significantly improving overall survival in NSCLC.
