9 Best Gene Therapy Stocks to Buy Now

4. Gilead Sciences, Inc. (NASDAQ:GILD)

Number of Hedge Fund Holders: 55

Based in Foster City, California, Gilead Sciences, Inc. (NASDAQ:GILD) is a leading American biopharmaceutical company. Its primary focus lies in the research and development of antiviral medications for conditions such as hepatitis B, HIV/AIDS, hepatitis C, and influenza.

On October 31, 2023, Kite, owned by Gilead Sciences, Inc. (NASDAQ:GILD), and Epic Bio agreed to a research collaboration. Under this partnership, Epic Bio’s unique gene regulation platform will be used to develop innovative cancer cell therapies. This partnership allows Kite to use licensed technology to manipulate specific genes to improve the functionality of CAR T-cells.

According to analysis from 24 Wall Street experts within the past 3 months, Gilead Sciences, Inc. (NASDAQ:GILD) has an average 12-month price target of $80.9. Projections range from a high estimate of $105 to a low estimate of $69. This average target indicates a 25.9% upside from the current stock price of $64.27.

Here’s what ClearBridge Investments said about Gilead Sciences, Inc. (NASDAQ:GILD) in its Q4 2023 investor letter:

“In the second half of 2023 — as we were selling low-growth, high-multiple stocks and taking advantage of oversold conditions in infrastructure, real estate and utilities — we also found opportunities in overlooked areas of health care. After adding Gilead Sciences, Inc. (NASDAQ:GILD) in the third quarter, we bought AstraZeneca in the fourth quarter. Each of these stocks present distinct investment cases, but both are reasonably valued and have limited patent expiry or pipeline risk. Gilead’s strength comes from its dominant franchise in HIV. It offers lower growth, but it yields nearly 4% and trades at 11x earnings. AstraZeneca possesses a diversified portfolio of pharmaceuticals, which should deliver double-digit earnings growth, yet it trades at just 16x earnings. These stocks were underwritten individually, but collectively we like the idea of increasing our exposure to defensive and growing health care names at below-market multiples.”