RBC Capital analyst Brian Abrahams reiterated a Sector Perform rating and $122.00 price target on Gilead Sciences (NASDAQ: GILD).

The analyst commented: "Where Does GILD Stand With In Vivo CAR-T? While still early, in vivo CAR-T is showing potential to transform the cell therapy space, posing a potential threat to a vertical expected to comprise 10-15% of GILD's future revenue. Our look suggests GILD themselves has started to assemble some promising technologies in the area, with differentiated features and a broad approach incorporating existing expertise, though remains a bit behind the emerging leaders. We view this as another area, in addition to HIV, PrEP and solid tumors, where LT competitive pressures for GILD may be mounting and where it may be important for GILD to leverage their ample cash flows to remain cuttingedge, though we acknowledge the NT picture - where investors are likely primarily focused - still looks solid."

For an analyst ratings summary and ratings history on Gilead Sciences click here. For more ratings news on Gilead Sciences click here.

Shares of Gilead Sciences closed at $129.16 yesterday.