GILD stock surged higher on January 19, 2021, after Morgan Stanley upgraded the stock.

Bullish option flow was detected in GILD stock.

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Morgan Stanley analyst Matthew Harrison upgraded Gilead to Overweight from Equal Weight with a price target of $83, up from $67. He believes success is likely in the ongoing Trodelvy Phase 3 study in third-line plus patients and thinks hormone receptor-positive metastatic breast cancer could represent “billions in additional peak sales,” Harrison tells investors. He also believes the combination of Gilead’s long-acting HIV capsid inhibitor, lenacapavir, with another long-acting HIV drug presents an opportunity to extend HIV cash flows “into the 2040s,” or potentially another 10 years, said the analyst, who calls 2021 a “pivotal pipeline year” for Gilead.

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