Oppenheimer positive on Gilead's HIV pipeline, despite FDA approval of Tivicay yesterday

|About: Gilead Sciences, Inc. (GILD)|By:, SA News Editor

Gilead Sciences (GILD +0.4%) gets a boost from positive comments out of Oppenheimer this morning.

The firm notes the FDA approved GSK's Tivicay, a competitor to GILD's HIV medicines, yesterday.

The approval doesn't come as a surprise, and although they consider it to be a meaningful competitor to GILD's HIV franchise, they believe physicians still strongly prefer Stribild, Complera, Atripla, or any regimen containing a Truvada backbone.

Despite the approval, Oppenheimer's thesis on GILD remains unchanged with a $70 price target.