BMO Capital analyst Matthew Luchini downgraded Gilead Sciences to Market Perform from Outperform with an unchanged price target of $79. The stock closed Friday up 10% to $83.99. Wells Fargo this morning also downgraded the shares. The 29% rally year-to-date reflects investor enthusiasm for remdesivir as a potential treatment for COVID-19, Luchini tells investors in a research note. While the analyst is encouraged by the latest anecdotal updates, he no longer sees a favorable risk/reward in shares “given continued uncertainty around the remdesivir commercial opportunity.” As such, Luchini recommends stepping aside “ahead of a better entry point.”