Truist Securities raised its price target on Gilead Sciences (NASDAQ:GILD) to $152.00 from $145.00 and reiterated a Buy rating, citing the biopharmaceutical company's fourth-quarter 2025 results that exceeded analyst expectations for both revenue and adjusted earnings.
The firm said the stronger-than-expected performance was primarily driven by continued vigor in Gilead’s HIV franchise. Gilead reported fourth-quarter revenue of $7.93 billion, topping the consensus estimate of $7.70 billion, and posted adjusted earnings per share of $1.86, above the $1.83 estimate. Truist noted that HIV and oncology sales were key contributors to the upside.
While raising its target, Truist acknowledged an area of investor debate centered on Gilead’s revenue guidance for Yeztugo. Management set an $800 million revenue figure for Yeztugo, which some market participants perceive as conservative or soft. Truist characterized this disagreement as a "passable overhang" on the stock, indicating it could weigh on sentiment in the near term.
Despite that concern, Truist expressed a constructive view of Gilead’s core HIV business and called attention to several upcoming clinical and commercial catalysts. The firm highlighted the anticipated anito-cel launch, an expected label expansion for Trodelvy in the second half of 2026, and progress in Gilead’s immunology and inflammation pipeline as positive drivers that support the higher target.
In updating its financial model, Truist incorporated year-end data and management commentary gathered during a one-on-one meeting with Gilead executives, reflecting the latest company guidance and operational details communicated directly by leadership.
The reaction among other sell-side analysts has been broadly favorable following Gilead’s quarterly report. Bernstein and BMO Capital each raised their price targets to $160 while maintaining an Outperform rating. BofA Securities lifted its target to $162 and kept a Buy rating. Needham increased its target to $170, citing strong HIV sales. By contrast, Goldman Sachs retained a Neutral rating with a $125 target. Collectively, these adjustments reflect a generally positive reassessment of Gilead’s near-term fundamentals and prospects.
Summary
Truist Securities bumped its Gilead price target to $152 and kept a Buy rating after Q4 2025 results beat revenue and EPS estimates, driven mainly by HIV and oncology sales. The firm noted investor debate over Yeztugo’s $800 million guidance but remains constructive on the company’s HIV franchise and upcoming catalysts including anito-cel and a potential Trodelvy label expansion in H2 2026.
Key points
- Truist raised its price target on Gilead to $152 from $145 and maintained a Buy rating.
- Gilead’s Q4 2025 results: revenue $7.93 billion and adjusted EPS $1.86, both above consensus.
- Analysts across the street also lifted targets - Bernstein and BMO to $160, BofA to $162, Needham to $170 - while Goldman Sachs stayed Neutral at $125.
Risks and uncertainties
- Investor debate about Yeztugo’s $800 million revenue guidance could act as a short-term overhang on the stock - impacting investor sentiment in the biotech and broader healthcare sectors.
- The timing and commercial uptake of key catalysts such as anito-cel and Trodelvy’s label expansion (expected in H2 2026) carry execution risk for Gilead’s oncology and specialty pharma businesses.