Gilead Sciences (GILD) Stock Forecast & Price Target

Gilead Sciences is supported by a resilient HIV franchise, with Biktarvy, Descovy, and Yeztugo showing strong uptake and helping drive an 8% HIV growth outlook plus a raised FY26 revenue guide tied to about $1B of Yeztugo sales. Its fundamental case is strengthened by durable cash flows from HIV and liver disease, predictable HCV volumes, and strong pricing power, while top-line guidance was lifted by $400M and new product sales expectations of $30-30.4B. Beyond the core franchise, the company is building meaningful upside through oncology assets like Trodelvy and cell therapy programs such as Yescarta, Tecartus, and anito-cel, which add pipeline optionality and longer-term growth.

Gilead Sciences is facing a challenging fundamental setup because its core HIV and hepatitis franchises remain exposed to generic competition, pricing pressure, and possible U.S. government cuts to HIV treatment funding, which could weigh on recurring revenue. Although Yeztugo benefits from 95% coverage and strong +14% y-o-y PrEP market growth, the $158M U.S. print, softer-than-hoped persistence, and a more conservative $3.9B peak sales view versus $7B consensus suggest the PrEP opportunity may not scale as expected. On top of that, slower Yescarta uptake, label expansion risk, and possible setbacks in Trodelvy or next-wave HIV trials create execution and clinical uncertainty that undermines confidence in Gilead’s oncology diversification.