Gilead Sciences Gets Equal Weight Rating, $155 Target and Cuts 2026 Forecast
Barclays initiated coverage of Gilead Sciences with an Equal Weight rating and set a $155 price target, calling its valuation “rich” at current levels. Gilead’s Yeztugo injection posted $96 million in Q4 sales and the company forecasts $800 million in 2026, down from $907 million consensus.
1. Barclays Initiates Coverage
On February 20, Barclays began coverage of Gilead Sciences with an Equal Weight rating and set a $155 price target, stating that the stock’s current valuation already reflects its core infectious disease franchise strength.
2. Yeztugo Q4 Sales and 2026 Outlook
Gilead’s twice-yearly HIV prevention injection, Yeztugo, generated $96 million in fourth-quarter sales, surpassing the $88 million estimate, yet management projects $800 million in 2026 revenue, below $907 million analyst consensus.
3. Sales Growth Outlook Adjustment
CEO Daniel O’Day reduced the 2026 sales growth outlook by about two percentage points, attributing the revision to a pricing agreement with the Trump Administration and uncertainty over post-subsidy ACA insurance coverage.
4. HIV Portfolio Performance and EPS Guidance
HIV treatment revenue rose 6% in 2025 and is expected to grow another 6% in 2026; Gilead forecasts adjusted EPS between $8.45 and $8.85, aligning with consensus at the midpoint.