The firm lowered its outlook on Gilead Sciences following first-quarter results while maintaining an Overweight rating on the stock.
Morgan Stanley reduced its price target for Gilead Sciences (NASDAQ:GILD) to $168 from $175 after the company’s first-quarter earnings report. The firm retained its Overweight rating on the shares, adjusting its model based on the latest financial performance.
Gilead reported stronger-than-expected revenue and earnings for the quarter, driven by growth in its HIV business, particularly the drug Yeztugo. The company also raised its FY26 revenue guidance. Truist previously raised its price target on GILD to $157 from $155, citing encouraging trends in Yeztugo’s persistence data.
Yeztugo showed the highest persistence among patients receiving re-treatment in the PrEP setting, supporting expectations of durable growth and a potential $7B-plus peak revenue opportunity.