Analyst Consensus ?
ConsensusBuy58 ratings
Bullish3967.3%
Neutral1831.0%
Bearish11.7%
Gilead Sciences, Inc. · GILD · FY2026 Q1 · Calendar Q2 2026
Gilead Beats Q1 Estimates, Raises Guidance on Yes2Go Strength and HIV Growth
Gilead delivered a solid Q1 2026 beat driven by 10% HIV growth and accelerating Yes2Go adoption, raising full-year revenue guidance by $400 million. Despite the beat, the stock sold off with a -2.9% abnormal move and continued downside drift, suggesting the market had already priced in the positive trajectory. The multi-franchise strategy spans HIV, oncology, liver disease, and cell therapy, with key FDA decisions on Biclen (August 2026), anitocel (December 2026), and Hepcludex (this quarter) as near-term catalysts. The Arcellx and Tubulis acquisitions bolster the ADC and CAR-T pipeline but add integration risk. With the stock at $133.83 versus a consensus target of $159.22, the bullish thesis depends on Yes2Go reaching its $1 billion target, successful Trodelvy label expansions, and clean regulatory execution across multiple pending decisions.
Reported After market closeNASDAQHealthcare
$162.05B market cap
100quality score
Company context
Snapshot as of publicationGilead Sciences, Inc. is a global biopharmaceutical enterprise, with operations spanning the United States, Europe, and numerous international markets. Its core mission involves discovering, developing, and commercializing innovative medications to address critical health needs. The company's extensive product portfolio encompasses treatments for a variety of severe conditions. For HIV/AIDS, it supplies key therapies such as Biktarvy, Genvoya, Descovy, Odefsey, Truvada, Complera/Eviplera, Stribild, and Atripla. In response to the 2019 coronavirus pandemic, Gilead provides Veklury, an injectable drug for intravenous administration. Its offerings for liver diseases include Epclusa, Harvoni, Vosevi, Vemlidy, and Viread.…
Earnings scorecard
Reported versus consensus
Reported EPS
$2.03
Consensus $2
EPS surprise
+6.3%
Reported versus consensus
Reported revenue
$6.96B
Consensus $6.91B
Revenue surprise
+0.7%
Reported versus consensus
Earnings History
Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$132.73Current
$54Low
$120.15Average
$180High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Jul 29, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| Morgan Stanley | Overweight | Overweight | Maintain | Jul 27, 2026 |
| Leerink Partners | Market Perform | Outperform | Downgrade | Jul 21, 2026 |
| Truist Securities | Buy | Buy | Maintain | Jul 7, 2026 |
| RBC Capital | Sector Perform | Sector Perform | Maintain | Jul 7, 2026 |
| HSBC | Buy | Hold | Upgrade | Jul 6, 2026 |
| Cantor Fitzgerald | Overweight | Overweight | Maintain | Jul 6, 2026 |
| Maxim Group | Buy | Hold | Upgrade | May 20, 2026 |
| Citigroup | Buy | Buy | Maintain | Apr 13, 2026 |
| Needham | Buy | Buy | Maintain | Feb 23, 2026 |
| Wells Fargo | Overweight | Overweight | Maintain | Feb 11, 2026 |
| Scotiabank | Sector Outperform | Sector Outperform | Maintain | Feb 11, 2026 |
| UBS | Buy | Buy | Maintain | Jan 26, 2026 |
| JP Morgan | Overweight | Overweight | Maintain | Oct 31, 2025 |
| TD Cowen | Buy | Buy | Maintain | Oct 23, 2025 |
| BMO Capital | Outperform | Outperform | Maintain | Aug 8, 2025 |
| Mizuho | Outperform | Outperform | Maintain | May 5, 2025 |
| Oppenheimer | Outperform | Outperform | Maintain | Apr 25, 2025 |
| B of A Securities | Buy | Buy | Maintain | Mar 5, 2025 |
| Deutsche Bank | Buy | Hold | Upgrade | Feb 18, 2025 |
| Piper Sandler | Overweight | Overweight | Maintain | Feb 12, 2025 |
| Goldman Sachs | Neutral | Neutral | Maintain | Feb 12, 2025 |
| Baird | Neutral | Neutral | Maintain | Feb 12, 2025 |
| Barclays | Equal Weight | Equal Weight | Maintain | Nov 7, 2024 |
| Raymond James | Outperform | Market Perform | Upgrade | Jul 8, 2024 |
| Benchmark | Buy | Buy | Maintain | Aug 8, 2023 |
| Cowen & Co. | Outperform | Outperform | Maintain | Feb 6, 2023 |
| SVB Leerink | Market Perform | Market Perform | Maintain | Feb 3, 2023 |
| Argus Research | Buy | Hold | Upgrade | Jan 28, 2022 |
| Bernstein | Outperform | Market Perform | Upgrade | Apr 1, 2021 |
| Redburn Partners | Buy | Neutral | Upgrade | Mar 30, 2021 |
| Redburn | Buy | Neutral | Upgrade | Mar 30, 2021 |
| Credit Suisse | Neutral | Neutral | Maintain | Feb 5, 2021 |
| SunTrust Robinson Humphrey | Hold | Sell | Upgrade | May 26, 2020 |
| CFRA | Sell | Sell | Maintain | Apr 29, 2020 |
| DZ Bank | Buy | Hold | Upgrade | Mar 18, 2020 |
| Guggenheim Securities | Neutral | Buy | Downgrade | Jan 21, 2020 |
| Guggenheim | Neutral | Buy | Downgrade | Jan 21, 2020 |
| Longbow Research | Neutral | Buy | Downgrade | Apr 16, 2019 |
| PiperJaffray | Neutral | Overweight | Downgrade | Oct 26, 2018 |
| Argus | Buy | Hold | Upgrade | May 5, 2018 |
| Leerink Swann | Market Perform | Market Perform | Maintain | Feb 7, 2018 |
| Bank of America | Neutral | Neutral | Maintain | Feb 7, 2018 |
| Jefferies | Buy | Hold | Upgrade | Jan 26, 2018 |
| Summit Redstone Partners | Hold | Hold | Maintain | Dec 1, 2016 |
| Stifel Nicolaus | Buy | Buy | Maintain | Nov 14, 2016 |
| Berenberg | Buy | Buy | Maintain | Sep 22, 2016 |
| Gabelli & Co. | Buy | Buy | Maintain | Jun 1, 2016 |
| Standpoint Research | Buy | Buy | Maintain | Feb 3, 2016 |
| Atlantic Equities | Neutral | Neutral | Maintain | Dec 18, 2015 |
| Nomura | Buy | Buy | Maintain | Nov 10, 2014 |
| Edward Jones | Hold | Hold | Maintain | Oct 31, 2014 |
| FBR Capital | Outperform | Outperform | Maintain | Oct 13, 2014 |
| Topeka | Buy | Buy | Maintain | Jun 10, 2014 |
| Topeka Capital | Buy | Buy | Maintain | Jun 9, 2014 |
| Stifel | Buy | Buy | Maintain | Feb 5, 2014 |
| Sterne Agee | Buy | Buy | Maintain | Jun 25, 2013 |
| Blaylock Robert Van | Buy | Buy | Maintain | Apr 8, 2013 |
| Brigantine | Hold | Buy | Downgrade | Feb 8, 2012 |
Named analyst price targets
Upside is calculated against the persisted current price $132.73. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Morgan Stanley | Analyst unavailable | $165 | $131.23 | +24.3% | Jul 27, 2026 |
| Leerink Partners | Daina Graybosch | $127 | $133.21 | -4.3% | Jul 20, 2026 |
| Morgan Stanley | Analyst unavailable | $166 | $136.36 | +25.1% | Jul 8, 2026 |
| RBC Capital | Brian Abrahams | $120 | $129.61 | -9.6% | Jul 7, 2026 |
| HSBC | Rajesh Kumar | $155 | $131.27 | +16.8% | Jul 6, 2026 |
| RBC Capital | Brian Abrahams | $122 | $134.43 | -8.1% | Jun 1, 2026 |
| Maxim Group | Michael Okunewitch | $165 | $130.55 | +24.3% | May 20, 2026 |
| Morgan Stanley | Analyst unavailable | $168 | $131.33 | +26.6% | May 10, 2026 |
| Truist Financial | Analyst unavailable | $157 | $132.02 | +18.3% | May 8, 2026 |
| Morgan Stanley | Analyst unavailable | $175 | $140.34 | +31.8% | Apr 10, 2026 |
| Truist Financial | Gregory Renza | $155 | $141.54 | +16.8% | Apr 8, 2026 |
| Jefferies | Akash Tewari | $180 | $146.94 | +35.6% | Mar 10, 2026 |
| Barclays | Analyst unavailable | $155 | $151.12 | +16.8% | Feb 19, 2026 |
| Mizuho Securities | Analyst unavailable | $170 | $152.74 | +28.1% | Feb 19, 2026 |
| UBS | Analyst unavailable | $175 | $155.27 | +31.8% | Feb 18, 2026 |
| Scotiabank | Louise Chen | $177 | $155.29 | +33.4% | Feb 11, 2026 |
| Bernstein | Courtney Breen | $160 | $155.45 | +20.5% | Feb 11, 2026 |
| Morgan Stanley | Analyst unavailable | $171 | $155.72 | +28.8% | Feb 11, 2026 |
| Truist Financial | Analyst unavailable | $162 | $155.86 | +22.1% | Feb 11, 2026 |
| Truist Financial | Analyst unavailable | $152 | $154.69 | +14.5% | Feb 11, 2026 |
| Oppenheimer | Analyst unavailable | $165 | $153.46 | +24.3% | Feb 11, 2026 |
| Cantor Fitzgerald | Analyst unavailable | $155 | $147.23 | +16.8% | Feb 11, 2026 |
| Needham | Joseph Stringer | $170 | $154.09 | +28.1% | Feb 11, 2026 |
| Robert W. Baird | Analyst unavailable | $145 | $153.89 | +9.2% | Feb 11, 2026 |
| BMO Capital | Evan Seigerman | $160 | $147.23 | +20.5% | Feb 11, 2026 |
| Wells Fargo | Mohit Bansal | $165 | $147.23 | +24.3% | Feb 11, 2026 |
| Truist Financial | Analyst unavailable | $145 | $139.23 | +9.2% | Jan 27, 2026 |
| BMO Capital | Evan David Seigerman | $150 | $137.01 | +13.0% | Jan 26, 2026 |
| UBS | Analyst unavailable | $155 | $136.16 | +16.8% | Jan 26, 2026 |
| Morgan Stanley | Analyst unavailable | $150 | $122.25 | +13.0% | Jan 13, 2026 |
| UBS | Michael Yee | $145 | $121.36 | +9.2% | Jan 7, 2026 |
| Bernstein | Courtney Breen | $135 | $124.56 | +1.7% | Dec 29, 2025 |
| Wolfe Research | Alexandria Hammond | $150 | $120.41 | +13.0% | Dec 15, 2025 |
| Morgan Stanley | Analyst unavailable | $151 | $123.21 | +13.8% | Dec 12, 2025 |
| HSBC | Analyst unavailable | $133 | $119.36 | +0.2% | Dec 10, 2025 |
| BMO Capital | Evan David Seigerman | $135 | $127.57 | +1.7% | Nov 25, 2025 |
| Truist Financial | Gregory Renza | $140 | $127.91 | +5.5% | Nov 24, 2025 |
| Mizuho Securities | Analyst unavailable | $140 | $124.99 | +5.5% | Nov 20, 2025 |
| Morgan Stanley | Terence Flynn | $147 | $118.52 | +10.8% | Oct 31, 2025 |
| RBC Capital | Analyst unavailable | $105 | $118.44 | -20.9% | Oct 31, 2025 |
| Wells Fargo | Analyst unavailable | $145 | $118.44 | +9.2% | Oct 31, 2025 |
| Cantor Fitzgerald | Carter Gould | $135 | $118.25 | +1.7% | Oct 9, 2025 |
| Wells Fargo | Analyst unavailable | $140 | $112.69 | +5.5% | Oct 6, 2025 |
| Deutsche Bank | James Shin | $135 | $118.83 | +1.7% | Aug 11, 2025 |
| Robert W. Baird | Brian Skorney | $108 | $119.41 | -18.6% | Aug 8, 2025 |
| Morgan Stanley | Terence Flynn | $143 | $119.41 | +7.7% | Aug 8, 2025 |
| Leerink Partners | David Risinger | $114 | $112.09 | -14.1% | Jul 14, 2025 |
| Morgan Stanley | Terence Flynn | $135 | $108 | +1.7% | Jun 18, 2025 |
| Cantor Fitzgerald | Carter Gould | $125 | $105.51 | -5.8% | Apr 22, 2025 |
| Morgan Stanley | Terence Flynn | $130 | $114.43 | -2.1% | Mar 11, 2025 |
| Johnson Rice | Analyst unavailable | $126 | $115.44 | -5.1% | Mar 5, 2025 |
| Oppenheimer | Analyst unavailable | $132 | $114.74 | -0.5% | Mar 4, 2025 |
| RBC Capital | Brian Abrahams | $83 | $90.63 | -37.5% | Jan 7, 2025 |
| Piper Sandler | Joseph Catanzaro | $105 | $90.09 | -20.9% | Nov 7, 2024 |
| BMO Capital | Evan David Seigerman | $94 | $86.11 | -29.2% | Oct 21, 2024 |
| Leerink Partners | Andrew Berens | $96 | $86.72 | -27.7% | Oct 21, 2024 |
| Morgan Stanley | Terence Flynn | $84 | $87.07 | -36.7% | Oct 18, 2024 |
| Jefferies | Michael Yee | $95 | $83.76 | -28.4% | Sep 23, 2024 |
| Goldman Sachs | Salveen Richter | $71 | $82.85 | -46.5% | Sep 12, 2024 |
| Morgan Stanley | Terence Flynn | $79 | $82.63 | -40.5% | Sep 12, 2024 |
| Piper Sandler | Joseph Catanzaro | $95 | $79.93 | -28.4% | Sep 11, 2024 |
| Truist Financial | Asthika Goonewardene | $83 | $74.14 | -37.5% | Aug 14, 2024 |
| BMO Capital | Evan David Seigerman | $85 | $75.59 | -36.0% | Aug 9, 2024 |
| RBC Capital | Brian Abrahams | $72 | $75.59 | -45.8% | Aug 9, 2024 |
| Raymond James | Steven Seedhouse | $93 | $67.76 | -29.9% | Jul 8, 2024 |
| Jefferies | Michael Yee | $85 | $71.24 | -36.0% | Jun 24, 2024 |
| Robert W. Baird | Brian Skorney | $80 | $69.21 | -39.7% | Jun 20, 2024 |
| Mizuho Securities | Salim Syed | $90 | $64.52 | -32.2% | Jun 17, 2024 |
| RBC Capital | Brian Abrahams | $74 | $64.68 | -44.2% | Jun 14, 2024 |
| BMO Capital | Evan David Seigerman | $80 | $67.9 | -39.7% | May 20, 2024 |
| HSBC | Morten Herholdt | $69 | $67.08 | -48.0% | Apr 24, 2024 |
| RBC Capital | Brian Abrahams | $76 | $73.53 | -42.7% | Feb 14, 2024 |
| RBC Capital | Brian Abrahams | $84 | $75.9 | -36.7% | Sep 27, 2023 |
| Bank of America Securities | Geoff Meacham | $95 | $75.92 | -28.4% | Sep 8, 2023 |
| Leerink Partners | Analyst unavailable | $91 | $84.64 | -31.4% | Feb 3, 2023 |
| Piper Sandler | Analyst unavailable | $112 | $81.39 | -15.6% | Feb 3, 2023 |
| Wells Fargo | Analyst unavailable | $90 | $85.46 | -32.2% | Jan 3, 2023 |
| Morgan Stanley | Analyst unavailable | $81 | $88.34 | -39.0% | Dec 1, 2022 |
| Barclays | Carter Gould | $76 | $79.27 | -42.7% | Oct 31, 2022 |
| Truist Financial | Robyn Karnauskas | $91 | $70.2 | -31.4% | Oct 28, 2022 |
| Robert W. Baird | Brian Skorney | $69 | $79.27 | -48.0% | Oct 28, 2022 |
| Truist Financial | Analyst unavailable | $76 | $64.82 | -42.7% | Sep 15, 2022 |
| Wells Fargo | Analyst unavailable | $74 | $66.19 | -44.2% | Sep 13, 2022 |
| Morgan Stanley | Analyst unavailable | $65 | $62.3 | -51.0% | Jul 15, 2022 |
| Leerink Partners | David Risinger | $68 | $64.04 | -48.8% | May 23, 2022 |
| Piper Sandler | Do Kim | $69 | $63.18 | -48.0% | May 17, 2022 |
| BMO Capital | Analyst unavailable | $63 | $59.54 | -52.5% | Apr 29, 2022 |
| Piper Sandler | Analyst unavailable | $73 | $60.04 | -45.0% | Apr 29, 2022 |
| Piper Sandler | Do Kim | $71 | $60.82 | -46.5% | Apr 6, 2022 |
| Wells Fargo | Mohit Bansal | $63 | $59.45 | -52.5% | Mar 31, 2022 |
| Jefferies | Michael Yee | $80 | $59.5 | -39.7% | Mar 1, 2022 |
| UBS | Colin Bristow | $54 | $59.85 | -59.3% | Feb 24, 2022 |
| Morgan Stanley | Matthew Harrison | $69 | $59.85 | -48.0% | Feb 24, 2022 |
| Mizuho Securities | Salim Syed | $75 | $63.7 | -43.5% | Feb 8, 2022 |
| Atlantic Equities | Steve Chesney | $62 | $63.1 | -53.3% | Feb 4, 2022 |
| Maxim Group | Jason McCarthy | $84 | $64.57 | -36.7% | Feb 3, 2022 |
| Oppenheimer | Hartaj Singh | $90 | $64.57 | -32.2% | Feb 3, 2022 |
| Argus Research | David Toung | $75 | $67.99 | -43.5% | Jan 28, 2022 |
| Goldman Sachs | Salveen Richter | $80 | $67.94 | -39.7% | Dec 6, 2021 |
| Wedbush | Robert Driscoll | $67 | $67.14 | -49.5% | Nov 19, 2021 |
| J.P. Morgan | Cory Kasimov | $74 | $61.14 | -44.2% | Apr 29, 2021 |
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Start freeMarket reaction
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Stock move
-2.0%
Event window
SPY move
+0.8%
Same window
Abnormal move
-2.9%
Stock minus SPY
Volume
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Versus trailing sessions
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What changed
Q1 2026 product sales reached $6.9 billion, up 5% year-over-year, with HIV sales growing 10% YoY. EPS of $2.03 beat the $1.91 consensus by 6.3%, and revenue of $6.96 billion exceeded the $6.91 billion estimate by 0.7%. Operating margin held at 47%. Yes2Go posted 72% sequential growth and its 2026 sales target was raised to $1 billion. Full-year revenue guidance was increased by $400 million, and the HIV sales growth outlook was lifted to 8%. Biclen (bictegravir + lenacapavir) received FDA priority review with a decision expected in August 2026. The company completed acquisitions of Arcellx and Tubulis, with a pending Oral Medicines deal, expanding its ADC, CAR-T, and T-cell engager platforms.
Guidance delta
Management raised full-year 2026 revenue guidance by $400 million and lifted the HIV sales growth outlook to 8%. Yes2Go's 2026 sales target was increased to $1 billion, positioning it as a potential first-year blockbuster. The prior quarter had initially set the 2026 product sales range at $29.6 to $30 billion; this quarter's raise builds on that foundation. Guidance sentiment was raised for the second consecutive quarter.
Key takeaways
- Q1 2026 product sales of $6.9 billion grew 5% YoY, with HIV sales up 10% and EPS of $2.03 beating consensus by 6.3%.
- Yes2Go posted 72% sequential growth and management raised its 2026 sales target to $1 billion.
- Full-year revenue guidance was raised by $400 million and the HIV sales growth outlook lifted to 8%.
- Acquisitions of Arcellx and Tubulis expand ADC and CAR-T platforms; pending Oral Medicines deal adds T-cell engager assets.
- Operating margin remained strong at 47% despite acquisition-related costs.
Management priorities
- Executing the Yes2Go commercial launch toward $1 billion in 2026 sales, positioning it as a first-year blockbuster.
- Securing FDA approval for Biclen with a decision expected in August 2026.
- Expanding Trodelvy into first-line metastatic TNBC and NSCLC indications.
- Integrating Arcellx, Tubulis, and pending Oral Medicines acquisitions to strengthen the oncology pipeline.
- Advancing Hepcludex (bulevirtide) regulatory submissions in the U.S. this quarter.
Related earnings events
HealthcareSources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2026-07-26T00:37:12.209961+00:00
- Polygon adjusted daily market bars · 2026-07-28T17:01:50.734399+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-07-28T17:01:50.731428+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated . For educational purposes only; not investment advice.