Buy Rating on Gilead: Solid Core Growth, Conservative Guidance, and Late-Stage Pipeline Upside Into 2026

TD Cowen analyst Tyler Van Buren maintained a Buy rating on Gilead Sciences today and set a price target of $160.00.

Tyler Van Buren has given his Buy rating due to a combination of factors related to both current performance and forward guidance. He notes that Gilead’s quarterly EPS met expectations, with solid top-line growth across HIV, liver disease, and cell therapy franchises, even though higher SG&A and IPR&D expenses weighed on earnings, indicating underlying business strength rather than demand weakness.

Van Buren also highlights 2026 guidance that calls for approximately 5% year-over-year growth in total product sales and 6% EPS growth, underpinned by a projected 6% increase in HIV revenue despite headwinds from policy changes and declining Veklury sales. In addition, he points to a robust late-stage pipeline with five Phase III updates and three anticipated product launches in 2026, and views the company’s Yeztugo sales outlook as conservative versus observed prescription trends, which together support attractive upside potential for the stock.

Van Buren covers the Healthcare sector, focusing on stocks such as Moderna, Gilead Sciences, and CG Oncology, Inc.. According to TipRanks, Van Buren has an average return of 19.1% and a 54.13% success rate on recommended stocks.

In another report released today, Needham also assigned a Buy rating to the stock with a $170.00 price target.