Core Viewpoint - Gilead Sciences, Inc. (GILD) is set to report its fourth-quarter and full-year 2025 results on February 10, with consensus estimates for sales at $7.57 billion and earnings per share (EPS) at $1.83 [1][5] Financial Estimates - The earnings estimate for 2025 has decreased to $8.13 from $8.18 per share over the past 60 days, while the estimate for 2026 has increased to $8.60 from $8.56 [1] - The current earnings estimates for Q1 and Q2 are $1.83 and $1.90, respectively, with a trend showing a decrease of 3.17% for Q1 and an increase of 2.70% for Q2 over the past 60 days [2] Earnings Performance - GILD has a strong earnings surprise history, beating estimates in three of the last four quarters with an average surprise of 7.80%, including a 14.88% beat in the last reported quarter [2][3] Product Performance - Gilead's HIV franchise, particularly Biktarvy and Descovy, remains the primary growth driver, with Biktarvy accounting for over 52% of the U.S. treatment market [5][8] - The estimated sales for Biktarvy and Descovy are $3.8 billion and $703 million, respectively, with Yeztugo contributing $39 million in the third quarter [9][10] - The liver disease portfolio has seen increased sales, particularly for Livdelzi, while cell therapy sales are expected to decline due to competitive pressures [12][13] Market Position and Valuation - GILD's shares have increased by 49.2% over the past year, outperforming the industry growth of 31% [15] - The current price/earnings ratio for GILD is 16.85x forward earnings, higher than its historical mean of 11.17x but lower than the large-cap pharma industry average of 18.13x [18] Strategic Initiatives - Gilead is focusing on innovation within its HIV portfolio and has received positive data from phase III studies for new treatments [19][20] - The company is also pursuing strategic collaborations, including partnerships with Merck to enhance its product offerings [25]

Core Insights - Gilead Sciences, Inc. (GILD) shares have increased by 20.8% over the past month, significantly outperforming the industry growth of 4.5% [2] - The stock rally was primarily driven by the publication of positive results from the ASCENT-04 study in The New England Journal of Medicine [2][8] Study Results - The phase III ASCENT-04 study evaluated the combination of Gilead's Trodelvy and Merck's Keytruda in patients with untreated, inoperable locally advanced or metastatic triple-negative breast cancer (TNBC) expressing PD-L1, enrolling 443 patients [3] - The study achieved its primary endpoint, showing a 35% reduction in the risk of disease progression or death for the Trodelvy plus Keytruda combination compared to Keytruda plus chemotherapy, with median progression-free survival (PFS) of 11.2 months versus 7.8 months [4] Safety and Collaboration - The safety profile of the Trodelvy and Keytruda combination was consistent with the known safety profiles of each drug [5] - Gilead has collaborated with Merck since 2021 to evaluate Trodelvy in combination with Keytruda in the ASCENT-04 study [5] Market Potential - Trodelvy is currently approved in over 50 countries for second-line or later metastatic TNBC and in over 40 countries for certain pre-treated HR+/HER2- metastatic breast cancer patients [6] - Gilead has submitted two supplemental biologics license applications for Trodelvy's use in first-line metastatic TNBC, with potential regulatory decisions expected in 2026, which could significantly boost sales [9] Unmet Need and Future Growth - There is a significant unmet need in first-line metastatic TNBC, where existing therapies often lead to rapid disease progression and poor outcomes, presenting a substantial opportunity for differentiated treatments [10] - The efficacy data for the Trodelvy-Keytruda combination strengthens the case for a new standard of care, potentially expanding Trodelvy's market and driving long-term revenue growth [10] Ongoing Development - Trodelvy is being evaluated in multiple ongoing phase III trials across various tumor types with high Trop-2 expression, indicating its potential as a broadly applicable oncology asset [12] - The development program includes both monotherapy and combination regimens with Keytruda, targeting earlier treatment lines in TNBC and HR+/HER2-negative breast cancer, as well as lung and gynecologic cancers [12] Strategic Diversification - A potential label expansion for Trodelvy would enhance Gilead's oncology portfolio and reduce its reliance on HIV therapies, diversifying the company's revenue base [13] - Merck's Keytruda, which accounts for around 50% of its pharmaceutical sales, is also undergoing strategies to drive long-term growth [13]

Core Thesis - Gilead Sciences, Inc. is transitioning its focus from HIV and hepatitis C treatments to oncology as a new growth engine, utilizing a strategy of licensing and targeted acquisitions rather than large-scale buyouts [1][2] Oncology Strategy - The recent agreement with Repare Therapeutics enhances Gilead's pipeline in DNA-repair-targeted cancer therapies, with projections indicating that oncology could generate several billion dollars in annual revenue by the latter half of the decade [2] - Gilead's disciplined approach to selective licensing deals and smaller acquisitions reflects a broader trend among pharmaceutical companies facing patent expirations [2] Investment in Emerging Therapies - By investing in RNA therapies, in vivo cell therapies, and long-acting antivirals, Gilead aims to secure multibillion-dollar revenue streams extending into the early 2030s, allowing for quick adaptation to scientific opportunities while maintaining strong cash flow [3] Growth Potential - The combination of an expanding oncology footprint and ongoing innovation in high-value therapeutic areas positions Gilead for sustained growth and significant upside for shareholders over the next decade, presenting an attractive risk/reward profile [4] Historical Performance - Gilead's stock price has appreciated by approximately 36.38% since February 2025, reflecting resilience amid challenges and a strong focus on precision oncology and targeted licensing as long-term growth drivers [5]

Core Viewpoint - Gilead Sciences, Inc. (NASDAQ:GILD) is highlighted as one of the most profitable stocks on NASDAQ, with recent price target increases from Truist Securities and Citigroup indicating strong investor confidence in the company's future performance [1][3]. Group 1: Price Target Adjustments - Truist Securities raised its price target on Gilead Sciences to $145 from $140 while maintaining a Buy rating, citing revisions in estimates for the drug YEZTUGO and updates on upcoming launches [2]. - Citigroup also increased its price target for Gilead Sciences to $156 from $140, maintaining a Buy rating, as part of a broader Q4 preview for biopharmaceutical stocks [3]. Group 2: Company Overview - Gilead Sciences is a biopharmaceutical company focused on developing medicines for life-threatening diseases, including HIV, viral hepatitis, and cancer [4].

Core Viewpoint - Atle Fund Management AB increased its holdings in Gilead Sciences by 6.8% in Q3, indicating growing institutional interest in the biopharmaceutical company [2] Institutional Holdings - Norges Bank acquired a new stake in Gilead valued at approximately $2.15 billion in Q2 - Ameriprise Financial increased its stake by 397.6% in Q2, now owning 6,748,403 shares valued at $748.15 million after purchasing an additional 5,392,191 shares - Invesco Ltd. raised its position by 33.5% in Q2, now holding 13,521,228 shares worth $1.50 billion after buying 3,394,330 shares - Assenagon Asset Management increased its holdings by 164.4% in Q3, now owning 3,489,062 shares valued at $387.29 million after acquiring 2,169,266 shares - Vanguard Group lifted its stake by 1.6% in Q2, now owning 119,364,226 shares worth $13.23 billion after acquiring 1,893,401 shares - Institutional investors and hedge funds currently own 83.67% of Gilead's stock [3] Stock Performance - Gilead Sciences shares opened at $141.95, with a market cap of $176.11 billion - The stock has a price-to-earnings ratio of 22.01, a PEG ratio of 0.73, and a beta of 0.33 - The company has a debt-to-equity ratio of 1.03, a current ratio of 1.45, and a quick ratio of 1.31 - The one-year low for the stock is $93.37, and the one-year high is $142.20 [4] Earnings Results - Gilead reported an EPS of $2.47 for the latest quarter, exceeding the consensus estimate of $2.16 by $0.31 - The company achieved a net margin of 27.88% and a return on equity of 51.86% - Quarterly revenue was $7.77 billion, surpassing the consensus estimate of $7.42 billion, and up 3.0% year-over-year - Analysts expect Gilead to post an EPS of 7.95 for the current year [5] Analyst Ratings - Leerink Partners raised their price target from $114.00 to $146.00, rating the stock as "outperform" - Rothschild & Co Redburn increased their target from $153.00 to $159.00 with a "buy" rating - Sanford C. Bernstein set a price objective of $135.00 with an "outperform" rating - Citigroup raised their target from $140.00 to $156.00 with a "buy" rating - HSBC lifted their target from $110.00 to $133.00 with a "hold" rating - The stock has a consensus rating of "Moderate Buy" with an average target price of $136.73 [6] Insider Activity - Director Kelly A. Kramer sold 2,805 shares at an average price of $127.10, totaling $356,515.50, reducing ownership by 67.69% - CFO Andrew D. Dickinson sold 3,000 shares at an average price of $124.31, totaling $372,930.00, a 1.95% decrease in ownership - Over the last 90 days, insiders sold 257,397 shares worth $33.39 million, with insiders owning 0.27% of the company's stock [8] Company Overview - Gilead Sciences, founded in 1987 and headquartered in Foster City, California, focuses on developing medicines for high unmet medical needs - The company is known for its antiviral therapies and has expanded into oncology, cell therapy, and inflammatory diseases [9][10]

Company Overview - Gilead Sciences, Inc. is a California-based biopharmaceutical company founded in 1987, specializing in medicines aimed at unmet needs, including treatments for HIV/AIDS, COVID-19, viral hepatitis, oncology, pulmonary arterial hypertension, and serious invasive fungal infections [4] Investment Ratings and Price Targets - UBS raised the price target on Gilead Sciences from $145 to $155, maintaining a Buy rating, which implies nearly a 12% upside from the current price [1] - BMO Capital also increased its target on Gilead Sciences to $150 from $135, reiterating an Outperform rating, and highlighted the strong momentum in the company's HIV business and the successful launch of Yeztugo, which is projected to achieve $150 million in FY25 sales [3] Industry Insights - The U.S. Pharmaceuticals and Biotechnology group is expected to perform strongly due to appealing valuations, light positioning, and sustained pharma-led M&A activity, despite concerns regarding conservative guidance [2]

Core Viewpoint - Biotech stocks are outperforming in the current stock market rally, with key players like Amgen, Gilead Sciences, Vertex Pharmaceuticals, Regeneron Pharmaceuticals, and Argenx trading in or near buy zones as the fourth-quarter earnings season approaches [1] Group 1: Company Performance - Amgen (AMGN) is highlighted as a leading Dow Jones index component and industry giant, indicating strong market positioning [1] - Gilead Sciences (GILD) is noted for generating improved relative strength, suggesting positive market sentiment and potential for growth [1] - Regeneron Pharmaceuticals (REGN) is experiencing stock volatility but shows potential for business development deals following a solid fourth-quarter report [1] Group 2: Market Trends - The fourth-quarter earnings season is expected to reveal stock market leadership dynamics, indicating a critical period for investors [1] - The overall stock market is responding positively to recent developments, with the Nasdaq, Dow, and S&P 500 finding buyers at key levels [1] - Stocks like Gilead Sciences are showing renewed technical strength, which may attract further investment [1]

Core Viewpoint - Gilead Sciences, Inc. has demonstrated strong stock performance driven by new product approvals and pipeline advancements, particularly in the HIV treatment sector, positioning the company favorably in the biopharmaceutical market [2][4]. Financial Performance - Gilead reported Q3 revenue of $7.8 billion, reflecting a 3% year-over-year increase, with adjusted EPS at $2.47, up 22.3% from the previous year [5]. - For the fiscal year ending December 2025, analysts project Gilead's EPS to grow by 76.4% to $8.15 on a diluted basis [6]. Stock Performance - Over the past year, Gilead's stock has increased by 48.9%, significantly outperforming the S&P 500 Index, which rose nearly 15% [2]. - Year-to-date, Gilead's stock is up 13.8%, compared to a 1.9% increase in the S&P 500 [2]. Analyst Ratings - Among 30 analysts covering Gilead, the consensus rating is a "Strong Buy," with 22 "Strong Buy" ratings, two "Moderate Buys," and six "Holds" [6]. - Truist Financial Corporation has maintained a "Buy" rating on Gilead and raised the price target to $145, indicating a potential upside of 3.8% from current levels [7]. Market Position - Gilead's strong performance is attributed to the FDA approval and rollout of the HIV prevention drug Yeztugo, which is expected to enhance market potential and investor confidence [4]. - Compared to the Invesco Pharmaceuticals ETF, which gained about 21.7% over the past year, Gilead's performance highlights its competitive edge in the biopharmaceutical sector [3].

Core Viewpoint - Truist has raised the price target for Gilead (GILD) to $145 from $140 while maintaining a Buy rating, reflecting positive sentiment ahead of Q4 earnings in the Biotech sector [1] Group 1: Price Target and Rating - Truist increased Gilead's price target to $145 from $140 [1] - The firm continues to hold a Buy rating on Gilead shares [1] Group 2: Q4 Earnings Preview - The research note is part of a broader preview for Q4 earnings in the Biotech industry [1] - Adjustments to Yeztugo numbers are being made in anticipation of Q4 EPS [1] Group 3: Product Launches and Estimates - Timelines are being tweaked based on updated guidance for near-term product launches, including BIC/LEN in 2H25 and the US launch of Hepcludex [1] - There are expansion opportunities for Livdelzi, and estimates for the anito-cel launch are being fine-tuned following FDA guidance [1]

Truist Securities将吉利德科学的目标价从140美元上调至145美元，维持"买入"评级。(格隆汇) ...