Gilead Sciences' stock surged 5.05% during intraday trading on Wednesday, reversing from earlier pre-market declines as Wall Street analysts raised their price targets following the company's stronger-than-expected fourth-quarter results.

The biopharmaceutical company reported quarterly earnings of $1.86 per share, beating the consensus estimate of $1.81, while revenue came in at $7.93 billion, exceeding expectations of $7.69 billion. Despite issuing fiscal 2026 guidance that fell short of analyst estimates, multiple firms expressed optimism about Gilead's business, particularly the launch of its twice-yearly HIV prevention therapy, Yeztugo.

Analysts from Needham, Scotiabank, Morgan Stanley, JPMorgan, Deutsche Bank, Wells Fargo, Oppenheimer, BMO, Truist Securities, and Leerink Partners all raised their price targets on Gilead, with some increases as high as $37. The consensus view suggests continued momentum for the company's HIV portfolio and potential upside from Yeztugo's market expansion.