Gilead Sciences (GILD) HIV prevention drug Yeztugo is seeing "decent" patient persistence based on early physician feedback, though the launch remains in its early stages, RBC Capital said in a Tuesday note.

According to the report, discussions with five physicians who prescribe pre-exposure prophylaxis therapies, collectively treating about 840 patients, suggest early Yeztugo use has largely come from patients switching from existing PrEP options rather than from individuals newly starting PrEP.

RBC said that among patients reaching six months after their first injection, about 71% received their second dose on time, indicating solid persistence that may exceed Apretude but may not significantly outperform oral PrEP options such as Truvada or Descovy.

The brokerage said switching trends could lift 2026 sales to about $907 million, above the roughly $836 million consensus, though reaching peak estimates near $6.8 billion may be challenging amid uncertainty around long-term persistence and market expansion.

RBC maintained its sector perform rating on the stock with a price target of $118.

Shares of Gilead Sciences were 1.6% higher in Tuesday trading.

Price: 138.35, Change: +2.01, Percent Change: +1.47