Gilead Sciences is expected to report Q2 2026 revenue of $7.40 billion and a consensus loss of $7.07 per share, with the stock currently trading at $130.26 against a $134.00 average analyst price target.
Investors are primarily focused on the massive $7.07 per share loss driven by one-time acquired in-process research and development (IPR&D) charges resulting from the Arcellx acquisition.
This significant charge masks the underlying growth of the core HIV franchise, where Biktarvy revenue is projected to remain a dominant driver of performance. Sentiment is also buoyed by recent high-efficacy Phase 3 data for twice-yearly lenacapavir presented at the AIDS 2026 conference.