Analysts at UBS upgraded shares of Gilead Sciences Inc. to buy from neutral and boosted the price target on the stock to $77 from $75 on Wednesday, citing "two important clinical wins" that could each one day bring in more than $2 billion in revenue. "Following the failure of selonsertib in NASH, Gilead has rattled off two important clinical wins: positive Descovy PrEP data and filgotinib FINCH1/3 data," UBS analyst Carter Gould wrote in a note to clients. Descovy is currently approved to treat HIV, but it is not approved to be used as pre-exposure prophylaxis, or PrEP, to reduce the risk of acquiring the virus. Filgotinib is a promising investigational rheumatoid arthritis drug that Gilead is developing with Galapagos NV . "On the back of Biktarvy growth, Descovy PrEP utilization, and filgotinib, we have increased conviction that the top-line will grow and model faster growth," Gould wrote, adding he saw "less downside risk relative to peers (Amgen and Biogen)." He also raised his full-year EPS estimate for Gilead to $6.85 from $6.73, citing strong sales trends for HIV drugs Biktarvy and Truvada and lower projected SG&A expense due to the failure of selonsertib, an investigational drug designed to treat nonalcoholic steatohepatitis (NASH) that recently failed to meet the primary endpoint in a Phase 3 study. Shares of Gilead have gained 7.4% in the year to date, while the S&P 500 has gained 15%.