FY2024 EPS Estimates for Gilead Sciences, Inc. Raised by Cantor Fitzgerald (NASDAQ:GILD)

Gilead Sciences, Inc. (NASDAQ:GILD) – Investment analysts at Cantor Fitzgerald increased their FY2024 earnings estimates for Gilead Sciences in a research note issued to investors on Monday, July 22nd. Cantor Fitzgerald analyst O. Brayer now expects that the biopharmaceutical company will post earnings of $3.85 per share for the year, up from their prior forecast of $3.82. Cantor Fitzgerald has a “Neutral” rating and a $70.00 price objective on the stock. The consensus estimate for Gilead Sciences’ current full-year earnings is $3.72 per share.

A number of other equities research analysts also recently weighed in on the stock. UBS Group dropped their price target on shares of Gilead Sciences from $81.00 to $75.00 and set a “neutral” rating for the company in a research report on Wednesday, April 17th. Raymond James raised Gilead Sciences from a “market perform” rating to an “outperform” rating and set a $93.00 target price on the stock in a report on Monday, July 8th. Barclays cut their price objective on shares of Gilead Sciences from $80.00 to $76.00 and set an “equal weight” rating for the company in a research report on Monday, April 29th. Robert W. Baird restated a “neutral” rating and issued a $80.00 target price on shares of Gilead Sciences in a research report on Thursday, June 20th. Finally, StockNews.com raised shares of Gilead Sciences from a “buy” rating to a “strong-buy” rating in a research note on Saturday, April 27th. Twelve investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $81.81.

Gilead Sciences Trading Up 4.1 %

GILD stock opened at $76.51 on Wednesday. Gilead Sciences has a 52 week low of $62.07 and a 52 week high of $87.86. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.94 and a current ratio of 1.08. The company’s 50-day simple moving average is $67.61 and its 200 day simple moving average is $71.23. The company has a market capitalization of $95.32 billion, a PE ratio of 212.53, a price-to-earnings-growth ratio of 3.04 and a beta of 0.18.

Gilead Sciences (NASDAQ:GILD) last issued its quarterly earnings data on Thursday, April 25th. The biopharmaceutical company reported ($1.32) EPS for the quarter, beating analysts’ consensus estimates of ($1.49) by $0.17. The firm had revenue of $6.69 billion for the quarter, compared to analyst estimates of $6.36 billion. Gilead Sciences had a return on equity of 24.34% and a net margin of 1.76%. The company’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same period in the prior year, the firm posted $1.37 EPS.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. CarsonAllaria Wealth Management Ltd. grew its position in Gilead Sciences by 198.3% in the 2nd quarter. CarsonAllaria Wealth Management Ltd. now owns 358 shares of the biopharmaceutical company’s stock valued at $25,000 after purchasing an additional 238 shares during the period. Private Wealth Management Group LLC bought a new stake in Gilead Sciences during the 4th quarter worth approximately $29,000. Palisade Asset Management LLC purchased a new stake in shares of Gilead Sciences in the first quarter worth approximately $29,000. Sachetta LLC bought a new position in shares of Gilead Sciences in the fourth quarter valued at approximately $30,000. Finally, Rakuten Securities Inc. purchased a new position in shares of Gilead Sciences during the fourth quarter valued at approximately $33,000. Institutional investors own 83.67% of the company’s stock.

Insider Buying and Selling

In other Gilead Sciences news, insider Merdad Parsey sold 2,000 shares of the stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $68.63, for a total transaction of $137,260.00. Following the transaction, the insider now directly owns 96,380 shares in the company, valued at approximately $6,614,559.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.16% of the stock is owned by insiders.

Gilead Sciences Company Profile

Gilead Sciences, Inc, a biopharmaceutical company, discovers, develops, and commercializes medicines in the areas of unmet medical need in the United States, Europe, and internationally. The company provides Biktarvy, Genvoya, Descovy, Odefsey, Truvada, Complera/ Eviplera, Stribild, Sunlencs, and Atripla products for the treatment of HIV/AIDS; Veklury, an injection for intravenous use, for the treatment of COVID-19; and Epclusa, Harvoni, Vemlidy, and Viread for the treatment of viral hepatitis.