Gilead Sciences (NASDAQ:GILD) Releases FY24 Earnings Guidance

Gilead Sciences (NASDAQ:GILD) updated its FY24 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $4.25-4.45 for the period, compared to the consensus estimate of $3.80. The company issued revenue guidance of $27.8-28.1 billion, compared to the consensus revenue estimate of $27.73 billion.

Gilead Sciences Stock Performance

Shares of Gilead Sciences stock traded up $1.47 during trading on Wednesday, hitting $91.69. 8,706,104 shares of the company’s stock were exchanged, compared to its average volume of 7,012,313. The business has a 50-day simple moving average of $84.32 and a 200-day simple moving average of $74.55. The stock has a market capitalization of $114.15 billion, a price-to-earnings ratio of 111.67, a PEG ratio of 3.12 and a beta of 0.17. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.95 and a current ratio of 1.14. Gilead Sciences has a 52-week low of $62.07 and a 52-week high of $91.98.

Gilead Sciences (NASDAQ:GILD) last released its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported $2.01 EPS for the quarter, topping the consensus estimate of $1.61 by $0.40. Gilead Sciences had a return on equity of 29.34% and a net margin of 3.79%. The business had revenue of $6.95 billion for the quarter, compared to analyst estimates of $6.64 billion. On average, research analysts forecast that Gilead Sciences will post 3.75 EPS for the current year.

Wall Street Analyst Weigh In

GILD has been the topic of a number of recent analyst reports. Leerink Partners upgraded Gilead Sciences from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $74.00 to $96.00 in a research report on Monday, October 21st. Evercore ISI raised shares of Gilead Sciences to a “strong-buy” rating in a research note on Friday, August 9th. Cantor Fitzgerald restated a “neutral” rating and set a $70.00 price objective on shares of Gilead Sciences in a research report on Monday, September 16th. Barclays lifted their target price on shares of Gilead Sciences from $76.00 to $84.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. Finally, Truist Financial upped their price target on shares of Gilead Sciences from $82.00 to $83.00 and gave the stock a “hold” rating in a research report on Thursday, August 15th. Ten analysts have rated the stock with a hold rating, eleven have issued a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $86.85.

Insider Activity

In other Gilead Sciences news, insider Merdad Parsey sold 2,000 shares of Gilead Sciences stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $83.83, for a total value of $167,660.00. Following the sale, the insider now owns 100,189 shares in the company, valued at $8,398,843.87. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Johanna Mercier sold 5,490 shares of the stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $73.98, for a total transaction of $406,150.20. Following the completion of the transaction, the insider now owns 114,979 shares of the company’s stock, valued at approximately $8,506,146.42. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Merdad Parsey sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $83.83, for a total value of $167,660.00. Following the completion of the sale, the insider now directly owns 100,189 shares in the company, valued at approximately $8,398,843.87. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 36,847 shares of company stock valued at $3,033,340. 0.29% of the stock is currently owned by company 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.