Gilead Sciences (NASDAQ:GILD) Announces Quarterly Earnings Results, Beats Estimates By $0.44 EPS

Gilead Sciences (NASDAQ:GILD) announced its earnings results on Wednesday. The biopharmaceutical company reported $2.02 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.44, Briefing.com reports. Gilead Sciences had a return on equity of 29.34% and a net margin of 3.79%. The business had revenue of $7.55 billion during the quarter, compared to analysts’ expectations of $7.01 billion. During the same quarter last year, the business posted $2.29 earnings per share. The company’s quarterly revenue was up 7.0% on a year-over-year basis. Gilead Sciences updated its FY24 guidance to $4.25-4.45 EPS and its FY 2024 guidance to 4.250-4.450 EPS.

Gilead Sciences Stock Up 6.8 %

Shares of GILD traded up $6.21 during midday trading on Thursday, reaching $97.90. 14,387,191 shares of the stock were exchanged, compared to its average volume of 7,046,615. The firm has a 50 day simple moving average of $84.58 and a 200-day simple moving average of $74.67. The company has a quick ratio of 0.95, a current ratio of 1.14 and a debt-to-equity ratio of 1.18. Gilead Sciences has a 12-month low of $62.07 and a 12-month high of $98.32. The company has a market cap of $121.88 billion, a price-to-earnings ratio of 119.39, a P/E/G ratio of 3.13 and a beta of 0.17.

Insider Activity at Gilead Sciences

In related news, insider Johanna Mercier sold 29,357 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $83.78, for a total value of $2,459,529.46. Following the transaction, the insider now directly owns 78,127 shares of the company’s stock, valued at approximately $6,545,480.06. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Merdad Parsey sold 25,590 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $91.50, for a total value of $2,341,485.00. Following the transaction, the insider now directly owns 99,599 shares of the company’s stock, valued at approximately $9,113,308.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Johanna Mercier sold 29,357 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $83.78, for a total value of $2,459,529.46. Following the completion of the sale, the insider now directly owns 78,127 shares in the company, valued at $6,545,480.06. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 62,437 shares of company stock valued at $5,374,825. Corporate insiders own 0.29% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on GILD. Leerink Partners raised Gilead Sciences from a “market perform” rating to an “outperform” rating and raised their target price for the company from $74.00 to $96.00 in a research note on Monday, October 21st. Sanford C. Bernstein began coverage on Gilead Sciences in a research report on Thursday, October 17th. They issued an “outperform” rating and a $105.00 price target for the company. Barclays increased their price target on Gilead Sciences from $84.00 to $95.00 and gave the company an “equal weight” rating in a research report on Thursday. Oppenheimer increased their price target on Gilead Sciences from $95.00 to $105.00 and gave the company an “outperform” rating in a research report on Thursday. Finally, Robert W. Baird increased their price target on Gilead Sciences from $80.00 to $95.00 and gave the company a “neutral” rating in a research report on Thursday. Eleven analysts have rated the stock with a hold rating, eleven have given a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat, Gilead Sciences presently has an average rating of “Moderate Buy” and an average target price of $90.05.

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.