Gilead Sciences (NASDAQ:GILD) Announces Quarterly Earnings Results

Gilead Sciences (NASDAQ:GILD) released its quarterly earnings results on Wednesday. The biopharmaceutical company reported $2.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.58 by $0.44, Briefing.com reports. The firm had revenue of $7.55 billion for the quarter, compared to the consensus estimate of $7.01 billion. Gilead Sciences had a net margin of 3.79% and a return on equity of 29.34%. The firm’s quarterly revenue was up 7.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.29 EPS. 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 Performance

Shares of GILD traded up $6.21 during mid-day trading on Thursday, reaching $97.90. 14,387,191 shares of the company’s stock traded hands, compared to its average volume of 7,046,615. 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 12 month low of $62.07 and a 12 month high of $98.32. The business’s 50-day moving average price is $84.58 and its 200-day moving average price is $74.67. The stock has a market capitalization of $121.88 billion, a P/E ratio of 119.39, a price-to-earnings-growth ratio of 3.13 and a beta of 0.17.

Analyst Upgrades and Downgrades

GILD has been the topic of several recent analyst reports. Cantor Fitzgerald boosted their price target on Gilead Sciences from $70.00 to $80.00 and gave the stock a “neutral” rating in a research note on Thursday. Royal Bank of Canada increased their target price on Gilead Sciences from $75.00 to $81.00 and gave the company a “sector perform” rating in a research note on Thursday. JPMorgan Chase & Co. lifted their price target on shares of Gilead Sciences from $100.00 to $105.00 and gave the stock an “overweight” rating in a research note on Thursday. Oppenheimer increased their price objective on shares of Gilead Sciences from $95.00 to $105.00 and gave the company an “outperform” rating in a research note on Thursday. Finally, Robert W. Baird boosted their target price on shares of Gilead Sciences from $80.00 to $95.00 and gave the stock a “neutral” rating in a research report on Thursday. Eleven 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, the company has a consensus rating of “Moderate Buy” and an average price target of $90.05.

Insider Transactions at Gilead Sciences

In related news, insider Merdad Parsey sold 25,590 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $91.50, for a total value of $2,341,485.00. Following the completion of the transaction, the insider now owns 99,599 shares in the company, valued at $9,113,308.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, insider Merdad Parsey sold 25,590 shares of the business’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 transaction of $2,341,485.00. Following the sale, the insider now owns 99,599 shares of the company’s stock, valued at $9,113,308.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Johanna Mercier sold 29,357 shares of the company’s stock in a transaction 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 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 disclosure for this sale can be found here. Over the last quarter, insiders sold 62,437 shares of company stock valued at $5,374,825. 0.29% of the stock is currently owned by corporate insiders.

About Gilead Sciences

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.