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

Gilead Sciences (NASDAQ:GILD) posted its earnings results on Wednesday. The biopharmaceutical company reported $2.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.58 by $0.44, Briefing.com reports. The business had revenue of $7.55 billion for the quarter, compared to analyst estimates of $7.01 billion. Gilead Sciences had a net margin of 3.79% and a return on equity of 29.34%. Gilead Sciences’s revenue was up 7.0% compared to the same quarter last year. During the same period last year, the business 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 Price Performance

Shares of NASDAQ GILD traded up $6.21 during midday trading on Thursday, reaching $97.90. 14,387,191 shares of the company traded hands, compared to its average volume of 7,046,615. The stock’s 50-day simple moving average is $84.58 and its 200-day simple moving average is $74.67. 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 firm has a market cap of $121.88 billion, a PE ratio of 119.39, a PEG ratio of 3.13 and a beta of 0.17.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on GILD. Cantor Fitzgerald increased their target price on Gilead Sciences from $70.00 to $80.00 and gave the company a “neutral” rating in a research note on Thursday. Sanford C. Bernstein began coverage on shares of Gilead Sciences in a research note on Thursday, October 17th. They issued an “outperform” rating and a $105.00 price objective on the stock. JPMorgan Chase & Co. upped their target price on shares of Gilead Sciences from $100.00 to $105.00 and gave the company an “overweight” rating in a research note on Thursday. Piper Sandler increased their price target on shares of Gilead Sciences from $95.00 to $105.00 and gave the company an “overweight” rating in a report on Thursday. Finally, The Goldman Sachs Group boosted their price objective on shares of Gilead Sciences from $74.00 to $84.00 and gave the stock a “neutral” rating in a report on Thursday. Eleven equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, the stock presently 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 Gilead Sciences stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $91.50, for a total transaction of $2,341,485.00. Following the completion of the transaction, the insider now directly owns 99,599 shares of the company’s stock, valued at $9,113,308.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, insider Merdad Parsey sold 25,590 shares of the firm’s stock in a transaction 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 completion of the sale, the insider now directly owns 99,599 shares of the company’s stock, valued at $9,113,308.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Johanna Mercier sold 5,490 shares of Gilead Sciences stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $73.98, for a total value 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. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 62,437 shares of company stock valued at $5,374,825. 0.29% 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.