Gilead Sciences (NASDAQ:GILD) Issues FY 2024 Earnings Guidance

Gilead Sciences (NASDAQ:GILD) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 3.600-3.900 for the period, compared to the consensus estimate of 3.750. The company issued revenue guidance of $27.1 billion-$27.5 billion, compared to the consensus revenue estimate of $27.6 billion. Gilead Sciences also updated its FY24 guidance to $3.60-3.90 EPS.

Analyst Upgrades and Downgrades

GILD has been the subject of several research reports. Morgan Stanley reduced their target price on Gilead Sciences from $80.00 to $78.00 and set an equal weight rating for the company in a research note on Friday, April 26th. 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 research report on Monday, July 8th. TD Cowen reduced their price target on shares of Gilead Sciences from $90.00 to $85.00 and set a buy rating for the company in a research report on Friday, April 26th. Needham & Company LLC restated a hold rating on shares of Gilead Sciences in a report on Friday, April 26th. Finally, BMO Capital Markets raised their price objective on shares of Gilead Sciences from $80.00 to $85.00 and gave the company an outperform rating in a research note on Friday. Twelve analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Gilead Sciences presently has an average rating of Hold and an average target price of $81.88.

Gilead Sciences Stock Performance

GILD stock traded down $1.93 during mid-day trading on Friday, hitting $73.66. The company had a trading volume of 9,060,948 shares, compared to its average volume of 7,396,841. 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 firm has a market cap of $91.77 billion, a PE ratio of 204.61, a price-to-earnings-growth ratio of 3.37 and a beta of 0.18. Gilead Sciences has a 12 month low of $62.07 and a 12 month high of $87.86. The stock’s fifty day moving average price is $69.81 and its two-hundred day moving average price is $70.51.

Gilead Sciences (NASDAQ:GILD) last posted its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported $2.01 EPS for the quarter, topping analysts’ consensus estimates of $1.61 by $0.40. Gilead Sciences had a net margin of 1.76% and a return on equity of 24.34%. The company had revenue of $6.95 billion for the quarter, compared to analysts’ expectations of $6.64 billion. On average, analysts forecast that Gilead Sciences will post 3.73 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Merdad Parsey sold 2,000 shares of the business’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $68.63, for a total value of $137,260.00. Following the sale, the insider now directly owns 96,380 shares in the company, valued at approximately $6,614,559.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.16% of the company’s stock.

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.