Gilead Sciences (NASDAQ:GILD) Issues FY24 Earnings Guidance

Gilead Sciences (NASDAQ:GILD) updated its FY24 earnings guidance on Wednesday. The company provided earnings per share guidance of $4.25-4.45 for the period, compared to the consensus earnings per share 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.

Wall Street Analysts Forecast Growth

GILD has been the topic of a number of recent analyst reports. Evercore ISI raised Gilead Sciences to a “strong-buy” rating in a research note on Friday, August 9th. Leerink Partners upgraded shares of Gilead Sciences from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $74.00 to $96.00 in a research report on Monday, October 21st. Piper Sandler reissued an “overweight” rating and issued a $95.00 price target on shares of Gilead Sciences in a research note on Wednesday, September 11th. Sanford C. Bernstein assumed coverage on Gilead Sciences in a report on Thursday, October 17th. They issued an “outperform” rating and a $105.00 price objective for the company. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $75.00 price objective on shares of Gilead Sciences in a research report on Tuesday, October 29th. Ten 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’s stock. According to data from MarketBeat, Gilead Sciences presently has a consensus rating of “Moderate Buy” and an average target price of $86.85.

Gilead Sciences Price Performance

NASDAQ:GILD traded up $1.47 on Wednesday, reaching $91.69. 8,706,104 shares of the company’s stock traded hands, compared to its average volume of 7,012,313. 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 $91.98. The stock has a 50-day simple moving average of $84.32 and a 200-day simple moving average of $74.55. The firm has a market cap of $114.15 billion, a PE ratio of 111.67, a P/E/G ratio of 3.12 and a beta of 0.17.

Gilead Sciences (NASDAQ:GILD) last posted its earnings results on Thursday, August 8th. The biopharmaceutical company reported $2.01 earnings per share for the quarter, beating the consensus estimate of $1.61 by $0.40. The company had revenue of $6.95 billion during the quarter, compared to analysts’ expectations of $6.64 billion. Gilead Sciences had a net margin of 3.79% and a return on equity of 29.34%. Equities research analysts forecast that Gilead Sciences will post 3.75 earnings per share for the current year.

Insider Activity

In other Gilead Sciences news, insider Merdad Parsey sold 2,000 shares of the company’s 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 transaction, the insider now owns 100,189 shares of the company’s stock, valued at $8,398,843.87. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Gilead Sciences news, insider Merdad Parsey sold 2,000 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $83.83, for a total value of $167,660.00. Following the transaction, the insider now directly owns 100,189 shares in the company, valued at $8,398,843.87. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Johanna Mercier sold 5,490 shares of Gilead Sciences 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 sale, the insider now directly owns 114,979 shares of the company’s stock, valued at $8,506,146.42. This represents 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 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.