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Based in Foster City, California, Gilead Sciences, Inc. (GILD) is a global leader in biopharmaceuticals, renowned for its pioneering advancements in antiviral therapies. With a market cap of $91.32 billion, Gilead is recognized for its innovative portfolio that enhances patient care through cutting-edge treatments for diseases like HIV, hepatitis, and cancer. The company is set to announce its fiscal Q2 earnings results after the market closes on Thursday, Aug. 8.
Ahead of the event, analysts expect GILD to report a profit of $1.58 per share, up 17.9% from $1.34 per share in the year-ago quarter. In the last four quarters, the company surpassed Wall Street’s bottom-line estimates in two and missed on two occasions.
Gilead Sciences' adjusted loss of $1.32 per share for the last quarter surpassed the consensus estimate by 11.4%. Higher-than-expected revenues drove the company's performance last quarter.
For fiscal 2024, analysts expect GILD to report EPS of $3.71, down 44.8% from $6.72 in fiscal 2023. However, EPS is expected to increase 94.6% year over year to $7.22.
GILD stock has declined 9.5% on a YTD basis, underperforming the broader S&P 500 Index's ($SPX) 17.2% gains and the iShares Biotechnology ETF’s (IBB) 7.7% returns over the same time frame.
Gilead Sciences’ stock surged 4% on Jun. 26 due to encouraging developments in drug trials, a positive industry outlook, and growing investor confidence.
GILD’s shares dropped 2.7% on Apr. 25 after the company reported Q1 earnings results. Revenue for the period was $6.69 billion, exceeding analysts' forecasts of $6.33 million.
The consensus opinion on GILD stock is optimistic, with an overall “Moderate Buy” rating. Of the 25 analysts covering the stock, 11 advise a “Strong Buy” rating, one recommends a “Moderate Buy,” and 13 suggest “Hold.”
This configuration is slightly more bullish than three months ago when the stock had 10 “Strong Buy” ratings. GILD’s average analyst price target is $84.46, indicating a potential upside of 15.2% from the current levels.
On the date of publication, Rashmi Kumari did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
