Leerink Partnrs Forecasts Gilead Sciences FY2024 Earnings

Gilead Sciences, Inc. (NASDAQ:GILD) – Investment analysts at Leerink Partnrs raised their FY2024 earnings per share estimates for Gilead Sciences in a report issued on Wednesday, December 11th. Leerink Partnrs analyst D. Graybosch now anticipates that the biopharmaceutical company will post earnings of $4.48 per share for the year, up from their prior estimate of $3.66. Leerink Partnrs currently has a “Strong-Buy” rating on the stock. The consensus estimate for Gilead Sciences’ current full-year earnings is $4.35 per share. Leerink Partnrs also issued estimates for Gilead Sciences’ Q4 2024 earnings at $1.76 EPS, FY2025 earnings at $7.78 EPS, FY2026 earnings at $8.50 EPS, FY2027 earnings at $9.34 EPS and FY2028 earnings at $9.59 EPS.

Gilead Sciences (NASDAQ:GILD) last posted its earnings results on Wednesday, November 6th. The biopharmaceutical company reported $2.02 earnings per share for the quarter, topping analysts’ consensus estimates of $1.58 by $0.44. The company had revenue of $7.55 billion during the quarter, compared to the consensus estimate of $7.01 billion. Gilead Sciences had a return on equity of 29.00% and a net margin of 0.45%. The company’s revenue was up 7.0% on a year-over-year basis. During the same quarter last year, the firm earned $2.29 earnings per share.

GILD has been the topic of several other reports. Citigroup initiated coverage on shares of Gilead Sciences in a research report on Thursday, November 14th. They set a “buy” rating and a $125.00 target price on the stock. JPMorgan Chase & Co. increased their target price on shares of Gilead Sciences from $100.00 to $105.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. Cantor Fitzgerald reissued a “neutral” rating and issued a $80.00 price objective on shares of Gilead Sciences in a research note on Wednesday. Piper Sandler boosted their target price on shares of Gilead Sciences from $95.00 to $105.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Finally, BMO Capital Markets increased their price target on Gilead Sciences from $94.00 to $102.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Twelve analysts have rated the stock with a hold rating, twelve have given a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $96.43.

Gilead Sciences Stock Up 0.3 %

Shares of NASDAQ GILD opened at $91.86 on Friday. The company has a market cap of $114.48 billion, a price-to-earnings ratio of 1,020.61, a PEG ratio of 2.38 and a beta of 0.18. The company has a current ratio of 1.26, a quick ratio of 1.10 and a debt-to-equity ratio of 1.24. The stock has a 50-day moving average price of $89.96 and a two-hundred day moving average price of $79.55. Gilead Sciences has a 12 month low of $62.07 and a 12 month high of $98.90.

Gilead Sciences Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Friday, December 13th will be paid a $0.77 dividend. The ex-dividend date is Friday, December 13th. This represents a $3.08 annualized dividend and a yield of 3.35%. Gilead Sciences’s dividend payout ratio (DPR) is currently 3,422.22%.

Insider Activity

In other Gilead Sciences news, insider Merdad Parsey sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $83.83, for a total transaction of $167,660.00. Following the completion of the transaction, the insider now directly owns 100,189 shares of the company’s stock, valued at approximately $8,398,843.87. This trade represents a 1.96 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Jeffrey Bluestone sold 6,788 shares of the company’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $91.39, for a total value of $620,355.32. Following the completion of the sale, the director now owns 8,920 shares in the company, valued at $815,198.80. The trade was a 43.21 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 447,234 shares of company stock worth $41,288,086. Company insiders own 0.16% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. nVerses Capital LLC purchased a new stake in Gilead Sciences during the 3rd quarter valued at about $25,000. Valued Wealth Advisors LLC lifted its holdings in Gilead Sciences by 101.9% in the third quarter. Valued Wealth Advisors LLC now owns 319 shares of the biopharmaceutical company’s stock valued at $27,000 after acquiring an additional 161 shares during the last quarter. CarsonAllaria Wealth Management Ltd. raised its position in Gilead Sciences by 198.3% in the second quarter. CarsonAllaria Wealth Management Ltd. now owns 358 shares of the biopharmaceutical company’s stock valued at $25,000 after purchasing an additional 238 shares during the period. Strategic Investment Solutions Inc. IL purchased a new position in shares of Gilead Sciences during the 2nd quarter worth $33,000. Finally, Cedar Wealth Management LLC boosted its stake in Gilead Sciences by 51.6% during the second quarter. Cedar Wealth Management LLC now owns 470 shares of the biopharmaceutical company’s stock worth $32,000 after buying an additional 160 shares during the period. 83.67% of the stock is owned by institutional investors and hedge funds.

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.