Cantor Fitzgerald Weighs in on Gilead Sciences, Inc.’s FY2024 Earnings (NASDAQ:GILD)

Gilead Sciences, Inc. (NASDAQ:GILD) – Equities researchers at Cantor Fitzgerald lifted their FY2024 earnings per share (EPS) estimates for shares of Gilead Sciences in a research note issued on Monday, July 22nd. Cantor Fitzgerald analyst O. Brayer now forecasts that the biopharmaceutical company will post earnings per share of $3.85 for the year, up from their previous estimate of $3.82. Cantor Fitzgerald has a “Neutral” rating and a $70.00 price target on the stock. The consensus estimate for Gilead Sciences’ current full-year earnings is $3.72 per share.

Gilead Sciences (NASDAQ:GILD) last posted its earnings results on Thursday, April 25th. The biopharmaceutical company reported ($1.32) earnings per share for the quarter, beating the consensus estimate of ($1.49) by $0.17. The company had revenue of $6.69 billion during the quarter, compared to analysts’ expectations of $6.36 billion. Gilead Sciences had a net margin of 1.76% and a return on equity of 24.34%. Gilead Sciences’s quarterly revenue was up 5.3% on a year-over-year basis. During the same period last year, the company posted $1.37 earnings per share.

A number of other research analysts also recently commented on GILD. Needham & Company LLC reiterated a “hold” rating on shares of Gilead Sciences in a research report on Friday, April 26th. Raymond James upgraded Gilead Sciences from a “market perform” rating to an “outperform” rating and set a $93.00 price objective on the stock in a research report on Monday, July 8th. Robert W. Baird reiterated a “neutral” rating and issued a $80.00 target price on shares of Gilead Sciences in a report on Thursday, June 20th. TD Cowen dropped their price objective on shares of Gilead Sciences from $90.00 to $85.00 and set a “buy” rating for the company in a research note on Friday, April 26th. Finally, StockNews.com raised shares of Gilead Sciences from a “buy” rating to a “strong-buy” rating in a research note on Saturday, April 27th. Twelve research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Gilead Sciences has an average rating of “Hold” and an average target price of $81.81.

Gilead Sciences Price Performance

NASDAQ:GILD opened at $76.51 on Wednesday. The business’s 50-day moving average is $67.61 and its 200 day moving average is $71.23. Gilead Sciences has a 12 month low of $62.07 and a 12 month high of $87.86. The company has a market capitalization of $95.32 billion, a P/E ratio of 212.53, a P/E/G ratio of 3.04 and a beta of 0.18. The company has a current ratio of 1.08, a quick ratio of 0.94 and a debt-to-equity ratio of 1.31.

Hedge Funds Weigh In On Gilead Sciences

A number of institutional investors have recently bought and sold shares of the business. Altfest L J & Co. Inc. purchased a new stake in Gilead Sciences in the fourth quarter valued at $210,000. Federated Hermes Inc. grew its holdings in Gilead Sciences by 4.9% during the fourth quarter. Federated Hermes Inc. now owns 3,787,355 shares of the biopharmaceutical company’s stock worth $306,814,000 after acquiring an additional 175,925 shares during the period. Charles Schwab Investment Management Inc. raised its position in Gilead Sciences by 1.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 7,281,489 shares of the biopharmaceutical company’s stock valued at $589,873,000 after acquiring an additional 87,482 shares in the last quarter. Wetzel Investment Advisors Inc. acquired a new position in Gilead Sciences in the fourth quarter valued at approximately $74,000. Finally, Eagle Asset Management Inc. boosted its position in Gilead Sciences by 23.6% in the 4th quarter. Eagle Asset Management Inc. now owns 317,539 shares of the biopharmaceutical company’s stock worth $25,724,000 after purchasing an additional 60,697 shares in the last quarter. 83.67% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Merdad Parsey sold 2,000 shares of Gilead Sciences stock in a transaction on Monday, July 1st. The shares were sold at an average price of $68.63, for a total transaction of $137,260.00. Following the completion of the sale, the insider now directly owns 96,380 shares in the company, valued at $6,614,559.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.16% of the stock is 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.