Situated in Foster City, California, Gilead Sciences, Inc. (GILD) is a top biopharmaceutical company specializing in the development and commercialization of innovative therapies for diseases such as HIV, liver diseases, cancer, and inflammation. Its market cap currently stands at $114.2 billion. The company is set to announce its fiscal Q4 earnings results after the market closes on Tuesday, February 11.
Ahead of the event, analysts expect GILD to report a profit of $1.67 per share, down 2.9% from $1.72 per share in the year-ago quarter. The company surpassed Wall Street’s bottom-line estimates in three of the past four quarters and missed on another occasion.
For fiscal 2024, analysts expect GILD to report EPS of $4.36, down 35.1% from $6.72 in fiscal 2023. However, a robust rebound is expected in fiscal 2025, with EPS forecasted to rise by 73.2%, reaching $7.55.
GILD stock has surged 6.6% over the past year, struggling to keep up with the S&P 500’s ($SPX) 24.6% gains. However, the stock has outpaced the Health Care Select Sector SPDR Fund’s (XLV) 1% return over the same time frame.
GILD popped 6.8% on Nov. 6 after releasing its Q3 earnings report. While its EPS of $2.02 declined 11.8% year over year, it exceeded Wall Street’s estimate of $1.58. The company reported strong revenue performance, surpassing expectations with $7.55 billion, a 7% year-over-year increase. Despite a decline in net earnings due to a $1.75 billion impairment charge, strong sales from the HIV drug Biktarvy and COVID-19 treatment Veklury contributed to the performance.
Additionally, Gilead raised its 2024 product sales forecast to $27.8 billion - $28.1 billion and expects adjusted earnings of $4.25 – $4.45 per share, which boosted investor confidence.
The consensus opinion on GILD stock is cautiously bullish, with an overall “Moderate Buy” rating. Among the 29 analysts covering the stock, 17 advise a “Strong Buy” rating, and 12 suggest “Hold.”
GILD’s average analyst price target is $100.08, indicating a potential upside of 9.2% from the current price levels.
On the date of publication, Kritika Sarmah 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. More news from Barchart- How to Make a 2.0% Yield Over the Next 3 Weeks - Shorting OTM Nvidia Puts
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