Gilead posts quarterly loss on acquisition charge, revenue rises 5% By Reuters
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Apr 25 2024
0mins
Source: Investing.com
- Gilead Sciences Financials: Reported a first-quarter loss due to a charge for acquiring CymaBay Therapeutics, but revenue increased by 5% driven by higher sales in HIV, oncology, and liver disease treatments.
- 2024 Outlook: Gilead maintains product sales expectations for 2024 but adjusted profit outlook lowered due to recent charges and expenses related to the CymaBay deal.
- Analyst Expectations: Wall Street analysts project lower earnings for Gilead in 2024 compared to company's previous range, with shares falling after the announcement.
- Revenue Performance: First-quarter revenue exceeded analyst projections, with an adjusted quarterly loss per share better than expected.
- Future Plans: Gilead CEO highlighted strong performance and ongoing clinical programs, expecting pivotal trial results later in the year and FDA decision on seladelpar by August.
Analyst Views on GILD
Wall Street analysts forecast GILD stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for GILD is 135.00 USD with a low forecast of 105.00 USD and a high forecast of 150.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
19 Analyst Rating
16 Buy
3 Hold
0 Sell
Strong Buy
Current: 121.260
Low
105.00
Averages
135.00
High
150.00
Current: 121.260
Low
105.00
Averages
135.00
High
150.00
About GILD
Gilead Sciences, Inc. is a biopharmaceutical company. It is engaged in advancing medicines to prevent and treat life-threatening diseases, including HIV, viral hepatitis, COVID-19, cancer, and inflammation. It is focused on discovering, developing, and delivering medicines to address unmet medical needs in virology, oncology, and other therapeutic areas. Its portfolio of marketed products includes Biktarvy, Genvoya, Descovy, Complera/Eviplera, Symtuza, Truvada, Stribild, Sunlenca, Epclusa, Vemlidy, Harvoni, Viread, Livdelzi, Veklury, Yescarta, Tecartus, Trodelvy, AmBisome, and Letairis. Its product candidates include Bulevirtide, Lenacapavir, Axicabtagene ciloleucel, Sacituzumab govitecan-hziy, and others. It also develops the HB-400 program and the HB-500 program. It develops therapies that are intended to provide functional cures for hepatitis B virus and human immunodeficiency virus-1. It has a cancer program, namely TREX1. It operates in more than 35 countries worldwide.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
