Stock price movements
On May 2, Gilead Sciences (GILD) reported first-quarter results. The company reported revenues of $5.28 billion in the first quarter, a YoY rise of 3.79% and in line with the consensus revenue estimate. In the first quarter, the company reported product sales of $5.20 billion, a YoY rise of 4% but a sequential decline of 8%.
In the first quarter, Gilead Sciences reported diluted EPS of $1.54, a YoY rise of 31.62%. The company also reported non-GAAP EPS of $1.76, a YoY rise of 18.92% and ahead of the consensus estimate by $0.16. According to the company’s first-quarter earnings investor presentation, the non-GAAP EPS includes a benefit of $0.09 per share associated with a favorable tax settlement.
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At the end of the first quarter, Gilead Sciences had $30.12 billion in cash and investments on its balance sheet. After the results, Gilead Sciences closed at $65.30 on May 2, 0.66% higher than the previous close, 8.26% higher than a 52-week low of $60.32, and 17.98% lower than the 52-week high of $79.61. The company’s market capitalization is $83.98 billion and its PE, forward PE, PS (price-to-sales), PB (price-to-book), and PC (price-to-cash) ratios were 15.68x, 9.41x, 3.80x, 3.93x, and 2.79x, respectively.
Gilead Sciences’ 14-day RSI (relative strength index) is currently 53.42. The number of outstanding shares for the company is 1.29 billion, while the short float ratio is 1.09%.
Analysts’ recommendations and target price
Wall Street analysts expect an upside potential of 20.07% for Gilead Sciences based on the company’s closing price on May 3. Analysts have changed the company’s 12-month consensus target price from $83.54 in February to $80.54 in March to $80.64 in April and then to $80.60 in May.
Out of 29 analysts covering Gilead Sciences, six analysts recommend a “strong buy,” 11 recommend a “buy,” and 12 recommend a “hold.” The consensus recommendation for the company is a “buy.”