The earnings season for the drug/biotech sector is now in its final lap, with some large biotech and generic drug companies due to report their third-quarter 2024 results this week.The remaining large drugmakers have already reported their results. Many of these companies beat estimates for both earnings and sales. While some like Pfizer and AbbVie raised their guidance ranges, others like Eli Lilly & Merck cut their outlook.Per the Zacks classification, the pharma/biotech industry comes under the broader M ...

The upcoming report from Gilead Sciences (GILD) is expected to reveal quarterly earnings of $1.58 per share, indicating a decline of 31% compared to the year-ago period. Analysts forecast revenues of $6.99 billion, representing a decrease of 0.9% year over year. The consensus EPS estimate for the quarter has undergone a downward revision of 2.4% in the past 30 days, bringing it to its present level. This represents how the covering analysts, as a whole, have reassessed their initial estimates during this ti ...

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Company Performance - Gilead Sciences (GILD) closed at $87.23, reflecting a -1.05% change from the previous session, underperforming compared to the S&P 500's daily loss of 0.92% [1] - The stock has increased by 5.22% over the past month, outperforming the Medical sector's loss of 4.16% and the S&P 500's gain of 2.68% [1] - Upcoming earnings report is scheduled for November 6, 2024, with expected earnings of $1.62 per share, indicating a year-over-year decline of 29.26% [1] - Projected revenue for the upcoming quarter is $6.99 billion, reflecting a 0.86% decrease from the same quarter last year [1] Annual Estimates - For the annual period, earnings are anticipated to be $3.76 per share, representing a -44.05% change from the previous year, while revenue is expected to be $27.67 billion, showing a +2.04% increase [2] Analyst Estimates and Valuation - Recent revisions to analyst estimates indicate near-term business trends, with positive revisions suggesting analyst optimism about Gilead's profitability [2] - The Zacks Rank system currently rates Gilead Sciences at 3 (Hold), with a 0.51% decrease in the Zacks Consensus EPS estimate over the last 30 days [3] - Gilead Sciences has a Forward P/E ratio of 23.45, which is higher than the industry average of 22.73 [3] - The company has a PEG ratio of 3.07, compared to the industry average PEG ratio of 2.37 [3] Industry Overview - The Medical - Biomedical and Genetics industry, part of the Medical sector, holds a Zacks Industry Rank of 76, placing it in the top 31% of over 250 industries [4] - The Zacks Industry Rank assesses the strength of industry groups based on the average Zacks Rank of individual stocks, with top-rated industries outperforming the bottom half by a factor of 2 to 1 [4]

Summary of Analyst Ratings Changes Group 1: Analyst Coverage Initiations - Loop Capital analyst Anthony Chukumba initiated coverage on Grocery Outlet Holding Corp. (GO) with a Hold rating and a price target of $17, while shares closed at $16.45 [1] - Bernstein analyst Aaron Gal initiated coverage on Gilead Sciences, Inc. (GILD) with an Outperform rating and a price target of $105, with shares closing at $85.82 [1] - Stephens & Co. analyst Jim Salera initiated coverage on First Watch Restaurant Group, Inc. (FWRG) with an Overweight rating and a price target of $20, while shares closed at $14.77 [1] - BTIG analyst Sam Eiber initiated coverage on InMode Ltd. (INMD) with a Buy rating and a price target of $25, with shares closing at $16.65 [1] - HC Wainwright & Co. analyst Mitchell Kapoor initiated coverage on Alumis Inc. (ALMS) with a Buy rating and a price target of $30, while shares closed at $11.20 [1]

Gilead Sciences, Inc. (GILD) recently announced additional efficacy, safety and demographic data from its late-stage study on lenacapavir, a twice-yearly injectable HIV-1 capsid inhibitor, for the prevention of HIV. Data reinforce that twice-yearly lenacapavir could be a highly effective and potentially game-changing HIV prevention option. Additional Data From GILD's HIV Study The double-blind, multicenter, randomized study phase III study, PURPOSE 2, is evaluating the safety and efficacy of twice-yearly su ...

In the latest market close, Gilead Sciences (GILD) reached $85.21, with a +0.92% movement compared to the previous day. The stock's performance was behind the S&P 500's daily gain of 0.97%. Meanwhile, the Dow experienced a rise of 0.3%, and the technology-dominated Nasdaq saw an increase of 1.45%.Heading into today, shares of the HIV and hepatitis C drugmaker had gained 6.64% over the past month, outpacing the Medical sector's loss of 3.72% and the S&P 500's gain of 5.41% in that time.Analysts and investors ...

Core Viewpoint - Gilead's lenacapavir drug is expected to significantly enhance the company's revenue and profit margins by effectively preventing nearly all HIV transmission, positioning it as a potential blockbuster product for the firm [1] Group 1 - Gilead's lenacapavir drug has shown promising results in preventing HIV transmission [1] - The long-term financial outlook for Gilead is positive due to the anticipated success of lenacapavir [1]

Core Insights - Gilead Sciences has entered licensing agreements with six pharmaceutical companies to produce a low-cost version of lenacapavir for HIV prevention in 120 low-and lower-middle-income countries [1][3] - Lenacapavir has shown promising results in late-stage studies, achieving primary efficacy goals and demonstrating superior efficacy compared to Truvada [2] - Gilead aims to support access to lenacapavir through a royalty-free licensing program and will supply the drug at no profit until generic manufacturers can meet demand [3][5] Licensing Agreements - The selected companies for manufacturing lenacapavir include Dr. Reddy's Laboratories, Emcure, Eva Pharma, Ferozsons Laboratories, Hetero, and Mylan [1] - The agreements cover lenacapavir for both prevention and treatment of multi-drug-resistant HIV [3] - Gilead's choice of partners was based on their experience in producing high-quality generics and sterile injectable medicines [3] Market Strategy - Gilead plans to register lenacapavir in 18 countries that account for approximately 70% of the HIV burden in the licensed regions [5] - The countries targeted for registration include Botswana, Kenya, Nigeria, South Africa, and others [5] - Gilead has previously enabled access to affordable treatments for HIV and other diseases through partnerships, distributing over 30 million treatments in low-and middle-income countries [5] Clinical Development - Two pivotal studies, PURPOSE 1 and PURPOSE 2, have shown that lenacapavir, administered twice a year, is more effective than the daily oral dose of Truvada [2] - Gilead plans to submit global regulatory filings for lenacapavir by the end of 2024 [2] - Year-to-date, Gilead's shares have increased by 4.6%, outperforming the industry average decline of 1.5% [2]

Company Performance - Gilead Sciences closed at $83.79, with a -0.24% change from the previous session, underperforming the S&P 500's gain of 0.25% [1] - The stock has increased by 9.13% over the past month, contrasting with the Medical sector's loss of 1.51% and the S&P 500's gain of 1.65% [1] - The upcoming earnings report is projected to show earnings per share (EPS) of $1.66, a decrease of 27.51% year-over-year, with expected quarterly revenue of $6.98 billion, down 0.98% from the previous year [1] Fiscal Year Estimates - For the entire fiscal year, earnings are projected at $3.78 per share, representing a -43.75% change from the prior year, while revenue is expected to be $27.63 billion, reflecting a +1.9% change [2] - Recent revisions to analyst forecasts are important as they indicate short-term business trends, with positive revisions seen as a favorable sign for the company's outlook [2] Valuation Metrics - Gilead Sciences has a Forward P/E ratio of 22.23, which is higher than the industry average of 21.46, suggesting it is trading at a premium [3] - The company has a PEG ratio of 2.91, compared to the industry average PEG ratio of 2.21, indicating a higher valuation relative to projected earnings growth [3] Industry Context - The Medical - Biomedical and Genetics industry, part of the Medical sector, holds a Zacks Industry Rank of 80, placing it in the top 32% of over 250 industries [4] - The Zacks Industry Rank measures the strength of industry groups, with the top 50% rated industries outperforming the bottom half by a factor of 2 to 1 [4]