Connect with us

Business

Gilead Sciences Set to Release Quarterly Earnings Amid Positive Analyst Outlook and Promising Clinical Trial Data

Published

on

Gilead Sciences Quarterly Earnings Report

Gilead Sciences (NASDAQ: GILD) is poised to release its quarterly earnings report on Wednesday, November 6, 2024. Analysts are anticipating an earnings per share (EPS) of $1.55, and investors are keenly watching for any signs of beating this estimate as well as positive guidance for the next quarter.

In recent analyst updates, BMO Capital Markets has reiterated its Outperform rating on Gilead Sciences with a price target of $94.00. This decision is supported by positive data from the Phase 2 iMMagine-1 study, which evaluated anito-cel in treating relapsed or refractory multiple myeloma (RRMM). The study highlighted a competitive safety profile for anito-cel, particularly in terms of neurological toxicity, which could give it an edge over similar treatments like Carvykti.

The Phase 2 data also included longer-term follow-up results showing a median progression-free survival (mPFS) of 30.2 months and a median overall survival (mOS) that has not yet been reached, indicating the treatment’s potential durability and long-term efficacy. Additional Phase 2 data is expected to be presented on December 9, which could further bolster the treatment’s commercial prospects.

Gilead Sciences has also seen positive developments in other areas, including a significant 96% reduction in HIV infections with its HIV drug lenacapavir in a Phase 3 trial. The company plans to file for approval of lenacapavir by the end of 2024. Additionally, Gilead reported a 6% year-over-year rise in total product sales, driven by increases in sales of its HIV treatment Biktarvy and the oncology drug Trodelvy.

Financially, Gilead Sciences boasts a substantial market capitalization of $112.22 billion and a healthy gross profit margin of 77.44%. The company’s revenue growth, although lower than some industry peers, still reflects a positive performance with a 5.36% growth rate as of June 30, 2024. Gilead’s net margin and return on equity also surpass industry standards, highlighting its strong financial performance.

Times News Global

Times News Global is a dynamic online news portal dedicated to providing comprehensive and up-to-date news coverage across various domains including politics, business, entertainment, sports, security, features, opinions, environment, education, technology and global. affairs. Our commitment lies in sharing news that is based on factual accuracy, credibility, verifiability, authority and depth of research. We pride ourselves on being a distinctive media organization, guided by the principles enshrined in Article 19 of the Universal Declaration of Human Rights. Made up of a team of ordinary people driven by an unwavering dedication to uncovering the truth, we publish news without bias or intimidation.

Recent Posts