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Gilead Sciences Posts Q4 Earnings Beat, Slumps on Weak Guidance
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Gilead Sciences Inc. (GILD - Free Report) just released its fourth quarter fiscal 2016 financial results, posting earnings, before non-recurring items, of $2.64 cents per share and revenues of $7.3 billion. Currently, GILD is a #3 (Hold) on the Zacks Rank, and is down 4.28% to $69.95 per share in trading shortly after its earnings report was released.
Beat earnings estimates. The company posted earnings of $2.64 cents per share, topping the Zacks Consensus Estimate of $2.31 cents per share. This number excludes 30 cents from non-recurring items.
Beat revenue estimates. The company saw revenue figures of $7.3 billion, surpassing our consensus estimate of $7.173 billion.
Total product sales for Q4 were $7.2 billion, compared to $8.4 billion for the same period in 2015. Antiviral product sales, which includes sales of its HIV and other antiviral products and chronic hepatitis C (HCV) products were $6.6 billion, compared to $7.9 billion in the prior year period.
Gilead announced the submission of a New Drug Application (NDA) to the FDA for an investigational, once-daily single-tablet regimen containing sofosbuvir 400 mg, velpatasvir 100 mg, and voxilaprevir 100 mg for the treatment of direct-acting antiviral (DAA)-experienced HCV-infected patients.
Looking ahead to fiscal 2017, net product sales is expected to fall in the range of $22.5 billion to $24.5 billion (analysts has forecasted sales in the range of $26 billion to $27 billion), and HCV product sales in the range of $7.5 billion to $9 billion. Product gross margin is expected in the range of 86% to 88%.
Here’s a graph that looks at Gilead’s price and EPS surprise:
Gilead Sciences, Inc. is an independent biopharmaceutical company that seeks to provide accelerated solutions for patients and the people who care for them. They have a broad-based focus on developing and marketing drugs to treat patients with infectious diseases, including viral infections, fungal infections and bacterial infections, and a specialized focus on cancer. They have expertise in liposomal drug delivery technology, a technology that the company uses to develop drugs that are safer, easier for patients to tolerate and more effective.
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Gilead Sciences Posts Q4 Earnings Beat, Slumps on Weak Guidance
Gilead Sciences Inc. (GILD - Free Report) just released its fourth quarter fiscal 2016 financial results, posting earnings, before non-recurring items, of $2.64 cents per share and revenues of $7.3 billion. Currently, GILD is a #3 (Hold) on the Zacks Rank, and is down 4.28% to $69.95 per share in trading shortly after its earnings report was released.
Beat earnings estimates. The company posted earnings of $2.64 cents per share, topping the Zacks Consensus Estimate of $2.31 cents per share. This number excludes 30 cents from non-recurring items.
Beat revenue estimates. The company saw revenue figures of $7.3 billion, surpassing our consensus estimate of $7.173 billion.
Total product sales for Q4 were $7.2 billion, compared to $8.4 billion for the same period in 2015. Antiviral product sales, which includes sales of its HIV and other antiviral products and chronic hepatitis C (HCV) products were $6.6 billion, compared to $7.9 billion in the prior year period.
Gilead announced the submission of a New Drug Application (NDA) to the FDA for an investigational, once-daily single-tablet regimen containing sofosbuvir 400 mg, velpatasvir 100 mg, and voxilaprevir 100 mg for the treatment of direct-acting antiviral (DAA)-experienced HCV-infected patients.
Looking ahead to fiscal 2017, net product sales is expected to fall in the range of $22.5 billion to $24.5 billion (analysts has forecasted sales in the range of $26 billion to $27 billion), and HCV product sales in the range of $7.5 billion to $9 billion. Product gross margin is expected in the range of 86% to 88%.
Here’s a graph that looks at Gilead’s price and EPS surprise:
Gilead Sciences, Inc. Price and EPS Surprise
Gilead Sciences, Inc. Price and EPS Surprise | Gilead Sciences, Inc. Quote
Gilead Sciences, Inc. is an independent biopharmaceutical company that seeks to provide accelerated solutions for patients and the people who care for them. They have a broad-based focus on developing and marketing drugs to treat patients with infectious diseases, including viral infections, fungal infections and bacterial infections, and a specialized focus on cancer. They have expertise in liposomal drug delivery technology, a technology that the company uses to develop drugs that are safer, easier for patients to tolerate and more effective.
Zacks' Top 10 Stocks for 2017
In addition to the stocks discussed above, would you like to know about our 10 finest buy-and-hold tickers for the entirety of 2017?
Who wouldn't? As of early December, the 2016 Top 10 produced 5 double-digit winners including oil and natural gas giant Pioneer Natural Resources which racked up a stellar +50% gain. The new list is painstakingly hand-picked from 4,400 companies covered by the Zacks Rank. Be among the very first to see it>>