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Shares of Gilead Sciences (GILD - Free Report) are down about 2.6% in midday trading Wednesday after the biotech giant’s first-quarter sales fell short of analyst estimates yesterday, leaving investors disappointed. The Foster City, California-based company, known for its HIV/AIDS and hepatitis C treatments, has lost almost 23% in value over the last year.
GILD Earnings
For the first quarter, Gilead posted earnings of $2.23 per share, which came in above the Zacks Consensus Estimate of $2.25 per share. This number excludes 18 cents from non-recurring items. Total revenues of $6.5 billion, however, missed the Zacks estimate of $6.66 billion and declined 16.4% year-over-year.
Gilead reported total product sales of $6.4 billion for Q1, compared to $7.7 billion in the same period in 2016. Antiviral product sales, which include sales of its HIV, chronic hepatitis B (HBV) and chronic hepatitis C (HCV) products, were $5.8 billion for the first quarter.
Breaking its products down, Q1 sales of Truvada, Epclusa, and Solvadi all missed expectations, but sales of Genvoya surpassed Truvada for the first time, coming in at $769 million and beating analysts’ projections. Gilead’s hepatitis C drug Harvoni also topped expectations.
Gilead also said they had $34 billion in cash and equivalents at the end of the first quarter. Its CFO, Robin Washington, said in the company’s earnings release that Gilead is focusing on pursuing external transactions this year, as its last major deal was in April 2016.
Other Biotech Stocks to Consider
Many stocks in the biotech industry have recovered from the losses they suffered last year, and despite the risk associated with them—think of the many challenges related to drug approvals and the patenting process—biotechs remain good options for investors looking for steady growth.
One company to consider is Enzo Biochem, Inc. (ENZ - Free Report) . The company develops, manufactures, and markets products based on molecular biology and genetic engineering techniques to help treat cancer, diabetes, and cardiovascular diseases.
Enzo is a #2 (Buy) on the Zacks Rank, which pairs well with its Value score of ‘B’ and Growth score of ‘A.’ Its expected earnings growth for the current year is 40%, and has an average earnings surprise of 39.17%. Enzo has a market cap of roughly $407 million, and the stock has increased over 75% in value over the past one year.
Another stock to look at is Regeneron Pharmaceuticals (REGN - Free Report) . Based in Tarrytown, New York, Regeneron discovers, develops, and commercializes medicines for the treatment of serious medical conditions like eye diseases and colorectal cancer, among others.
The Zacks Rank # 2 (Buy) stock has beat earnings in three of the past four consecutive quarters, and expects earnings growth of over 72% for the current quarter. Sales are expected to grow 7.7% in the same time frame, earning the company its ‘A’ Growth score. Regeneron is a huge company, with a current market cap of $42.65 billion, and REGN stock has gained just over 4.5% in the past one year.
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They have been pinpointed by the Zacks system that nearly tripled the market from 1988 through 2015, with a stellar average gain of +26% per year. See these high-potential stocks now>>
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After Gilead Earnings, Buy These Biotech Stocks
Shares of Gilead Sciences (GILD - Free Report) are down about 2.6% in midday trading Wednesday after the biotech giant’s first-quarter sales fell short of analyst estimates yesterday, leaving investors disappointed. The Foster City, California-based company, known for its HIV/AIDS and hepatitis C treatments, has lost almost 23% in value over the last year.
GILD Earnings
For the first quarter, Gilead posted earnings of $2.23 per share, which came in above the Zacks Consensus Estimate of $2.25 per share. This number excludes 18 cents from non-recurring items. Total revenues of $6.5 billion, however, missed the Zacks estimate of $6.66 billion and declined 16.4% year-over-year.
Gilead reported total product sales of $6.4 billion for Q1, compared to $7.7 billion in the same period in 2016. Antiviral product sales, which include sales of its HIV, chronic hepatitis B (HBV) and chronic hepatitis C (HCV) products, were $5.8 billion for the first quarter.
Breaking its products down, Q1 sales of Truvada, Epclusa, and Solvadi all missed expectations, but sales of Genvoya surpassed Truvada for the first time, coming in at $769 million and beating analysts’ projections. Gilead’s hepatitis C drug Harvoni also topped expectations.
Gilead also said they had $34 billion in cash and equivalents at the end of the first quarter. Its CFO, Robin Washington, said in the company’s earnings release that Gilead is focusing on pursuing external transactions this year, as its last major deal was in April 2016.
Other Biotech Stocks to Consider
Many stocks in the biotech industry have recovered from the losses they suffered last year, and despite the risk associated with them—think of the many challenges related to drug approvals and the patenting process—biotechs remain good options for investors looking for steady growth.
One company to consider is Enzo Biochem, Inc. (ENZ - Free Report) . The company develops, manufactures, and markets products based on molecular biology and genetic engineering techniques to help treat cancer, diabetes, and cardiovascular diseases.
Enzo is a #2 (Buy) on the Zacks Rank, which pairs well with its Value score of ‘B’ and Growth score of ‘A.’ Its expected earnings growth for the current year is 40%, and has an average earnings surprise of 39.17%. Enzo has a market cap of roughly $407 million, and the stock has increased over 75% in value over the past one year.
Another stock to look at is Regeneron Pharmaceuticals (REGN - Free Report) . Based in Tarrytown, New York, Regeneron discovers, develops, and commercializes medicines for the treatment of serious medical conditions like eye diseases and colorectal cancer, among others.
The Zacks Rank # 2 (Buy) stock has beat earnings in three of the past four consecutive quarters, and expects earnings growth of over 72% for the current quarter. Sales are expected to grow 7.7% in the same time frame, earning the company its ‘A’ Growth score. Regeneron is a huge company, with a current market cap of $42.65 billion, and REGN stock has gained just over 4.5% in the past one year.
Stocks that Aren't in the News…Yet
You are invited to download the full, up-to-the-minute list of 220 Zacks Rank #1 "Strong Buys" free of charge. Many of these companies are almost unheard of by the general public and just starting to get noticed by Wall Street.
They have been pinpointed by the Zacks system that nearly tripled the market from 1988 through 2015, with a stellar average gain of +26% per year. See these high-potential stocks now>>