GILD - Gilead Q1 Earnings Preview: Most Gains Wiped Out - Cause For Concern?
2024-04-23 09:00:03 ET
Summary
- GILD stock has given up most of its late-2022 gains due to sector-wide underperformance and disappointing data from the EVOKE-01 Phase 3 trial.
- Gilead Sciences will report its Q1 2024 earnings on Thursday, April 25. Hence, and considering my last article was published in late 2022, it's time for an update.
- In this earnings preview, I take a look at the pharmaceutical company's past earnings track record and share what to expect from Gilead's Q1 earnings report.
- I also take a fresh look at Gilead's drug portfolio, patent cliff, operational qualities and balance sheet.
- Finally, I give a brief valuation update and share whether I think GILD stock is a good buy ahead of Q1 earnings.
Gilead Sciences Overview
It's been quite a while since I first covered what I termed the ugly duckling of Big Pharma, Gilead Sciences, Inc. ( GILD ). My last article was published in October 2022, when the stock got some love from Mr. Market for the first time in two years - remember the brief surge amid news of COVID-19 therapeutic Veklury (remdesivir) in 2020.
Back in late 2022, the stock spiked from around $60 to nearly $90 in response to promising - and long-awaited - signs from the company's oncology and HIV portfolio. However, GILD stock has since given back most of its gains, largely due to sector-wide underperformance (with the exception of GLP-1 receptor agonist plays Eli Lilly and Company, LLY , and Novo Nordisk A/S, NVO ) in general and disappointing data from the EVOKE-01 Phase 3 trial in January in particular....
Gilead Q1 Earnings Preview: Most Gains Wiped Out - Cause For Concern?