HIV Drugmaker Gilead Reports Strongest Quarterly Performance Of 2024, Analysts Boost Price Target On Raised Outlook

Gilead Sciences Inc (NASDAQ:GILD) stock is trading higher on Thursday after the company reported better-than-expected third-quarter financial results and raised its fiscal year 2024 guidance.

On Wednesday after market, Gilead reported third-quarter adjusted EPS of $2.02, down from $2.29 a year ago, beating the consensus of $1.55.

The HIV drug maker reported sales of $7.55 billion, up 7% year over year, beating the consensus of $7 billion, primarily due to higher sales in HIV and Veklury (remdesivir), Oncology and Liver Disease.

Also Read: Gilead Sciences/Merck’s Investigational Once-Weekly HIV Combo Therapy Shows Sustained Virus Suppression To 48 Weeks

HIV product sales increased 9% to $5.1 billion, with Biktarvy sales increased 13% to $3.5 billion. Descovy sales jumped 15% to $586 million.

The Liver Disease portfolio sales increased 4% to $733 million. Veklury sales ...

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