Gilead stories cash day after today. Right here's what to expect.

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This plague year has been good for
Gilead Sciences.
The stock is up 14.7% in 2020, beating the
SP 500,
which is up 0.3%, and the
SP 500 Health Care sector
index, up 3.8%.

About Gilead
Gilead or Gilad (; Hebrew: גִּלְעָד‎, Arabic: جلعاد‎ – Ǧalʻād, Jalaad) is the name of three persons and two geographic places in the Bible. Gilead may mean ‘hill of testimony’. If this is the case, it is likely derived from גלעד gal‛êd, which in turn comes from gal (‘heap, mound, hill’) and ‛êd (‘witness, testimony’). There also exists an alternative theory that it means ‘rocky region’. It is now within the Kingdom of Jordan.

Gilead Reports Earnings Tomorrow. Here's What to Expect.

About Reports
A report is a document that presents information in an organized format for a specific audience and purpose. Although summaries of reports may be delivered orally, complete reports are almost always in the form of written documents.

Gilead (ticker: GILD) trails the
iShares Nasdaq Biotechnology ETF
(IBB), which is up 16.2%, driven by fellow highfliers like
Regeneron Pharmaceuticals
(REGN),
Moderna
(MRNA), and others.

Much of the excitement over Gilead is due to the balm, so to speak, that the company discovered for Covid-19: A repurposed antiviral called remdesivir that the Food and Drug Administration authorized to treat Covid-19 in May.

Gilead Reports Earnings Tomorrow. Here's What to Expect.

On Thursday evening, investors will have a chance to hear how the company performed in the second quarter and what it foresees for the rest of the year when the company reports earnings.

In late June, Gilead set a price of $2,340 for a treatment course of remdesivir for governments, and $3,120 for U.S. insurance companies. The company is now testing an inhaled version of remdesivir, which could be given earlier in the course of the disease.

Shares of Gilead trade at 10.9 times earnings expected over the next 12 months, above its five-year average of 9.5 times earnings, according to FactSet.

Here’s a snapshot of investors’ expectations and recent history.

  • Analysts expect Gilead to report earnings per share of $1.47 for the second quarter and sales of $5.3 billion, according to FactSet.

  • On July 21, Gilead announced it had acquired 49.9% of a cancer immunotherapy firm called Tizona Therapeutics for $300 million, and that it has the rights to buy the rest of the company for another $1.3 billion. Shares of Gilead fell 1.7% on the day of the announcement.

  • On July 24, the FDA approved Gilead subsidiary Kite’s CAR T therapy for relapsed or refractory mantle cell lymphoma, called Tecartus.

  • Gilead said July 10 that a new analysis suggested that its antiviral remdesivir was associated with a 62% decrease in deaths in patients with severe Covid-19. Previous trials have found that the drug only shortened the duration of the disease. The analysis was based on a retroactive comparison of patients in a trial and patients who were not in a trial but were sick at the same time, and its findings must be confirmed by further clinical trials.

  • Analysts remain divided on what remdesivir sales will mean for the stock. In June, the U.S. Department of Health and Human Services said that it had secured rights for Americans to buy 500,000 treatment courses through the end of September. In a note in early July, SunTrust Robinson Humphrey analyst Robyn Karnauskas wrote that sales of the drug in the third quarter could be $1.2 billion, and sales in the fourth quarter could be $1.8 billion.

  • In March, Gilead reported first quarter earnings per share of $1.68, and first quarter sales of $5.5 billion.

Gilead has scheduled an earnings call for 4:30 p.m. eastern on Thursday.

Write to Josh Nathan-Kazis at [email protected]