Gilead Sciences (GILD) closed the latest trading day at $87.23, indicating a -1.05% change from the previous session's end. This move lagged the S&P 500's daily loss of 0.92%. Meanwhile, the Dow experienced a drop of 0.96%, and the technology-dominated Nasdaq saw a decrease of 1.6%.

The HIV and hepatitis C drugmaker's stock has climbed by 5.22% in the past month, exceeding the Medical sector's loss of 4.16% and the S&P 500's gain of 2.68%.

Investors will be eagerly watching for the performance of Gilead Sciences in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on November 6, 2024. In that report, analysts expect Gilead Sciences to post earnings of $1.62 per share. This would mark a year-over-year decline of 29.26%. At the same time, our most recent consensus estimate is projecting a revenue of $6.99 billion, reflecting a 0.86% fall from the equivalent quarter last year.

For the annual period, the Zacks Consensus Estimates anticipate earnings of $3.76 per share and a revenue of $27.67 billion, signifying shifts of -44.05% and +2.04%, respectively, from the last year.

It's also important for investors to be aware of any recent modifications to analyst estimates for Gilead Sciences. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.51% decrease. At present, Gilead Sciences boasts a Zacks Rank of #3 (Hold).

Digging into valuation, Gilead Sciences currently has a Forward P/E ratio of 23.45. This represents a premium compared to its industry's average Forward P/E of 22.73.

We can also see that GILD currently has a PEG ratio of 3.07. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Medical - Biomedical and Genetics industry had an average PEG ratio of 2.37 as trading concluded yesterday.