In the latest market close, Gilead Sciences (GILD) reached $85.21, with a +0.92% movement compared to the previous day. The stock's performance was behind the S&P 500's daily gain of 0.97%. Meanwhile, the Dow experienced a rise of 0.3%, and the technology-dominated Nasdaq saw an increase of 1.45%.

Heading into today, shares of the HIV and hepatitis C drugmaker had gained 6.64% over the past month, outpacing the Medical sector's loss of 3.72% and the S&P 500's gain of 5.41% in that time.

Analysts and investors alike will be keeping a close eye on the performance of Gilead Sciences in its upcoming earnings disclosure. The company's earnings report is set to go public on November 7, 2024. The company is predicted to post an EPS of $1.66, indicating a 27.51% decline compared to the equivalent quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $6.98 billion, down 0.98% from the year-ago period.

For the full year, the Zacks Consensus Estimates project earnings of $3.78 per share and a revenue of $27.63 billion, demonstrating changes of -43.75% and +1.9%, respectively, from the preceding year.

Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Gilead Sciences. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.11% higher. Gilead Sciences currently has a Zacks Rank of #3 (Hold).

From a valuation perspective, Gilead Sciences is currently exchanging hands at a Forward P/E ratio of 22.32. For comparison, its industry has an average Forward P/E of 22.32, which means Gilead Sciences is trading at no noticeable deviation to the group.

Investors should also note that GILD has a PEG ratio of 2.92 right now. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. As of the close of trade yesterday, the Medical - Biomedical and Genetics industry held an average PEG ratio of 2.26.