(GILD) Gilead Sciences Inc. – Momentum – Zacks Rank Buy

March 2nd, 2009

Gilead Sciences Inc. (GILD) continues to grow its earnings in a tough market on the strength of its HIV drug franchise. Gilead’s fourth-quarter results, reported on Jan 29, were once again of expectations.

Revenue was up 30% from last year to $1.43 billion. Earnings came in at 60 cents per share, 5 cents ahead of the consensus estimate. This was Gilead’s second consecutive earnings surprise.

Estimates Tick Higher

After the solid quarter, analysts went ahead and lifted their earnings projections. The current-year estimate is up 11 cents to $2.51 per share. The next-year estimate is bullish, pegged at $2.86, a 14% earnings growth projection.

The Chart

In spite of Gilead’s great quarter, market pressure has weighed on the company’s share price after encountering some short-term resistance just above the $53 mark. Take a look below.

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Read more on Gilead Sciences at Wikinvest


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