Gilead Sciences, Inc. (NASDAQ:GILD) shares spiked more than 4% in pre-market after the biopharmaceutical company beat estimates in its quarterly earnings. Gilead posted revenue of $8.2 billion, beating the analyst estimate of $7.61 billion and marking a 26% year-over-year increase. The company also impressed on earnings per share, posting non-GAAP EPS of $3.15, well above the analyst estimate of $2.70, and up from $.36 earnings per share in the same quarter of last year. As expected, Harvoni and Sovaldi, Gilead’s blockbuster hepatitis C drugs, brought in the bulk of the company’s revenue. The company increased its full year 2015 guidance for total sales to between $29 billion and $30 billion, up from the range of $28 billion to $29 billion. This was the first quarter that Gilead paid a $0.43 cash dividend to shareholders. As of this writing, 13 analysts are bullish on GILD and 1 is bearish. According to TipRanks, the average 12-month price target on Gilead is $119, marking a 5% potential upside from where the stock last closed.
Twitter Inc (NYSE:TWTR) shares fell more than -10% in pre-market trading down to $32.85 after the social media company released second quarter earnings highlighting the company’s struggle to increase its user base. Twitter posted quarterly revenue of $502 million and non-GAAP diluted EPS of $0.07, beating the analyst estimate of $481 million and $0.04, respectively. However, user growth is stagnating. The company posted 304 million monthly active users for the quarter, which is only a marginal increase from the 302 million MAUs from the previous quarter. Interim CEO Jack Dorsey acknowledged the disappointing figures and outlined a game plan for the company that focuses on product execution and simplifying Twitter. As of this writing, 8 analysts are bullish on Twitter and 13 are neutral. According to TipRanks, the average 12-month price target on the stock is $45.20, marking a 24% potential upside from where the stock last closed.
Ariad Pharmaceuticals, Inc. (NASDAQ:ARIA) shares increased 4% in pre-market trading up to $8.55 after the company announced it will receive up to $200 million in synthetic royalty financing from PDL BioPharma. In return, Ariad will pay PDL “mid-single-digit royalty” on future sales of Iclusig. Ariad’s drug, Iclusig, is approved in the US to be used in adult patients with chronic myeloid leukemia. Through the payments, Ariad will receive $100 million through the royalty financing program and up to an additional $100 million between 6 and 12 months from the date of the agreement. Ariad will use the funds for trials of brigatinib, its pipeline drug for patients with non-small cell lung cancer. According to the 4 analysts polled by TipRanks in the last 3 months, 2 are bullish on ARIA and 2 are neutral. The average 12-month price target on the stock is $10.50, marking a 27% increase from where the stock last closed.
Zogenix, Inc. (NASDAQ:ZGNX) shares sunk more than -4% in pre-market trading to $19.30 after the company announced a proposed public offering yesterday afternoon. The pharmaceutical company intends to offer 3.8 million shares of common stock to raise capital to fund the research and development for ZX008. Leernik Partners and Stifel will act as the joint book-managers in the offering. The pipeline drug, ZX008, aims to treat Dravet Syndrome, a rare form of epilepsy. Out of the 2 analysts polled by TipRanks in the last 3 months, both are bullish on the stock. The average 12-month price target on the stock is $24, marking a 19% increase from where shares last closed.