5 Stocks to Buy Before Their Earnings Reports

1. Gilead Sciences, Inc. (NASDAQ:GILD)

Number of Hedge Fund Holders: 68

Earnings Announcement Date: August 2

Gilead Sciences, Inc. (NASDAQ:GILD) is a Foster City, California-based biotech company that is focused on researching and developing antiviral drugs.

Gilead Sciences, Inc. (NASDAQ:GILD) is in the middle of a transformation from a pure play in the virology sector to a more diversified portfolio. The company needs to work on the optics of slowing growth. This can be either done by coming up with a new explosive drug or through a shrewd acquisition at a time when the valuations across the pharma sector are attractive. Once Gilead Sciences, Inc. (NASDAQ:GILD) manages to sort this overhang, there will be no looking back. The strategy of the oncology segment is positive, and there is a potential upside in the long term. In the last 90 days, there have been five upward revisions in Gilead Sciences, Inc.’s (NASDAQ:GILD) EPS estimates.

Here’s what ClearBridge Investments said about Gilead Sciences, Inc. (NASDAQ:GILD) in its Q4 2021 investor letter:

“Other pharma companies are providing solutions as well. Biopharmaceutical company Gilead Sciences’ remdesivir, sold under the brand name Veklury, is a broad-spectrum antiviral medication administered by intravenous infusion; it can shorten the time to recovery in hospitalized patients and reduce the risk of hospitalization and death in non-hospitalized patients.”

As of Q1 2022, 68 hedge funds held a stake in Gilead Sciences, Inc. (NASDAQ:GILD), with a cumulative stake of $4 billion.

You can also take a peek at 10 Industrial Stocks That Are ‘Must Buys’ According to Caxton Associates and 10 Small-Cap ETFs to Buy Now.

Follow Insider Monkey on Twitter