Gilead Sciences (GILD) - Get Report  shares fell 5% Friday after the biopharmaceutical company reported third-quarter adjusted results in line with expectations.

The shares at last check were down 4.8% to $62.86. 

The Foster City, Calif., company reported a loss of $1.17 billion, or 92 cents a share, compared with a profit of $2.1 billion, or $1.60 a share, in the year-ago period. Adjusted EPS came in at $1.75 versus $1.84. Revenue was about flat at $5.6 billion.

Analysts were expecting adjusted EPS of $1.74 on revenue of $5.61 billion, according to FactSet.

"Gilead's third-quarter 2019 print was more or less in line, but these days the company's quarterly progress seems to take a back seat to how they ultimately deploy their substantial amount of capital," wrote J.P. Morgan analyst Cory Kasimov in a note cited by Barron's.

Gilead has 19 buys, 11 holds and one sell, according to Bloomberg. The news and financial-data service says the average price target is $79, indicating 20% upside from Thursday's close.