Gilead Sciences, Inc. (NASDAQ:GILD) stock was down on Wednesday following a horrible guidance for 2017.

Gilead Sciences, Inc. says that it is expecting revenue for the full year of 2017 to be between $22.50 billion and $24.50 billion. This is down from the $30.39 billion that the company reported during 2016. Wall Street was expecting GILD’s revenue to decline in 2017, but was still expecting it to reach $28.07 billion.

Gilead Sciences, Inc.’s poor guidance for 2017 darkened its strong fourth quarter of 2016 earnings report. The company’s earnings per share for the period was $2.70. This is down from the earnings per share of $3.32 reported during the same time last year. However, it beat out analysts’ earnings per share estimate of $2.61 for the quarter.

Revenue reported by Gilead Sciences, Inc. in the fourth quarter of 2016 was $7.32 billion. This is a decline from the $8.51 billion reported during the fourth quarter of 2015. Despite this, the company’s revenue for the fourth quarter of the year still came in above Wall Street’s estimate of $7.14 billion.

Gilead Sciences, Inc. stock was also hit by a decrease in price target from Jefferies on Wednesday. Analyst Brian Abrahams took the stock down from its previous price target of $93 and set it at $83. However, the investment firm still has a Buy rating for the stock.

“Accumulating challenges to HCV franchise finally come to a head, with solid 4Q overshadowed by guidance dramatically lower than consensus,” Abrahams said in a research note obtained by StreetInsider.com.

Gilead Sciences, Inc. also announced that it will be increasing its dividend for the first quarter of 2017 by 10%. This will have the biopharmaceutical company paying investors a dividend of 52 cents for the quarter. It will be payable on March 30, 2017 to shareholders on record as of March 16, 2017.

GILD stock was down 9% as of Wednesday morning.