Gilead Sciences Coverage Initiated by Analysts at Argus (GILD)

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Argus assumed coverage on shares of Gilead Sciences (NASDAQ:GILD) in a research note issued on Monday. The firm set a “buy” rating and a $110.00 price target on the stock. Argus’ price target would indicate a potential upside of 17.82% from the stock’s previous close.

Shares of Gilead Sciences (NASDAQ:GILD) opened at 93.36 on Monday. Gilead Sciences has a 52-week low of $55.96 and a 52-week high of $94.34. The stock’s 50-day moving average is $88.85 and its 200-day moving average is $80.89. The company has a market cap of $141.1 billion and a price-to-earnings ratio of 21.05. Gilead Sciences also was the target of a significant increase in short interest in the month of July. As of July 31st, there was short interest totalling 98,473,543 shares, an increase of 3.1% from the July 15th total of 95,485,621 shares. Based on an average trading volume of 14,643,274 shares, the days-to-cover ratio is presently 6.7 days. Currently, 6.5% of the shares of the company are sold short.

Gilead Sciences (NASDAQ:GILD) last issued its quarterly earnings data on Wednesday, July 23rd. The company reported $2.36 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.73 by $0.63. The company had revenue of $6.53 billion for the quarter, compared to the consensus estimate of $5.68 billion. During the same quarter in the prior year, the company posted $0.50 earnings per share. The company’s quarterly revenue was up 136.1% on a year-over-year basis. On average, analysts predict that Gilead Sciences will post $8.02 earnings per share for the current fiscal year.

In other Gilead Sciences news, Director Richard James Whitley sold 5,000 shares of Gilead Sciences stock on the open market in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $91.00, for a total value of $455,000.00. The sale was disclosed in a filing with the SEC, which is available at this link.

A number of other firms have also recently commented on GILD. Analysts at Zacks upgraded shares of Gilead Sciences from a “neutral” rating to an “outperform” rating in a research note on Thursday, August 7th. They now have a $111.00 price target on the stock. Finally, analysts at Maxim Group raised their price target on shares of Gilead Sciences from $112.00 to $127.00 in a research note on Monday, July 28th. They now have a “buy” rating on the stock. One equities research analyst has rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $103.32.

Gilead Sciences, Inc (NASDAQ:GILD) is a research-based biopharmaceutical company that discovers, develops and commercializes medicines.

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