According to Zacks, “Gilead is a dominant player in the HIV market. The company's HIV franchise has been performing well, thanks to recently launched TAF-based regimens Genvoya, Descovy and Odefsey. In addition to having solid presence in the HIV market, Gilead is known for its blockbuster HCV drugs, Sovaldi and Harvoni. Moreover, the company has a robust late-stage pipeline that bodes well for its long-term growth. Gilead is also working on growing its business beyond antivirals into diverse therapeutic areas. We may see activities on the merger and acquisitions front at the company. We are positive on the company’s dividend and share repurchase program. However, HCV franchise continues to witness slowdown in the U.S. and Europe due to lower sales of Harvoni. Weaker-than-expected HCV franchise sales are concerning. Gilead lowered its 2016 product sales outlook, reflecting the current trends in the payer and patient flow dynamics for HCV among other factors.”
A number of other research analysts also recently commented on the stock. Piper Jaffray Cos. reiterated a buy rating and set a $108.00 price objective on shares of Gilead Sciences in a research note on Monday, August 15th. Jefferies Group upgraded shares of Gilead Sciences from a hold rating to a buy rating and raised their price target for the stock from $76.89 to $91.00 in a research report on Tuesday, September 6th. Morgan Stanley restated a hold rating and issued a $103.00 price target on shares of Gilead Sciences in a research report on Wednesday, June 15th. Berenberg Bank assumed coverage on shares of Gilead Sciences in a research report on Thursday, September 22nd. They issued a buy rating on the stock. Finally, Maxim Group restated a hold rating on shares of Gilead Sciences in a research report on Sunday, July 10th. Eleven analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the company. The company currently has a consensus rating of Buy and a consensus price target of $104.34.
Gilead Sciences (NASDAQ:GILD) opened at 77.86 on Monday. The firm has a market capitalization of $102.75 billion, a price-to-earnings ratio of 6.83 and a beta of 1.06. Gilead Sciences has a 12 month low of $76.67 and a 12 month high of $111.11. The firm’s 50-day moving average is $79.41 and its 200 day moving average is $85.61.
Gilead Sciences (NASDAQ:GILD) last posted its quarterly earnings data on Monday, July 25th. The biopharmaceutical company reported $3.08 EPS for the quarter, beating the Zacks’ consensus estimate of $3.02 by $0.06. Gilead Sciences had a net margin of 50.50% and a return on equity of 106.75%. The firm had revenue of $7.78 billion for the quarter, compared to the consensus estimate of $7.80 billion. During the same period in the prior year, the firm posted $3.15 EPS. The firm’s revenue was down 5.7% compared to the same quarter last year. Equities analysts predict that Gilead Sciences will post $11.76 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, September 29th. Stockholders of record on Friday, September 16th were given a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.41%. The ex-dividend date was Wednesday, September 14th. Gilead Sciences’s dividend payout ratio is 16.56%.
In other news, EVP Gregg H. Alton sold 5,000 shares of Gilead Sciences stock in a transaction that occurred on Thursday, September 22nd. The shares were sold at an average price of $81.84, for a total value of $409,200.00. Following the transaction, the executive vice president now owns 132,964 shares of the company’s stock, valued at $10,881,773.76. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider John F. Milligan sold 70,000 shares of Gilead Sciences stock in a transaction that occurred on Tuesday, September 6th. The shares were sold at an average price of $77.74, for a total transaction of $5,441,800.00. Following the completion of the transaction, the insider now directly owns 1,128,963 shares in the company, valued at approximately $87,765,583.62. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by insiders.
A number of institutional investors have recently made changes to their positions in the company. Adage Capital Partners GP L.L.C. raised its position in shares of Gilead Sciences by 17.5% in the first quarter. Adage Capital Partners GP L.L.C. now owns 1,739,537 shares of the biopharmaceutical company’s stock worth $159,794,000 after buying an additional 258,807 shares during the period. Geode Capital Management LLC raised its position in shares of Gilead Sciences by 1.3% in the first quarter. Geode Capital Management LLC now owns 12,410,846 shares of the biopharmaceutical company’s stock worth $1,137,969,000 after buying an additional 161,505 shares during the period. Temasek Holdings Private Ltd raised its position in shares of Gilead Sciences by 8.1% in the first quarter. Temasek Holdings Private Ltd now owns 13,830,516 shares of the biopharmaceutical company’s stock worth $1,270,471,000 after buying an additional 1,035,592 shares during the period. Omega Advisors Inc. bought a new position in shares of Gilead Sciences during the first quarter worth about $47,491,000. Finally, Riverhead Capital Management LLC raised its position in shares of Gilead Sciences by 84.2% in the first quarter. Riverhead Capital Management LLC now owns 756,049 shares of the biopharmaceutical company’s stock worth $69,450,000 after buying an additional 345,518 shares during the period. 77.94% of the stock is currently owned by institutional investors and hedge funds.
About Gilead Sciences
Gilead Sciences, Inc is a research-based biopharmaceutical company. The Company focuses on the discovery, development and commercialization of medicines in areas of unmet medical need. The Company’s principal areas of focus include human immunodeficiency virus (HIV), liver diseases, such as chronic hepatitis C virus infection and chronic hepatitis B virus infection, cardiovascular, hematology/oncology and inflammation/respiratory.
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