Gilead Sciences Receives “Neutral” Rating from Zacks (GILD)

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Zacks reaffirmed their neutral rating on shares of Gilead Sciences (NASDAQ:GILD) in a research note issued to investors on Thursday, Analyst Ratings Network.com reports. The firm currently has a $78.00 price target on the stock.

Zacks’ analyst wrote, “Gilead made a strong start to 2014, with both revenues as well as earnings beating expectations by huge margins in the first quarter of the year. The company’s first-quarter 2014 earnings (including stock-based compensation) of $1.44 per share blew past the Zacks Consensus Estimate of $0.75 per share. The massive earnings outperformance was attributable to the exceptional performance of Sovaldi in its first full quarter in the market. Sovaldi’s strong sales ($2.27 billion) helped Gilead record total revenues of $5 billion, easily surpassing the Zacks Consensus Estimate of $4 billion. We expect Sovaldi sales to continue growing throughout 2014. We continue to have a Neutral stance on the stock. Our target price is $78.00 per share.”

In other Gilead Sciences news, EVP Norbert Bischofberger unloaded 90,000 shares of Gilead Sciences stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $67.03, for a total value of $6,032,700.00. Following the completion of the transaction, the executive vice president now directly owns 119,302 shares in the company, valued at approximately $7,996,813. The sale was disclosed in a legal filing with the SEC, which is available at this link.

GILD has been the subject of a number of other recent research reports. Analysts at Nomura reiterated a buy rating on shares of Gilead Sciences in a research note on Wednesday. They now have a $130.00 price target on the stock. Separately, analysts at Guggenheim raised their price target on shares of Gilead Sciences from $104.00 to $113.00 in a research note on Wednesday. Finally, analysts at Deutsche Bank raised their price target on shares of Gilead Sciences from $132.00 to $135.00 in a research note on Wednesday. They now have a buy rating on the stock. Four equities research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus target price of $88.76.

Gilead Sciences (NASDAQ:GILD) traded down 0.05% on Thursday, hitting $74.04. The stock had a trading volume of 20,018,490 shares. Gilead Sciences has a one year low of $46.70 and a one year high of $84.88. The stock’s 50-day moving average is $73.23 and its 200-day moving average is $73.87. The company has a market cap of $113.8 billion and a price-to-earnings ratio of 27.44.

Gilead Sciences (NASDAQ:GILD) last issued its quarterly earnings data on Tuesday, April 22nd. The company reported $1.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.63. The company had revenue of $5.00 billion for the quarter, compared to the consensus estimate of $3.80 billion. During the same quarter in the previous year, the company posted $0.48 earnings per share. The company’s revenue for the quarter was up 97.5% on a year-over-year basis. On average, analysts predict that Gilead Sciences will post $6.01 earnings per share for the current fiscal year.

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

To view Zacks’ full report, visit Zacks’ official website.

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