Gilead Sciences Inc. (NASDAQ:GILD)‘s stock had its “buy” rating reaffirmed by analysts at RBC Capital Markets in a research report issued on Monday. They presently have a $95.00 price target on the biopharmaceutical company’s stock, down from their previous price target of $105.00. RBC Capital Markets’ target price would suggest a potential upside of 22.45% from the company’s previous close.
The analysts wrote, “We should see BLA acceptance on CHS-1701 on or before October 9; we should see an AdComm in April 2017 and approval soon thereafter; launch timing depends on need for 180- day waiting period. While Sandoz has not disclosed the reason for its CRL, we believe the company could be set back 2-3 years.””
Several other research analysts have also commented on GILD. Piper Jaffray Cos. set a $108.00 price target on Gilead Sciences and gave the stock a “buy” rating in a research report on Sunday, August 21st. Jefferies Group reaffirmed a “hold” rating and set a $96.00 price target on shares of Gilead Sciences in a research report on Wednesday, June 29th. Leerink Swann reaffirmed an “outperform” rating and set a $127.00 price target on shares of Gilead Sciences in a research report on Wednesday, June 29th. Zacks Investment Research raised Gilead Sciences from a “sell” rating to a “hold” rating in a research report on Monday, September 26th. Finally, Needham & Company LLC lowered Gilead Sciences from a “buy” rating to a “hold” rating and lifted their price target for the stock from $84.60 to $88.55 in a research report on Tuesday, July 26th. Ten analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the stock. Gilead Sciences presently has a consensus rating of “Buy” and a consensus target price of $104.63.
Shares of Gilead Sciences (NASDAQ:GILD) traded down 1.85% on Monday, hitting $77.66. The stock had a trading volume of 7,841,721 shares. The company has a market cap of $102.48 billion, a price-to-earnings ratio of 6.82 and a beta of 1.10. The firm’s 50-day moving average is $79.40 and its 200-day moving average is $85.53. Gilead Sciences has a one year low of $76.67 and a one year high of $111.11.
Gilead Sciences (NASDAQ:GILD) last released its quarterly earnings results on Monday, July 25th. The biopharmaceutical company reported $3.08 EPS for the quarter, topping the consensus estimate of $3.02 by $0.06. The company had revenue of $7.78 billion for the quarter, compared to analyst estimates of $7.80 billion. Gilead Sciences had a return on equity of 106.75% and a net margin of 50.50%. The firm’s revenue was down 5.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.15 earnings per share. On average, analysts expect that Gilead Sciences will post $11.76 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 29th. Shareholders of record on Friday, September 16th were paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 2.42%. The ex-dividend date was Wednesday, September 14th. Gilead Sciences’s payout ratio is currently 16.56%.
In other news, CEO John F. Milligan sold 112,000 shares of the stock in a transaction that occurred on Tuesday, July 5th. The stock was sold at an average price of $84.33, for a total transaction of $9,444,960.00. Following the sale, the chief executive officer now directly owns 1,170,963 shares in the company, valued at approximately $98,747,309.79. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Paul Rutherford Carter sold 2,000 shares of the stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $79.81, for a total value of $159,620.00. Following the sale, the executive vice president now owns 64,122 shares in the company, valued at $5,117,576.82. The disclosure for this sale can be found here. Company insiders own 1.40% of the company’s stock.
Several hedge funds have recently made changes to their positions in the company. CWM LLC boosted its stake in shares of Gilead Sciences by 0.6% in the second quarter. CWM LLC now owns 2,957 shares of the biopharmaceutical company’s stock worth $247,000 after buying an additional 17 shares during the last quarter. Cadence Bank NA boosted its stake in shares of Gilead Sciences by 0.8% in the second quarter. Cadence Bank NA now owns 3,727 shares of the biopharmaceutical company’s stock worth $311,000 after buying an additional 28 shares during the last quarter. Marble Harbor Investment Counsel LLC boosted its stake in shares of Gilead Sciences by 0.9% in the second quarter. Marble Harbor Investment Counsel LLC now owns 3,330 shares of the biopharmaceutical company’s stock worth $278,000 after buying an additional 30 shares during the last quarter. Birch Hill Investment Advisors LLC boosted its stake in shares of Gilead Sciences by 0.9% in the second quarter. Birch Hill Investment Advisors LLC now owns 3,336 shares of the biopharmaceutical company’s stock worth $278,000 after buying an additional 30 shares during the last quarter. Finally, Blume Capital Management Inc. boosted its stake in shares of Gilead Sciences by 0.9% in the second quarter. Blume Capital Management Inc. now owns 5,500 shares of the biopharmaceutical company’s stock worth $459,000 after buying an additional 50 shares during the last quarter. Institutional investors and hedge funds own 77.94% of the company’s stock.
Gilead Sciences Company Profile
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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