Gilead Sciences Given a $90.00 Price Target at BMO Capital Markets (GILD)
Equities researchers at BMO Capital Markets set a $90.00 price objective on shares of Gilead Sciences (NASDAQ:GILD) stock in a research report issued on Wednesday, American Banking & Market News reports. The firm currently has a an “outperform” rating on the stock. BMO Capital Markets’ price target suggests a potential upside of 29.50% from the stock’s previous close.
The analysts wrote, “We are maintaining our Outperform rating on shares of GILD following review of 3Q13 results. Overall GILD is firing on all cylinders with strong HIV results, better-than-expected HIV switch to next-generation drugs, best-case scenario for sofosbuvir panel review, a likely high hurdle to be established for the all-oral, interferon-free fixed dose combination and with multiple potential approvals for idelalisib in 2014. We believe that idelalisib has been particularly overlooked and with a combination with SYK inhibition as a potential path to frontline positioning believe that another blockbuster therapeutic pillar is emerging.”
Gilead Sciences (NASDAQ:GILD) traded up 4.10% during mid-day trading on Wednesday, hitting $72.3468. The stock had a trading volume of 7,012,015 shares. Gilead Sciences has a 1-year low of $30.955 and a 1-year high of $64.04. The stock’s 50-day moving average is $60.42 and its 200-day moving average is $53.59. The company has a market cap of $110.7 billion and a P/E ratio of 38.89.
Gilead Sciences (NASDAQ:GILD) last released its earnings data on Tuesday, October 29th. The company reported $0.52 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.48 by $0.04. The company had revenue of $2.78 billion for the quarter, compared to the consensus estimate of $2.72 billion. During the same quarter in the previous year, the company posted $1.00 earnings per share. The company’s revenue for the quarter was up 14.7% on a year-over-year basis. On average, analysts predict that Gilead Sciences will post $1.95 earnings per share for the current fiscal year.
In other Gilead Sciences news, EVP Kevin Young sold 75,000 shares of the company’s stock on the open market in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $68.56, for a total transaction of $5,142,000.00. The sale was disclosed in a legal filing with the SEC, which is available at this link.
Other equities research analysts have also recently issued reports about the stock. Analysts at RBC Capital raised their price target on shares of Gilead Sciences from $72.00 to $80.00 in a research note to investors on Wednesday. They now have an “outperform” rating on the stock. Separately, analysts at Deutsche Bank reiterated a “buy” rating on shares of Gilead Sciences in a research note to investors on Friday, October 25th. They now have a $77.00 price target on the stock. Finally, analysts at TheStreet reiterated a “buy” rating on shares of Gilead Sciences in a research note to investors on Monday, October 14th. Six investment analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the stock. Gilead Sciences has a consensus rating of “Buy” and a consensus price target of $69.09.
Gilead Sciences, Inc (NASDAQ:GILD) is a research-based biopharmaceutical company that discovers, develops and commercializes medicines.
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