Gilead Sciences’s “Neutral” Rating Reaffirmed at Zacks (GILD)
Gilead Sciences (NASDAQ:GILD)‘s stock had its “neutral” rating reiterated by Zacks in a research note issued to investors on Thursday, AnalystRatings.NET reports. They currently have a $78.00 price target on the stock. Zacks‘s target price suggests a potential upside of 5.29% from the stock’s previous close.
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 sold 90,000 shares of the stock on the open market in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $67.03, for a total transaction of $6,032,700.00. Following the completion of the sale, 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 filing with the Securities & Exchange Commission, which is available at this link.
Shares of Gilead Sciences (NASDAQ:GILD) traded up 0.30% during mid-day trading on Thursday, hitting $74.08. 22,103,280 shares of the company’s stock traded hands. Gilead Sciences has a 52-week low of $46.70 and a 52-week high of $84.88. The stock has a 50-day moving average of $73.23 and a 200-day moving average of $73.87. The company has a market cap of $114.0 billion and a P/E ratio of 40.81.
Gilead Sciences (NASDAQ:GILD) last released its earnings data on Tuesday, April 22nd. The company reported $1.48 EPS for the quarter, beating the Thomson Reuters 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 prior year, the company posted $0.48 earnings per share. The company’s quarterly revenue was up 97.5% on a year-over-year basis. Analysts expect that Gilead Sciences will post $5.89 EPS for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. 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 given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $88.76.
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.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.