Gilead Sciences Shares Gap Up After Analyst Upgrade (GILD)
Gilead Sciences (NASDAQ:GILD)’s share price gapped up before the market opened on Friday after Cowen and Company raised their price target on the stock from $95.00 to $105.00, Analyst Ratings Net reports. The stock had previously closed at $95.69, but opened at $96.36. Cowen and Company currently has an outperform rating on the stock. Gilead Sciences shares last traded at $97.93, with a volume of 11,536,072 shares trading hands.
A number of other firms have also recently commented on GILD. Analysts at RBC Capital initiated coverage on shares of Gilead Sciences in a research note on Friday. They set an “outperform” rating on the stock. Separately, analysts at FBR Capital Markets initiated coverage on shares of Gilead Sciences in a research note on Thursday. They set an “outperform” rating and a $125.00 price target on the stock. Finally, analysts at Argus initiated coverage on shares of Gilead Sciences in a research note on Monday. They set a “buy” rating and a $110.00 price target on the stock. One analyst has rated the stock with a hold rating and twenty-one have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $105.05.
In other Gilead Sciences news, Director Richard James Whitley sold 5,000 shares of the company’s stock on the open market in a transaction dated Friday, August 1st. The stock was sold at an average price of $91.00, for a total value of $455,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
The stock’s 50-day moving average is $90.1 and its 200-day moving average is $81.24. The company has a market cap of $150.4 billion and a P/E ratio of 21.83. Gilead Sciences also saw unusually large options trading activity on Friday. Investors bought 95,735 call options on the stock. This represents an increase of 217% compared to the average daily volume of 30,213 call options.
Gilead Sciences (NASDAQ:GILD) last released its earnings data on Wednesday, July 23rd. The company reported $2.36 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.73 by $0.63. The company had revenue of $6.53 billion for the quarter, compared to the consensus estimate of $5.68 billion. During the same quarter in the prior year, the company posted $0.50 earnings per share. The company’s quarterly revenue was up 136.1% on a year-over-year basis. Analysts expect that Gilead Sciences will post $8.02 EPS for the current fiscal year.
Gilead Sciences, Inc (NASDAQ:GILD) is a research-based biopharmaceutical company that discovers, develops and commercializes medicines.
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