Gilead Sciences Inc. (GILD) Given Outperform Rating at Cowen and Company
Gilead Sciences Inc. (NASDAQ:GILD)‘s stock had its “outperform” rating reissued by research analysts at Cowen and Company in a research report issued to clients and investors on Monday. They currently have a $120.00 price objective on the biopharmaceutical company’s stock. Cowen and Company’s price target would suggest a potential upside of 64.95% from the company’s previous close.
Several other brokerages have also recently weighed in on GILD. Credit Suisse Group AG dropped their price objective on Gilead Sciences from $115.00 to $95.00 and set an “outperform” rating for the company in a report on Wednesday, September 14th. Jefferies Group reaffirmed a “hold” rating on shares of Gilead Sciences in a research note on Thursday, August 25th. Piper Jaffray Cos. reaffirmed an “overweight” rating on shares of Gilead Sciences in a research note on Tuesday, August 16th. S&P Equity Research reaffirmed a “strong-buy” rating on shares of Gilead Sciences in a research note on Wednesday, July 27th. Finally, Maxim Group reaffirmed a “hold” rating on shares of Gilead Sciences in a research note on Sunday, July 10th. Ten equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $103.60.
Gilead Sciences (NASDAQ:GILD) traded down 0.11% during mid-day trading on Monday, hitting $72.67. 2,795,307 shares of the company traded hands. The company has a market capitalization of $95.90 billion, a price-to-earnings ratio of 6.38 and a beta of 1.10. Gilead Sciences has a one year low of $72.21 and a one year high of $111.11. The company’s 50-day moving average price is $77.93 and its 200 day moving average price is $84.45.
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Gilead Sciences (NASDAQ:GILD) last announced its quarterly earnings data on Monday, July 25th. The biopharmaceutical company reported $3.08 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $3.02 by $0.06. The firm earned $7.78 billion during the quarter, compared to analysts’ expectations of $7.80 billion. Gilead Sciences had a return on equity of 106.75% and a net margin of 50.50%. The company’s quarterly revenue was down 5.7% compared to the same quarter last year. During the same period in the previous year, the business posted $3.15 EPS. On average, analysts anticipate that Gilead Sciences will post $11.76 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 29th. Investors of record on Friday, September 16th were paid a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 2.58%. The ex-dividend date was Wednesday, September 14th. Gilead Sciences’s dividend payout ratio (DPR) is presently 16.56%.
In other news, insider John C. Martin sold 100,000 shares of Gilead Sciences stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $80.50, for a total transaction of $8,050,000.00. Following the sale, the insider now directly owns 4,119,727 shares of the company’s stock, valued at $331,638,023.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kevin E. Lofton sold 3,500 shares of Gilead Sciences stock in a transaction dated Wednesday, August 24th. The shares were sold at an average price of $81.97, for a total value of $286,895.00. The disclosure for this sale can be found here. 1.40% of the stock is owned by corporate insiders.
Hedge funds have recently made changes to their positions in the stock. BNP Paribas Arbitrage SA raised its stake in shares of Gilead Sciences by 0.4% in the second quarter. BNP Paribas Arbitrage SA now owns 2,170,640 shares of the biopharmaceutical company’s stock worth $181,075,000 after buying an additional 8,430 shares during the last quarter. Adage Capital Partners GP L.L.C. raised its stake in shares of Gilead Sciences by 17.5% in the first quarter. Adage Capital Partners GP L.L.C. now owns 1,739,537 shares of the biopharmaceutical company’s stock worth $159,794,000 after buying an additional 258,807 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Gilead Sciences by 1.3% in the first quarter. Geode Capital Management LLC now owns 12,410,846 shares of the biopharmaceutical company’s stock worth $1,137,969,000 after buying an additional 161,505 shares during the last quarter. Temasek Holdings Private Ltd raised its stake in shares of Gilead Sciences by 8.1% in the first quarter. Temasek Holdings Private Ltd now owns 13,830,516 shares of the biopharmaceutical company’s stock worth $1,270,471,000 after buying an additional 1,035,592 shares during the last quarter. Finally, Omega Advisors Inc. purchased a new stake in shares of Gilead Sciences during the first quarter worth approximately $47,491,000. 78.00% of the stock is currently owned by hedge funds and other institutional investors.
About Gilead Sciences
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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