Bank of America Corporation Trims Gilead Sciences, Inc. (GILD) Target Price to $86.00
Gilead Sciences, Inc. (NASDAQ:GILD) had its price target lowered by equities researchers at Bank of America Corporation from $87.00 to $86.00 in a report released on Wednesday. The brokerage presently has a “neutral” rating on the biopharmaceutical company’s stock. Bank of America Corporation’s price objective would indicate a potential upside of 3.38% from the company’s previous close.
Other analysts have also issued research reports about the stock. Jefferies Group LLC restated a “hold” rating and set a $80.00 price target on shares of Gilead Sciences in a research note on Tuesday, July 11th. BMO Capital Markets restated an “outperform” rating and set a $82.00 price objective (up previously from $72.00) on shares of Gilead Sciences in a report on Thursday, July 27th. Robert W. Baird reaffirmed an “outperform” rating and issued a $87.00 price objective on shares of Gilead Sciences in a research note on Thursday, July 13th. J P Morgan Chase & Co reaffirmed an “overweight” rating and issued a $82.00 price objective on shares of Gilead Sciences in a research note on Tuesday, July 4th. Finally, BidaskClub upgraded shares of Gilead Sciences from a “strong sell” rating to a “sell” rating in a report on Thursday, June 22nd. Eleven analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $85.36.
Gilead Sciences (NASDAQ GILD) traded down 0.88% during mid-day trading on Wednesday, hitting $82.46. 3,910,945 shares of the stock were exchanged. The stock has a 50 day moving average price of $80.13 and a 200 day moving average price of $71.40. Gilead Sciences has a 1-year low of $63.76 and a 1-year high of $86.27. The company has a market capitalization of $107.69 billion, a PE ratio of 8.96 and a beta of 1.14.
Gilead Sciences (NASDAQ:GILD) last issued its earnings results on Wednesday, July 26th. The biopharmaceutical company reported $2.56 earnings per share for the quarter, topping analysts’ consensus estimates of $2.11 by $0.45. Gilead Sciences had a return on equity of 66.07% and a net margin of 42.90%. The company had revenue of $7.14 billion for the quarter, compared to analyst estimates of $6.35 billion. During the same period in the prior year, the firm earned $3.08 earnings per share. Gilead Sciences’s revenue for the quarter was down 8.2% on a year-over-year basis. On average, equities analysts anticipate that Gilead Sciences will post $8.78 earnings per share for the current fiscal year.
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In other news, insider John C. Martin sold 73,333 shares of the business’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $75.86, for a total transaction of $5,563,041.38. Following the completion of the transaction, the insider now directly owns 3,199,969 shares in the company, valued at approximately $242,749,648.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Robin L. Washington sold 51,820 shares of the company’s stock in a transaction on Thursday, September 7th. The stock was sold at an average price of $85.00, for a total transaction of $4,404,700.00. Following the completion of the transaction, the chief financial officer now directly owns 43,352 shares in the company, valued at approximately $3,684,920. The disclosure for this sale can be found here. Insiders have sold a total of 388,486 shares of company stock worth $31,178,297 in the last ninety days. 1.30% of the stock is currently owned by insiders.
A number of large investors have recently bought and sold shares of GILD. Saturna Capital boosted its stake in Gilead Sciences by 2.0% during the third quarter. Saturna Capital now owns 18,218 shares of the biopharmaceutical company’s stock valued at $1,789,000 after buying an additional 362 shares during the period. Terra Nova Asset Management grew its position in Gilead Sciences by 5.9% during the third quarter. Terra Nova Asset Management now owns 24,370 shares of the biopharmaceutical company’s stock worth $2,393,000 after buying an additional 1,365 shares in the last quarter. ING Groep increased its stake in Gilead Sciences by 13.7% in the 3rd quarter. ING Groep now owns 1,794,724 shares of the biopharmaceutical company’s stock worth $176,081,000 after acquiring an additional 216,203 shares during the last quarter. Palo Capital increased its stake in Gilead Sciences by 5.8% in the 3rd quarter. Palo Capital now owns 15,665 shares of the biopharmaceutical company’s stock worth $1,538,000 after acquiring an additional 860 shares during the last quarter. Finally, Crow Point Partners bought a new position in Gilead Sciences in the 3rd quarter worth about $386,000. 73.99% of the stock is owned by institutional investors.
Gilead Sciences Company Profile
Gilead Sciences, Inc is a research-based biopharmaceutical company that discovers, develops and commercializes medicines in areas of unmet medical need. The Company’s portfolio of products and pipeline of investigational drugs includes treatments for Human Immunodeficiency Virus/Acquired Immune Deficiency Syndrome (HIV/AIDS), liver diseases, cancer, inflammatory and respiratory diseases and cardiovascular conditions.
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