CIBC Begins Coverage on Gilead Sciences, Inc. (GILD)
CIBC assumed coverage on shares of Gilead Sciences, Inc. (NASDAQ:GILD) in a report released on Thursday. The brokerage set a “market perform” rating on the biopharmaceutical company’s stock.
A number of other research firms have also recently weighed in on GILD. ValuEngine raised shares of Gilead Sciences from a “buy” rating to a “strong-buy” rating in a report on Thursday, September 7th. TheStreet raised shares of Gilead Sciences from a “c+” rating to a “b-” rating in a report on Thursday, September 7th. Zacks Investment Research cut shares of Gilead Sciences from a “buy” rating to a “hold” rating in a report on Monday, September 11th. Vetr cut shares of Gilead Sciences from a “buy” rating to a “hold” rating and set a $86.44 price objective for the company. in a report on Monday, September 4th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and issued a $93.00 price objective on shares of Gilead Sciences in a report on Wednesday. Twelve investment analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $85.36.
Shares of Gilead Sciences (NASDAQ GILD) traded up 0.45% on Thursday, reaching $82.79. 1,459,385 shares of the company traded hands. The stock has a market capitalization of $108.12 billion, a price-to-earnings ratio of 8.99 and a beta of 1.14. The company has a 50-day moving average of $80.40 and a 200-day moving average of $71.48. Gilead Sciences has a 1-year low of $63.76 and a 1-year high of $86.27.
Gilead Sciences (NASDAQ:GILD) last released its quarterly earnings data on Wednesday, July 26th. The biopharmaceutical company reported $2.56 earnings per share for the quarter, beating analysts’ consensus estimates of $2.11 by $0.45. Gilead Sciences had a net margin of 42.90% and a return on equity of 66.07%. The company had revenue of $7.14 billion during the quarter, compared to analysts’ expectations of $6.35 billion. During the same quarter in the previous year, the company earned $3.08 earnings per share. The firm’s revenue for the quarter was down 8.2% on a year-over-year basis. Analysts anticipate that Gilead Sciences will post $8.78 earnings per share for the current fiscal year.
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In related news, CFO Robin L. Washington sold 51,820 shares of the company’s stock in a transaction that occurred on Thursday, September 7th. The shares were sold at an average price of $85.00, for a total transaction of $4,404,700.00. Following the sale, the chief financial officer now directly owns 43,352 shares of the company’s stock, valued at approximately $3,684,920. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider John C. Martin sold 73,333 shares of the company’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $75.86, for a total transaction of $5,563,041.38. Following the sale, the insider now directly owns 3,199,969 shares in the company, valued at $242,749,648.34. The disclosure for this sale can be found here. Insiders sold a total of 486,819 shares of company stock worth $39,298,919 over the last three months. Insiders own 1.30% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Harel Insurance Investments & Financial Services Ltd. increased its stake in Gilead Sciences by 583.3% during the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,640 shares of the biopharmaceutical company’s stock worth $110,000 after buying an additional 1,400 shares during the period. Dubuque Bank & Trust Co. increased its stake in Gilead Sciences by 19.4% during the 1st quarter. Dubuque Bank & Trust Co. now owns 1,642 shares of the biopharmaceutical company’s stock worth $112,000 after buying an additional 267 shares during the period. Penserra Capital Management LLC increased its stake in Gilead Sciences by 9.5% during the 1st quarter. Penserra Capital Management LLC now owns 1,656 shares of the biopharmaceutical company’s stock worth $112,000 after buying an additional 144 shares during the period. Webster Bank N. A. increased its stake in Gilead Sciences by 51.7% during the 1st quarter. Webster Bank N. A. now owns 1,831 shares of the biopharmaceutical company’s stock worth $125,000 after buying an additional 624 shares during the period. Finally, American Beacon Advisors Inc. purchased a new stake in Gilead Sciences during the 1st quarter worth approximately $143,000. 73.99% 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 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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