Leerink Swann Increases Gilead Sciences, Inc. (GILD) Price Target to $89.00
Gilead Sciences, Inc. (NASDAQ:GILD) had its price target hoisted by equities researchers at Leerink Swann from $87.00 to $89.00 in a note issued to investors on Thursday. The firm currently has a “market perform” rating on the biopharmaceutical company’s stock. Leerink Swann’s price objective indicates a potential upside of 7.98% from the company’s previous close.
Several other research analysts also recently commented on the stock. Argus raised shares of Gilead Sciences from a “hold” rating to a “buy” rating and set a $100.00 price target for the company in a report on Thursday, August 31st. Deutsche Bank AG reissued a “buy” rating and issued a $81.00 price target on shares of Gilead Sciences in a report on Thursday, August 31st. Credit Suisse Group reissued an “outperform” rating and issued a $85.00 price target (up from $79.00) on shares of Gilead Sciences in a report on Tuesday, August 29th. BidaskClub raised shares of Gilead Sciences from a “strong sell” rating to a “sell” rating in a report on Thursday, June 22nd. Finally, Vetr raised shares of Gilead Sciences from a “buy” rating to a “strong-buy” rating and set a $83.66 price target for the company in a report on Monday, June 26th. Twelve analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company’s stock. Gilead Sciences currently has an average rating of “Buy” and a consensus target price of $85.43.
Shares of Gilead Sciences (NASDAQ GILD) traded up 1.33% on Thursday, reaching $83.52. 5,927,212 shares of the company’s stock traded hands. The company’s 50-day moving average price is $80.40 and its 200 day moving average price is $71.48. Gilead Sciences has a one year low of $63.76 and a one year high of $86.27. The firm has a market cap of $109.07 billion, a P/E ratio of 9.07 and a beta of 1.14.
Gilead Sciences (NASDAQ:GILD) last announced its quarterly earnings results on Wednesday, July 26th. The biopharmaceutical company reported $2.56 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.11 by $0.45. Gilead Sciences had a net margin of 42.90% and a return on equity of 66.07%. The firm had revenue of $7.14 billion during the quarter, compared to the consensus estimate of $6.35 billion. During the same period last year, the firm earned $3.08 EPS. The business’s quarterly revenue was down 8.2% compared to the same quarter last year. On average, equities analysts forecast that Gilead Sciences will post $8.75 EPS for the current fiscal year.
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In related news, insider John C. Martin sold 73,333 shares of the business’s stock in a transaction dated 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 sale, the insider now owns 3,199,969 shares of the company’s stock, valued at $242,749,648.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Gregg H. Alton sold 40,000 shares of the business’s stock in a transaction dated Friday, July 21st. The stock was sold at an average price of $74.00, for a total transaction of $2,960,000.00. Following the sale, the executive vice president now directly owns 137,488 shares in the company, valued at approximately $10,174,112. The disclosure for this sale can be found here. Insiders have sold 486,819 shares of company stock worth $39,298,919 in the last three months. 1.30% of the stock is currently owned by insiders.
A number of large investors have recently bought and sold shares of the stock. Parnassus Investments CA lifted its stake in shares of Gilead Sciences by 37.4% in the first quarter. Parnassus Investments CA now owns 16,726,150 shares of the biopharmaceutical company’s stock worth $1,110,228,000 after buying an additional 4,556,901 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Gilead Sciences by 9.8% in the first quarter. Bank of New York Mellon Corp now owns 30,570,798 shares of the biopharmaceutical company’s stock worth $2,076,368,000 after buying an additional 2,727,063 shares in the last quarter. Renaissance Technologies LLC lifted its stake in shares of Gilead Sciences by 35.0% in the second quarter. Renaissance Technologies LLC now owns 10,407,848 shares of the biopharmaceutical company’s stock worth $736,667,000 after buying an additional 2,700,600 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Gilead Sciences by 2.4% in the second quarter. Vanguard Group Inc. now owns 92,841,960 shares of the biopharmaceutical company’s stock worth $6,571,355,000 after buying an additional 2,148,697 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its stake in shares of Gilead Sciences by 50.0% in the second quarter. The Manufacturers Life Insurance Company now owns 6,191,622 shares of the biopharmaceutical company’s stock worth $438,244,000 after buying an additional 2,062,886 shares in the last quarter. 73.99% of the stock is currently owned by institutional investors and hedge funds.
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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