Gilead Sciences, Inc. (GILD) PT Lowered to $83.00 at BMO Capital Markets
Gilead Sciences, Inc. (NASDAQ:GILD) had its price objective dropped by analysts at BMO Capital Markets from $89.00 to $83.00 in a research note issued to investors on Friday. The brokerage currently has an “outperform” rating on the biopharmaceutical company’s stock. BMO Capital Markets’ price target would indicate a potential upside of 7.69% from the stock’s previous close.
Other research analysts have also issued reports about the stock. TheStreet raised shares of Gilead Sciences from a “c+” rating to a “b-” rating in a research note on Thursday, September 7th. Jefferies Group LLC reissued a “buy” rating and issued a $82.00 target price on shares of Gilead Sciences in a research note on Tuesday, July 4th. Redburn Partners began coverage on shares of Gilead Sciences in a research note on Wednesday, July 26th. They issued a “buy” rating on the stock. Zacks Investment Research raised shares of Gilead Sciences from a “hold” rating to a “buy” rating and set a $79.00 price target on the stock in a research report on Monday, July 17th. Finally, Deutsche Bank AG reaffirmed a “buy” rating and set a $81.00 price target (up previously from $79.00) on shares of Gilead Sciences in a research report on Thursday, July 27th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $85.68.
Shares of Gilead Sciences (NASDAQ:GILD) traded down 1.04% during midday trading on Friday, reaching $77.07. The company’s stock had a trading volume of 22,760,672 shares. Gilead Sciences has a 52 week low of $63.76 and a 52 week high of $86.27. The company has a 50 day moving average price of $82.01 and a 200-day moving average price of $73.09. The stock has a market capitalization of $100.65 billion, a PE ratio of 8.37 and a beta of 1.14.
Gilead Sciences (NASDAQ:GILD) last released its earnings results on Thursday, October 26th. The biopharmaceutical company reported $2.27 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.13 by $0.14. Gilead Sciences had a net margin of 42.22% and a return on equity of 59.94%. The business had revenue of $6.51 billion for the quarter, compared to analyst estimates of $6.40 billion. During the same period last year, the company posted $2.75 EPS. The business’s revenue was down 13.2% on a year-over-year basis. On average, equities research analysts expect that Gilead Sciences will post $8.79 EPS for the current year.
In related news, EVP Gregg H. Alton sold 15,000 shares of the business’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $75.88, for a total value of $1,138,200.00. Following the completion of the sale, the executive vice president now directly owns 106,113 shares of the company’s stock, valued at $8,051,854.44. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, 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 sale, the insider now directly owns 3,199,969 shares of the company’s stock, valued at $242,749,648.34. The disclosure for this sale can be found here. Over the last three months, insiders sold 446,819 shares of company stock valued at $36,338,919. 1.30% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in GILD. Waldron LP lifted its position in Gilead Sciences by 20.4% in the first quarter. Waldron LP now owns 10,360 shares of the biopharmaceutical company’s stock valued at $711,000 after acquiring an additional 1,752 shares during the last quarter. Advisory Services Network LLC purchased a new stake in Gilead Sciences in the first quarter valued at $1,466,000. Goodwin Daniel L lifted its position in Gilead Sciences by 25.3% in the first quarter. Goodwin Daniel L now owns 18,800 shares of the biopharmaceutical company’s stock valued at $1,277,000 after acquiring an additional 3,800 shares during the last quarter. Kornitzer Capital Management Inc. KS lifted its position in Gilead Sciences by 274.1% in the first quarter. Kornitzer Capital Management Inc. KS now owns 200,221 shares of the biopharmaceutical company’s stock valued at $13,599,000 after acquiring an additional 146,706 shares during the last quarter. Finally, Channing Capital Management LLC lifted its position in Gilead Sciences by 17.3% in the first quarter. Channing Capital Management LLC now owns 101,524 shares of the biopharmaceutical company’s stock valued at $6,896,000 after acquiring an additional 14,956 shares during the last quarter. 73.88% of the stock is 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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