RBC Capital Markets reissued their buy rating on shares of Gilead Sciences Inc. (NASDAQ:GILD) in a report released on Monday morning. RBC Capital Markets currently has a $95.00 target price on the biopharmaceutical company’s stock, down from their previous target price of $105.00.
“We should see BLA acceptance on CHS-1701 on or before October 9; we should see an AdComm in April 2017 and approval soon thereafter; launch timing depends on need for 180- day waiting period. While Sandoz has not disclosed the reason for its CRL, we believe the company could be set back 2-3 years.”,” RBC Capital Markets’ analyst commented.
GILD has been the subject of a number of other reports. Barclays PLC reiterated an overweight rating on shares of Gilead Sciences in a report on Thursday, July 28th. Royal Bank Of Canada upped their price objective on Gilead Sciences from $95.00 to $105.00 and gave the stock an outperform rating in a report on Monday. Bank of America Corp. restated a neutral rating and set a $100.00 target price on shares of Gilead Sciences in a report on Sunday, September 25th. Zacks Investment Research cut Gilead Sciences from a buy rating to a hold rating in a report on Thursday, July 28th. Finally, Leerink Swann set a $112.00 target price on Gilead Sciences and gave the company a buy rating in a report on Thursday, September 22nd. Ten analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the company. The company currently has an average rating of Buy and a consensus price target of $104.71.
Shares of Gilead Sciences (NASDAQ:GILD) opened at 76.21 on Monday. The firm has a 50-day moving average price of $79.10 and a 200-day moving average price of $85.17. The firm has a market cap of $100.57 billion, a PE ratio of 6.69 and a beta of 1.10. Gilead Sciences has a 52 week low of $76.07 and a 52 week high of $111.11.
Gilead Sciences (NASDAQ:GILD) last posted its quarterly earnings data on Monday, July 25th. The biopharmaceutical company reported $3.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.02 by $0.06. Gilead Sciences had a return on equity of 106.75% and a net margin of 50.50%. The firm earned $7.78 billion during the quarter, compared to analysts’ expectations of $7.80 billion. During the same period in the prior year, the business earned $3.15 EPS. The company’s revenue for the quarter was down 5.7% compared to the same quarter last year. On average, equities research analysts predict that Gilead Sciences will post $11.76 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, September 29th. Investors of record on Friday, September 16th were paid a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 2.47%. The ex-dividend date of this dividend was Wednesday, September 14th. Gilead Sciences’s payout ratio is presently 16.56%.
In related news, Director Kevin E. Lofton sold 3,500 shares of the stock in a transaction that occurred on Wednesday, August 24th. The stock was sold at an average price of $81.97, for a total transaction of $286,895.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John C. Martin sold 100,000 shares of the stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $80.50, for a total value of $8,050,000.00. Following the transaction, the insider now directly owns 4,119,727 shares of the company’s stock, valued at $331,638,023.50. The disclosure for this sale can be found here. Corporate insiders own 1.40% of the company’s stock.
A number of institutional investors have recently made changes to their positions in GILD. Gibraltar Capital Management Inc. raised its position in shares of Gilead Sciences by 34.3% in the first quarter. Gibraltar Capital Management Inc. now owns 51,890 shares of the biopharmaceutical company’s stock worth $4,767,000 after buying an additional 13,267 shares during the last quarter. QUANTRES ASSET MANAGEMENT Ltd bought a new stake in shares of Gilead Sciences during the first quarter worth about $1,038,000. V Wealth Management LLC bought a new stake in shares of Gilead Sciences during the first quarter worth about $2,443,000. Rhenman & Partners Asset Management AB increased its stake in shares of Gilead Sciences by 45.2% in the first quarter. Rhenman & Partners Asset Management AB now owns 180,000 shares of the biopharmaceutical company’s stock worth $16,535,000 after buying an additional 56,000 shares during the period. Finally, Private Trust Co. NA increased its stake in shares of Gilead Sciences by 0.6% in the first quarter. Private Trust Co. NA now owns 25,010 shares of the biopharmaceutical company’s stock worth $2,297,000 after buying an additional 147 shares during the period. 77.94% of the stock is owned by institutional investors.
Gilead Sciences Company Profile
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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