Gilead Sciences, Inc. (NASDAQ:GILD)‘s stock had its “overweight” rating reaffirmed by Barclays PLC in a note issued to investors on Wednesday. They currently have a $90.00 price target on the biopharmaceutical company’s stock. Barclays PLC’s price target would indicate a potential upside of 10.70% from the company’s previous close.
A number of other equities analysts have also recently weighed in on GILD. BidaskClub cut Gilead Sciences from a “buy” rating to a “hold” rating in a report on Wednesday, August 9th. Deutsche Bank AG reiterated a “buy” rating and set a $81.00 price target (up from $79.00) on shares of Gilead Sciences in a report on Thursday, July 27th. Mizuho reiterated a “buy” rating on shares of Gilead Sciences in a report on Friday, September 29th. Leerink Swann increased their price target on Gilead Sciences from $87.00 to $89.00 and gave the stock a “market perform” rating in a report on Thursday, October 5th. Finally, Bank of America Corporation lowered their price target on Gilead Sciences from $87.00 to $86.00 and set a “neutral” rating for the company in a report on Wednesday, October 4th. Twelve analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the stock. Gilead Sciences has a consensus rating of “Buy” and an average target price of $85.96.
Gilead Sciences (NASDAQ:GILD) last issued its earnings results on Wednesday, July 26th. The biopharmaceutical company reported $2.56 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.11 by $0.45. The company had revenue of $7.14 billion during the quarter, compared to analysts’ expectations of $6.35 billion. Gilead Sciences had a return on equity of 66.07% and a net margin of 42.90%. The firm’s quarterly revenue was down 8.2% on a year-over-year basis. During the same period in the prior year, the business earned $3.08 EPS.
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In related news, EVP Gregg H. Alton sold 40,000 shares of the firm’s stock in a transaction that occurred on 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 transaction, the executive vice president now owns 137,488 shares in the company, valued at approximately $10,174,112. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Gregg H. Alton sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $75.88, for a total value of $1,138,200.00. Following the transaction, the executive vice president now owns 106,113 shares in the company, valued at approximately $8,051,854.44. The disclosure for this sale can be found here. Insiders have sold a total of 486,819 shares of company stock worth $39,298,919 in the last three months. Corporate insiders own 1.30% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Harel Insurance Investments & Financial Services Ltd. grew 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 last quarter. Penserra Capital Management LLC grew 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 last quarter. Webster Bank N. A. grew 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 last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Gilead Sciences during the 2nd quarter worth approximately $147,000. Finally, American Beacon Advisors Inc. purchased a new position in Gilead Sciences during the 1st quarter worth approximately $143,000. Hedge funds and other institutional investors own 73.98% of the company’s stock.
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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