Zacks Investment Research downgraded shares of Gilead Sciences (NASDAQ:GILD) from a hold rating to a sell rating in a report released on Thursday.
According to Zacks, “Gilead’s HCV franchise is under tremendous pressure due to lower patient starts and increasing competition. Higher discounts and payer mix continue to hurt sales. Sales are expected to decline further. Moreover, Gilead has lost exclusivity for Viread and Truvada. Meanwhile, the HIV franchise maintains momentum driven by the rapid adoption of TAF-based regimens in the United States and EU. The TAF-based regimens now represent 56% of total Gilead HIV prescription volume following the launch of Genvoya and the launches of Odefsey and Descovy in 2016. However, Gilead also faces competition from generic HIV products which should impact sales. Nevertheless, the acquisition of Kite and the subsequent approval of Yescarta bodes well for Gilead given the potential in the CAR T therapy. Shares of the company have outperformed the industry in the last six months.”
Other equities analysts have also recently issued reports about the stock. William Blair reissued a buy rating on shares of Gilead Sciences in a research note on Thursday, October 19th. Berenberg Bank set a $96.00 price objective on shares of Gilead Sciences and gave the company a buy rating in a research note on Thursday, October 19th. Mizuho reissued a buy rating on shares of Gilead Sciences in a research note on Friday, September 29th. JPMorgan Chase & Co. set a $85.00 price objective on shares of Gilead Sciences and gave the company a buy rating in a research note on Wednesday, October 25th. Finally, Maxim Group raised shares of Gilead Sciences from a hold rating to a buy rating and boosted their price objective for the company from $73.67 to $94.00 in a research note on Thursday, November 30th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eighteen have assigned a buy rating to the stock. The company has a consensus rating of Buy and a consensus target price of $85.53.
Gilead Sciences (NASDAQ:GILD) last announced its quarterly earnings data on Thursday, October 26th. The biopharmaceutical company reported $2.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.13 by $0.14. The company had revenue of $6.51 billion for the quarter, compared to analysts’ expectations of $6.40 billion. Gilead Sciences had a net margin of 42.22% and a return on equity of 57.15%. Gilead Sciences’s revenue was down 13.2% compared to the same quarter last year. During the same period in the previous year, the company posted $2.75 EPS. sell-side analysts anticipate that Gilead Sciences will post 8.53 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, December 28th. Shareholders of record on Friday, December 15th were issued a $0.52 dividend. The ex-dividend date was Thursday, December 14th. This represents a $2.08 dividend on an annualized basis and a yield of 2.57%. Gilead Sciences’s dividend payout ratio (DPR) is 23.66%.
In other Gilead Sciences news, EVP James R. Meyers sold 100,000 shares of the company’s stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $80.24, for a total value of $8,024,000.00. Following the transaction, the executive vice president now directly owns 102,715 shares in the company, valued at approximately $8,241,851.60. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Gregg H. Alton sold 30,000 shares of the company’s stock in a transaction dated Thursday, January 11th. The shares were sold at an average price of $79.00, for a total transaction of $2,370,000.00. Following the completion of the transaction, the executive vice president now owns 57,114 shares in the company, valued at $4,512,006. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 591,666 shares of company stock worth $44,466,567. 1.30% of the stock is owned by insiders.
A number of large investors have recently added to or reduced their stakes in GILD. FMR LLC lifted its holdings in shares of Gilead Sciences by 1.1% during the 2nd quarter. FMR LLC now owns 23,037,303 shares of the biopharmaceutical company’s stock worth $1,630,581,000 after acquiring an additional 258,005 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Gilead Sciences by 2.4% during the 2nd quarter. Vanguard Group Inc. now owns 92,841,960 shares of the biopharmaceutical company’s stock worth $6,571,355,000 after acquiring an additional 2,148,697 shares during the period. Northern Trust Corp lifted its holdings in shares of Gilead Sciences by 0.7% during the 2nd quarter. Northern Trust Corp now owns 16,430,476 shares of the biopharmaceutical company’s stock worth $1,162,949,000 after acquiring an additional 116,780 shares during the period. Toronto Dominion Bank lifted its holdings in shares of Gilead Sciences by 19.0% during the 2nd quarter. Toronto Dominion Bank now owns 472,577 shares of the biopharmaceutical company’s stock worth $33,445,000 after acquiring an additional 75,364 shares during the period. Finally, Fagan Associates Inc. lifted its holdings in shares of Gilead Sciences by 2.6% during the 2nd quarter. Fagan Associates Inc. now owns 33,075 shares of the biopharmaceutical company’s stock worth $2,341,000 after acquiring an additional 845 shares during the period. Institutional investors own 75.95% of the company’s stock.
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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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