Cowen and Company Reiterates “Outperform” Rating for Gilead Sciences, Inc. (GILD)
Gilead Sciences, Inc. (NASDAQ:GILD)‘s stock had its “outperform” rating reissued by equities researchers at Cowen and Company in a report issued on Thursday. They currently have a $90.00 price target on the biopharmaceutical company’s stock. Cowen and Company’s price objective points to a potential upside of 7.46% from the company’s current price.
Several other research analysts also recently weighed in on the stock. Wells Fargo & Company reaffirmed a “market perform” rating and issued a $73.00 target price on shares of Gilead Sciences in a report on Thursday. Deutsche Bank AG reaffirmed a “buy” rating and issued a $81.00 target price on shares of Gilead Sciences in a report on Thursday. William Blair reaffirmed an “outperform” rating and issued a $87.00 target price on shares of Gilead Sciences in a report on Thursday. Argus raised shares of Gilead Sciences from a “hold” rating to a “buy” rating and set a $100.00 target price for the company in a report on Thursday. Finally, Berenberg Bank set a $86.00 target price on shares of Gilead Sciences and gave the stock a “buy” rating in a report on Tuesday. Twelve investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $82.26.
Shares of Gilead Sciences (NASDAQ:GILD) opened at 83.75 on Thursday. The company has a market cap of $109.37 billion, a price-to-earnings ratio of 9.10 and a beta of 1.18. The company’s 50-day moving average price is $74.38 and its 200 day moving average price is $69.29. Gilead Sciences has a 1-year low of $63.76 and a 1-year high of $84.13.
Gilead Sciences (NASDAQ:GILD) last issued its earnings results on Wednesday, July 26th. The biopharmaceutical company reported $2.56 earnings per share for the quarter, topping the consensus estimate of $2.11 by $0.45. The company had revenue of $7.14 billion during the quarter, compared to the consensus estimate of $6.35 billion. Gilead Sciences had a net margin of 42.90% and a return on equity of 66.07%. Gilead Sciences’s quarterly revenue was down 8.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.08 EPS. On average, analysts predict that Gilead Sciences will post $8.73 earnings per share for the current fiscal year.
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In other news, EVP Gregg H. Alton sold 40,000 shares of the stock in a transaction that occurred on Friday, July 21st. The shares were 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 directly owns 137,488 shares in the company, valued at $10,174,112. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider John C. Martin sold 73,333 shares of the stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $71.00, for a total transaction of $5,206,643.00. Following the transaction, the insider now owns 3,199,969 shares in the company, valued at $227,197,799. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 256,666 shares of company stock worth $19,173,184. Insiders own 1.30% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the stock. Intl Fcstone Inc. acquired a new position in Gilead Sciences during the second quarter worth about $1,110,000. Griffin Asset Management Inc. acquired a new position in Gilead Sciences during the second quarter worth about $1,151,000. Gs Investments Inc. acquired a new position in Gilead Sciences during the second quarter worth about $577,000. Paradigm Financial Advisors LLC increased its position in Gilead Sciences by 0.3% in the second quarter. Paradigm Financial Advisors LLC now owns 8,723 shares of the biopharmaceutical company’s stock worth $617,000 after buying an additional 26 shares in the last quarter. Finally, RNC Capital Management LLC increased its position in Gilead Sciences by 1.4% in the second quarter. RNC Capital Management LLC now owns 83,702 shares of the biopharmaceutical company’s stock worth $5,924,000 after buying an additional 1,185 shares in the last quarter. Hedge funds and other institutional investors own 74.04% of the company’s stock.
Gilead Sciences Company Profile
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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