Gilead Sciences, Inc. (GILD) Given New $89.00 Price Target at Leerink Swann
Gilead Sciences, Inc. (NASDAQ:GILD) had its price target raised by Leerink Swann from $87.00 to $89.00 in a research report report published on Thursday. The firm currently has a market perform rating on the biopharmaceutical company’s stock.
Several other brokerages have also issued reports on GILD. BidaskClub lowered Gilead Sciences from a buy rating to a hold rating in a research report on Wednesday, August 9th. Mizuho restated a buy rating on shares of Gilead Sciences in a research report on Friday, September 29th. Jefferies Group LLC assumed coverage on Gilead Sciences in a research report on Thursday. They set a positive rating for the company. Deutsche Bank AG restated a buy rating and set a $81.00 target price (up previously from $79.00) on shares of Gilead Sciences in a research report on Thursday, July 27th. Finally, Bank of America Corporation dropped their target price on Gilead Sciences from $87.00 to $86.00 and set a neutral rating for the company in a research report on Wednesday. Twelve investment analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. Gilead Sciences presently has a consensus rating of Buy and an average target price of $85.66.
Shares of Gilead Sciences (NASDAQ:GILD) traded down 1.64% during midday trading on Thursday, reaching $82.14. The company had a trading volume of 5,797,031 shares. Gilead Sciences has a 52 week low of $63.76 and a 52 week high of $86.27. The firm has a market capitalization of $107.27 billion, a price-to-earnings ratio of 8.92 and a beta of 1.14. The stock has a 50-day moving average of $80.69 and a 200 day moving average of $71.56.
Gilead Sciences (NASDAQ:GILD) last issued its quarterly earnings data on Wednesday, July 26th. The biopharmaceutical company reported $2.56 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.11 by $0.45. Gilead Sciences had a return on equity of 66.07% and a net margin of 42.90%. The company had revenue of $7.14 billion for the quarter, compared to analysts’ expectations of $6.35 billion. During the same period in the previous year, the firm posted $3.08 earnings per share. The firm’s revenue for the quarter was down 8.2% on a year-over-year basis. On average, analysts anticipate that Gilead Sciences will post $8.75 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 28th. Investors of record on Friday, September 15th were given a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 2.53%. The ex-dividend date was Thursday, September 14th. Gilead Sciences’s payout ratio is 22.58%.
In other Gilead Sciences news, CFO Robin L. Washington sold 51,820 shares of the stock in a transaction dated Thursday, September 7th. The stock was sold at an average price of $85.00, for a total transaction of $4,404,700.00. Following the sale, the chief financial officer now directly owns 43,352 shares of the company’s stock, valued at approximately $3,684,920. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Gregg H. Alton sold 40,000 shares of the stock in a transaction dated Friday, July 21st. The stock was sold at an average price of $74.00, for a total value of $2,960,000.00. Following the sale, the executive vice president now directly owns 137,488 shares in the company, valued at $10,174,112. The disclosure for this sale can be found here. Over the last three months, insiders sold 486,819 shares of company stock worth $39,298,919. 1.30% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in GILD. Parnassus Investments CA grew its position in Gilead Sciences by 37.4% during the 1st quarter. Parnassus Investments CA now owns 16,726,150 shares of the biopharmaceutical company’s stock worth $1,110,228,000 after purchasing an additional 4,556,901 shares during the period. Bank of New York Mellon Corp grew its position in Gilead Sciences by 9.8% during the 1st quarter. Bank of New York Mellon Corp now owns 30,570,798 shares of the biopharmaceutical company’s stock worth $2,076,368,000 after purchasing an additional 2,727,063 shares during the period. Renaissance Technologies LLC grew its position in Gilead Sciences by 35.0% during the 2nd quarter. Renaissance Technologies LLC now owns 10,407,848 shares of the biopharmaceutical company’s stock worth $736,667,000 after purchasing an additional 2,700,600 shares during the period. Vanguard Group Inc. grew its position in 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 purchasing an additional 2,148,697 shares during the period. Finally, The Manufacturers Life Insurance Company grew its position in Gilead Sciences by 50.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 6,191,622 shares of the biopharmaceutical company’s stock worth $438,244,000 after purchasing an additional 2,062,886 shares during the period. 73.99% of the stock is currently owned by 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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