Maxim Group Upgrades Gilead Sciences (GILD) to “Buy”
Gilead Sciences (NASDAQ:GILD) was upgraded by investment analysts at Maxim Group to a “buy” rating in a note issued to investors on Thursday. The brokerage currently has a $94.00 price objective on the biopharmaceutical company’s stock. Maxim Group’s target price points to a potential upside of 27.60% from the stock’s previous close.
Other equities research analysts have also issued research reports about the company. TheStreet upgraded Gilead Sciences from a “c+” rating to a “b-” rating in a research note on Thursday, September 7th. Deutsche Bank restated a “buy” rating and set a $81.00 price objective on shares of Gilead Sciences in a research note on Thursday, August 31st. BidaskClub upgraded Gilead Sciences from a “hold” rating to a “buy” rating in a research note on Wednesday, August 2nd. Argus upgraded Gilead Sciences from a “hold” rating to a “buy” rating and set a $100.00 price objective for the company in a research note on Thursday, August 31st. Finally, Berenberg Bank set a $86.00 price objective on Gilead Sciences and gave the company a “buy” rating in a research note on Tuesday, August 29th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $85.22.
Shares of Gilead Sciences (GILD) opened at $73.67 on Thursday. The company has a quick ratio of 3.56, a current ratio of 3.68 and a debt-to-equity ratio of 1.10. Gilead Sciences has a 12 month low of $63.76 and a 12 month high of $86.27. The stock has a market capitalization of $94,822.06, a PE ratio of 7.58, a PEG ratio of -1.22 and a beta of 1.13.
Gilead Sciences (NASDAQ:GILD) last posted its earnings results on Thursday, October 26th. The biopharmaceutical company reported $2.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.13 by $0.14. Gilead Sciences had a return on equity of 57.15% and a net margin of 42.22%. The business had revenue of $6.51 billion during the quarter, compared to analyst estimates of $6.40 billion. During the same quarter last year, the firm earned $2.75 earnings per share. The company’s revenue for the quarter was down 13.2% compared to the same quarter last year. analysts expect that Gilead Sciences will post 8.53 EPS for the current year.
In related news, EVP Gregg H. Alton sold 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $74.82, for a total value of $1,122,300.00. Following the sale, the executive vice president now owns 77,363 shares of the company’s stock, valued at approximately $5,788,299.66. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Gregg H. Alton sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $83.05, for a total value of $2,076,250.00. Following the completion of the sale, the executive vice president now directly owns 101,488 shares in the company, valued at approximately $8,428,578.40. The disclosure for this sale can be found here. In the last three months, insiders sold 556,819 shares of company stock worth $43,361,686. Company insiders own 1.30% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the business. Steward Partners Investment Advisory LLC bought a new stake in Gilead Sciences during the 3rd quarter valued at $1,309,000. Visionary Asset Management Inc. bought a new stake in Gilead Sciences during the 3rd quarter valued at $219,000. Public Employees Retirement System of Ohio raised its stake in Gilead Sciences by 0.5% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 900,211 shares of the biopharmaceutical company’s stock valued at $72,935,000 after acquiring an additional 4,563 shares in the last quarter. Orleans Capital Management Corp LA raised its stake in Gilead Sciences by 63.2% during the 3rd quarter. Orleans Capital Management Corp LA now owns 17,017 shares of the biopharmaceutical company’s stock valued at $1,379,000 after acquiring an additional 6,588 shares in the last quarter. Finally, Coastline Trust Co increased its position in shares of Gilead Sciences by 46.7% during the 3rd quarter. Coastline Trust Co now owns 8,985 shares of the biopharmaceutical company’s stock valued at $728,000 after purchasing an additional 2,860 shares during the period. 76.23% of the stock is currently owned by hedge funds and other 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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