Gilead Sciences Inc. (GILD) Stock Rating Lowered by Leerink Swann
Gilead Sciences Inc. (NASDAQ:GILD) was downgraded by stock analysts at Leerink Swann from an “outperform” rating to a “market perform” rating in a report released on Tuesday. They currently have a $94.00 price target on the biopharmaceutical company’s stock, down from their previous price target of $112.00. Leerink Swann’s target price points to a potential upside of 19.03% from the stock’s current price.
A number of other equities analysts also recently issued reports on the company. Piper Jaffray Cos. restated a “buy” rating and issued a $108.00 price target on shares of Gilead Sciences in a research note on Monday, August 15th. Jefferies Group upgraded Gilead Sciences from a “hold” rating to a “buy” rating and raised their price target for the stock from $76.89 to $91.00 in a research note on Tuesday, September 6th. Morgan Stanley restated a “hold” rating and issued a $103.00 price target on shares of Gilead Sciences in a research note on Wednesday, June 15th. Berenberg Bank started coverage on Gilead Sciences in a research note on Thursday, September 22nd. They issued a “buy” rating on the stock. Finally, Maxim Group restated a “hold” rating on shares of Gilead Sciences in a research note on Sunday, July 10th. Eleven research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $104.34.
Shares of Gilead Sciences (NASDAQ:GILD) opened at 78.97 on Tuesday. The company has a market capitalization of $104.21 billion, a price-to-earnings ratio of 6.93 and a beta of 1.06. The firm has a 50 day moving average price of $79.44 and a 200 day moving average price of $85.67. Gilead Sciences has a 52 week low of $76.67 and a 52 week high of $111.11.
Gilead Sciences (NASDAQ:GILD) last released its quarterly earnings results on Monday, July 25th. The biopharmaceutical company reported $3.08 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $3.02 by $0.06. The firm had revenue of $7.78 billion for the quarter, compared to the consensus estimate of $7.80 billion. Gilead Sciences had a return on equity of 106.75% and a net margin of 50.50%. The company’s revenue for the quarter was down 5.7% on a year-over-year basis. During the same period last year, the business posted $3.15 EPS. Equities analysts forecast that Gilead Sciences will post $11.76 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 29th. Investors of record on Friday, September 16th will be paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 2.38%. The ex-dividend date is Wednesday, September 14th. Gilead Sciences’s dividend payout ratio (DPR) is 16.56%.
In related news, CEO John F. Milligan sold 112,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 5th. The shares were sold at an average price of $84.33, for a total value of $9,444,960.00. Following the completion of the transaction, the chief executive officer now owns 1,170,963 shares of the company’s stock, valued at $98,747,309.79. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman John C. Martin sold 100,000 shares of the business’s stock in a transaction that occurred on Friday, July 1st. The stock was sold at an average price of $84.73, for a total transaction of $8,473,000.00. Following the completion of the transaction, the chairman now directly owns 4,119,727 shares of the company’s stock, valued at approximately $349,064,468.71. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by corporate insiders.
Institutional investors have recently modified their holdings of the company. Adage Capital Partners GP L.L.C. increased its position in shares of Gilead Sciences by 17.5% in the first quarter. Adage Capital Partners GP L.L.C. now owns 1,739,537 shares of the biopharmaceutical company’s stock worth $159,794,000 after buying an additional 258,807 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Gilead Sciences by 1.3% in the first quarter. Geode Capital Management LLC now owns 12,410,846 shares of the biopharmaceutical company’s stock worth $1,137,969,000 after buying an additional 161,505 shares during the last quarter. Temasek Holdings Private Ltd increased its position in shares of Gilead Sciences by 8.1% in the first quarter. Temasek Holdings Private Ltd now owns 13,830,516 shares of the biopharmaceutical company’s stock worth $1,270,471,000 after buying an additional 1,035,592 shares during the last quarter. Omega Advisors Inc. acquired a new position in shares of Gilead Sciences during the first quarter worth about $47,491,000. Finally, Riverhead Capital Management LLC increased its position in shares of Gilead Sciences by 84.2% in the first quarter. Riverhead Capital Management LLC now owns 756,049 shares of the biopharmaceutical company’s stock worth $69,450,000 after buying an additional 345,518 shares during the last quarter. 77.94% of the stock is owned by institutional investors.
Gilead Sciences Company Profile
Gilead Sciences, Inc is a research-based biopharmaceutical company. The Company focuses on the discovery, development and commercialization of medicines in areas of unmet medical need. The Company’s principal areas of focus include human immunodeficiency virus (HIV), liver diseases, such as chronic hepatitis C virus infection and chronic hepatitis B virus infection, cardiovascular, hematology/oncology and inflammation/respiratory.
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