Gilead Sciences’ (GILD) “Buy” Rating Reaffirmed at RBC Capital Markets
RBC Capital Markets restated their buy rating on shares of Gilead Sciences Inc. (NASDAQ:GILD) in a research report sent to investors on Monday morning. The brokerage currently has a $95.00 target price on the biopharmaceutical company’s stock, down from their previous target price of $105.00.
“We should see BLA acceptance on CHS-1701 on or before October 9; we should see an AdComm in April 2017 and approval soon thereafter; launch timing depends on need for 180- day waiting period. While Sandoz has not disclosed the reason for its CRL, we believe the company could be set back 2-3 years.”,” RBC Capital Markets’ analyst wrote.
A number of other research firms have also weighed in on GILD. Credit Suisse Group AG reiterated a buy rating and issued a $120.00 price target on shares of Gilead Sciences in a research report on Wednesday, June 29th. Leerink Swann reiterated a buy rating and issued a $120.00 price target (down previously from $123.00) on shares of Gilead Sciences in a research report on Thursday, June 9th. Vetr lowered Gilead Sciences from a strong-buy rating to a buy rating and set a $95.02 price target for the company. in a research report on Wednesday, July 6th. Zacks Investment Research upgraded Gilead Sciences from a hold rating to a buy rating and set a $97.00 price target for the company in a research report on Monday, July 11th. Finally, Piper Jaffray Cos. reiterated a buy rating and issued a $108.00 price target on shares of Gilead Sciences in a research report on Monday, August 15th. Ten investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. The stock currently has an average rating of Buy and an average price target of $104.63.
Gilead Sciences (NASDAQ:GILD) traded down 0.49% during mid-day trading on Monday, reaching $77.65. 1,279,339 shares of the company were exchanged. The stock’s 50-day moving average is $79.35 and its 200-day moving average is $85.39. Gilead Sciences has a 12 month low of $76.67 and a 12 month high of $111.11. The company has a market cap of $102.47 billion, a P/E ratio of 6.81 and a beta of 1.10.
Gilead Sciences (NASDAQ:GILD) last released its earnings results on Monday, July 25th. The biopharmaceutical company reported $3.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.02 by $0.06. The firm had revenue of $7.78 billion for the quarter, compared to analyst estimates of $7.80 billion. Gilead Sciences had a return on equity of 106.75% and a net margin of 50.50%. Gilead Sciences’s revenue was down 5.7% compared to the same quarter last year. During the same period in the previous year, the company earned $3.15 earnings per share. Equities analysts expect that Gilead Sciences will post $11.76 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 29th. Investors of record on Friday, September 16th were given a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 2.41%. The ex-dividend date of this dividend was Wednesday, September 14th. Gilead Sciences’s payout ratio is 16.56%.
In other news, Director Kevin E. Lofton sold 3,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 24th. The stock was sold at an average price of $81.97, for a total value of $286,895.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Paul Rutherford Carter sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $79.81, for a total value of $159,620.00. Following the completion of the transaction, the executive vice president now owns 64,122 shares in the company, valued at approximately $5,117,576.82. The disclosure for this sale can be found here. 1.40% of the stock is owned by corporate insiders.
Several institutional investors have recently made changes to their positions in the company. Gibraltar Capital Management Inc. increased its position in shares of Gilead Sciences by 34.3% in the first quarter. Gibraltar Capital Management Inc. now owns 51,890 shares of the biopharmaceutical company’s stock worth $4,767,000 after buying an additional 13,267 shares during the last quarter. QUANTRES ASSET MANAGEMENT Ltd acquired a new position in shares of Gilead Sciences during the first quarter worth $1,038,000. V Wealth Management LLC acquired a new position in shares of Gilead Sciences during the first quarter worth $2,443,000. Rhenman & Partners Asset Management AB increased its position in shares of Gilead Sciences by 45.2% in the first quarter. Rhenman & Partners Asset Management AB now owns 180,000 shares of the biopharmaceutical company’s stock worth $16,535,000 after buying an additional 56,000 shares during the last quarter. Finally, Private Trust Co. NA increased its position in shares of Gilead Sciences by 0.6% in the first quarter. Private Trust Co. NA now owns 25,010 shares of the biopharmaceutical company’s stock worth $2,297,000 after buying an additional 147 shares during the last quarter. Hedge funds and other institutional investors own 77.94% of the company’s stock.
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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