Gilead Sciences (NASDAQ:GILD) had its price target increased by Cantor Fitzgerald from $87.00 to $88.00 in a research report released on Friday morning. The firm currently has an overweight rating on the biopharmaceutical company’s stock.
“: We are increasing our price target to $88 from $87 and reiterating our Overweight rating. Gilead beat top and bottom line consensus expectations as the Biktarvy launch remains strong in HIV. Our price target is higher by $1/share given revenue trends were slightly more robust than we projected. The company also increased its product revenue guidance to $20.8-21.3B from $20-21B. Product revenues were $5.45B and EPS were $1.84/share. Biktarvy beat expectations by ~$50M, as it reported revenues of $375M. GILD has also benefited from a generic Letairis not entering the market, and it doesn’t expect an entrant in 2018. We have updated our estimates for the quarter.”,” Cantor Fitzgerald’s analyst commented.
A number of other equities research analysts have also recently issued reports on GILD. ValuEngine upgraded Gilead Sciences from a sell rating to a hold rating in a research note on Tuesday, July 3rd. Mizuho set a $94.00 price objective on Gilead Sciences and gave the stock a buy rating in a research note on Tuesday, July 31st. BidaskClub upgraded Gilead Sciences from a sell rating to a hold rating in a research note on Tuesday, July 10th. Robert W. Baird cut Gilead Sciences from an outperform rating to a neutral rating and set a $79.00 price target on the stock. in a research note on Thursday, July 26th. Finally, Zacks Investment Research upgraded Gilead Sciences from a hold rating to a buy rating and set a $86.00 price target on the stock in a research note on Wednesday, July 18th. Thirteen investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. The stock presently has an average rating of Buy and an average price target of $87.84.
Gilead Sciences (NASDAQ:GILD) last announced its quarterly earnings data on Thursday, October 25th. The biopharmaceutical company reported $1.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.63 by $0.21. Gilead Sciences had a return on equity of 39.32% and a net margin of 7.12%. The company had revenue of $5.60 billion for the quarter, compared to analysts’ expectations of $5.44 billion. During the same quarter in the prior year, the business posted $2.27 EPS. As a group, equities analysts expect that Gilead Sciences will post 6.6 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 28th. Investors of record on Friday, December 14th will be paid a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 3.27%. The ex-dividend date of this dividend is Thursday, December 13th. Gilead Sciences’s dividend payout ratio (DPR) is presently 26.64%.
In other Gilead Sciences news, Director John C. Martin sold 50,000 shares of the company’s stock in a transaction on Tuesday, September 4th. The stock was sold at an average price of $74.16, for a total value of $3,708,000.00. Following the transaction, the director now directly owns 3,067,762 shares of the company’s stock, valued at approximately $227,505,229.92. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last ninety days, insiders sold 150,000 shares of company stock worth $11,502,500. Insiders own 1.16% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the business. Reilly Financial Advisors LLC grew its holdings in Gilead Sciences by 98.3% in the 3rd quarter. Reilly Financial Advisors LLC now owns 1,420 shares of the biopharmaceutical company’s stock valued at $110,000 after buying an additional 704 shares in the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors acquired a new position in Gilead Sciences in the 2nd quarter valued at $132,000. Brand Asset Management Group Inc. acquired a new position in Gilead Sciences in the 2nd quarter valued at $139,000. TRUE Private Wealth Advisors acquired a new position in Gilead Sciences in the 3rd quarter valued at $174,000. Finally, Truvestments Capital LLC acquired a new position in Gilead Sciences in the 3rd quarter valued at $210,000. 78.23% of the stock is currently owned by hedge funds and other institutional investors.
Gilead Sciences Company Profile
Gilead Sciences, Inc, a biopharmaceutical company, discovers, develops, and commercializes therapeutics in the areas of unmet medical needs in the United States, Europe, and internationally. The company's products include Biktarvy, Descovy, Odefsey, Genvoya, Stribild, Complera/Eviplera, Atripla, Truvada, Viread, Emtriva, and Tybost for the treatment of human immunodeficiency virus (HIV) infection in adults; and Vosevi, Vemlidy, Epclusa, Harvoni, Sovaldi, Viread, and Hepsera products for treating liver diseases.
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