Gilead Sciences, Inc. (GILD) Rating Lowered to Sell at Zacks Investment Research
Gilead Sciences, Inc. (NASDAQ:GILD) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Wednesday.
According to Zacks, “Gilead is known for its presence in the HCV market because of its blockbuster HCV drugs, Sovaldi and Harvoni. However, the HCV franchise continued to witness slowdown as a result of competitive and pricing pressure. Higher discounts and payer mix continue to hurt sales. The company expects that the persistent decline in HCV patient starts will impact sales along with increased competition which will impact both patient share and pricing. While the HIV franchise maintains momentum driven by the rapid adoption of TAF-based regimens, Gilead will lose exclusivity for Viread in 2017 in some countries which should impact sales. TOn a positive note, Gilead recently acquired Kite Pharma to foray into the CAR T therapy space which represents immense potential at this juncture . Shares of the company have outperformed the industry so far in 2017.”
A number of other equities analysts have also commented on GILD. Needham & Company LLC reiterated a “hold” rating on shares of Gilead Sciences in a report on Monday, August 28th. Vetr upgraded shares of Gilead Sciences from a “hold” rating to a “buy” rating and set a $89.27 price objective on the stock in a report on Wednesday, September 6th. Morgan Stanley reiterated an “equal weight” rating and issued a $83.00 price objective (up previously from $77.00) on shares of Gilead Sciences in a report on Friday, October 6th. Maxim Group reiterated a “hold” rating on shares of Gilead Sciences in a report on Thursday, July 27th. Finally, ValuEngine lowered shares of Gilead Sciences from a “strong-buy” rating to a “buy” rating in a report on Wednesday, September 13th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $85.80.
Gilead Sciences (GILD) traded down 0.193% on Wednesday, reaching $80.085. The company had a trading volume of 1,678,077 shares. The stock has a 50 day moving average price of $82.48 and a 200 day moving average price of $72.25. Gilead Sciences has a 52-week low of $63.76 and a 52-week high of $86.27. The stock has a market capitalization of $104.59 billion, a PE ratio of 8.698 and a beta of 1.14.
Gilead Sciences (NASDAQ:GILD) last announced its quarterly earnings data on Wednesday, July 26th. The biopharmaceutical company reported $2.56 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.11 by $0.45. The company had revenue of $7.14 billion during the quarter, compared to analysts’ expectations of $6.35 billion. Gilead Sciences had a net margin of 42.90% and a return on equity of 66.07%. The business’s quarterly revenue was down 8.2% compared to the same quarter last year. During the same period in the previous year, the company earned $3.08 EPS. Analysts expect that Gilead Sciences will post $8.73 EPS for the current year.
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In other Gilead Sciences news, EVP Gregg H. Alton sold 40,000 shares of the company’s stock in a transaction that occurred on Friday, July 21st. The shares were sold at an average price of $74.00, for a total value of $2,960,000.00. Following the transaction, the executive vice president now owns 137,488 shares in the company, valued at approximately $10,174,112. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider John C. Martin sold 73,333 shares of the company’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $75.86, for a total transaction of $5,563,041.38. Following the completion of the transaction, the insider now owns 3,199,969 shares in the company, valued at approximately $242,749,648.34. The disclosure for this sale can be found here. In the last 90 days, insiders sold 486,819 shares of company stock valued at $39,298,919. 1.30% of the stock is owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in the business. Harel Insurance Investments & Financial Services Ltd. increased its stake in shares of Gilead Sciences by 583.3% during the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,640 shares of the biopharmaceutical company’s stock worth $110,000 after purchasing an additional 1,400 shares during the last quarter. Penserra Capital Management LLC boosted its holdings in shares of Gilead Sciences by 9.5% during the 1st quarter. Penserra Capital Management LLC now owns 1,656 shares of the biopharmaceutical company’s stock worth $112,000 after buying an additional 144 shares during the period. Webster Bank N. A. boosted its holdings in shares of Gilead Sciences by 51.7% during the 1st quarter. Webster Bank N. A. now owns 1,831 shares of the biopharmaceutical company’s stock worth $125,000 after buying an additional 624 shares during the period. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Gilead Sciences during the 2nd quarter worth $147,000. Finally, American Beacon Advisors Inc. bought a new stake in shares of Gilead Sciences during the 1st quarter worth $143,000. Hedge funds and other institutional investors own 73.97% of the company’s stock.
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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