Zacks Investment Research lowered shares of Gilead Sciences (NASDAQ:GILD) from a hold rating to a sell rating in a research report sent to investors on Thursday.

According to Zacks, “Gilead’s HCV franchise is under tremendous pressure due to lower patient starts and increasing competition. Higher discounts and payer mix continue to hurt sales. Sales are expected to decline further. Moreover, Gilead has lost exclusivity for Viread and Truvada. Meanwhile, the HIV franchise maintains momentum driven by the rapid adoption of TAF-based regimens in the United States and EU. The TAF-based regimens now represent 56% of total Gilead HIV prescription volume following the launch of Genvoya and the launches of Odefsey and Descovy in 2016. However, Gilead also faces competition from generic HIV products which should impact sales. Nevertheless, the acquisition of Kite and the subsequent approval of Yescarta bodes well for Gilead given the potential in the CAR T therapy. Shares of the company have outperformed the industry in the last six months.”

Several other analysts have also weighed in on the stock. Vetr lowered shares of Gilead Sciences from a strong-buy rating to a buy rating and set a $90.00 target price for the company. in a research note on Wednesday, January 17th. BidaskClub upgraded shares of Gilead Sciences from a sell rating to a hold rating in a research note on Tuesday, January 16th. Wells Fargo & Co upgraded shares of Gilead Sciences from a market perform rating to an outperform rating and boosted their target price for the company from $79.02 to $96.00 in a research note on Tuesday, January 16th. Credit Suisse Group set a $80.00 target price on shares of Gilead Sciences and gave the company a hold rating in a research note on Wednesday, January 3rd. Finally, BMO Capital Markets reiterated a hold rating on shares of Gilead Sciences in a research note on Wednesday, January 3rd. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eighteen have assigned a buy rating to the stock. The company currently has a consensus rating of Buy and an average price target of $85.53.

Gilead Sciences (GILD) traded down $0.19 during mid-day trading on Thursday, reaching $80.98. 7,920,800 shares of the company’s stock traded hands, compared to its average volume of 8,611,815. The company has a current ratio of 3.68, a quick ratio of 3.56 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 company has a market capitalization of $106,220.00, a price-to-earnings ratio of 9.21, a price-to-earnings-growth ratio of -1.76 and a beta of 1.13.

Gilead Sciences (NASDAQ:GILD) last released its earnings results on Thursday, October 26th. The biopharmaceutical company reported $2.27 earnings per share for the quarter, beating the consensus estimate of $2.13 by $0.14. Gilead Sciences had a net margin of 42.22% and a return on equity of 57.15%. The firm had revenue of $6.51 billion during the quarter, compared to analyst estimates of $6.40 billion. During the same quarter in the previous year, the firm earned $2.75 earnings per share. The firm’s revenue for the quarter was down 13.2% compared to the same quarter last year. equities research analysts predict that Gilead Sciences will post 8.53 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 28th. Shareholders of record on Friday, December 15th were issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 2.57%. The ex-dividend date of this dividend was Thursday, December 14th. Gilead Sciences’s payout ratio is 23.66%.

In other Gilead Sciences news, insider John F. Milligan sold 220,000 shares of the company’s stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $72.88, for a total value of $16,033,600.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Gregg H. Alton sold 15,000 shares of the company’s stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $74.82, for a total transaction of $1,122,300.00. Following the completion of the sale, the executive vice president now directly owns 77,363 shares of the company’s stock, valued at $5,788,299.66. The disclosure for this sale can be found here. Insiders sold a total of 591,666 shares of company stock valued at $44,466,567 over the last three months. 1.30% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently modified their holdings of the business. Welch Investments LLC acquired a new stake in Gilead Sciences in the 3rd quarter valued at about $108,000. Wealthcare Advisory Partners LLC purchased a new stake in Gilead Sciences during the third quarter valued at about $133,000. Horan Capital Advisors LLC. purchased a new stake in Gilead Sciences during the third quarter valued at about $144,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Gilead Sciences during the second quarter valued at about $147,000. Finally, Hanson & Doremus Investment Management lifted its stake in Gilead Sciences by 806.5% during the third quarter. Hanson & Doremus Investment Management now owns 1,813 shares of the biopharmaceutical company’s stock valued at $147,000 after buying an additional 1,613 shares in the last quarter. 76.06% of the stock is owned by institutional investors.

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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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