BMO Capital Markets Reiterates “Hold” Rating for Gilead Sciences (GILD)
Gilead Sciences (NASDAQ:GILD)‘s stock had its “hold” rating reaffirmed by BMO Capital Markets in a report released on Wednesday.
The analysts wrote, “Early biopotency signals from a single patient dosed with ABO-101 (for Sanfilippo B), demonstrate targeted reduction on toxic sugars.””
Several other research firms have also recently issued reports on GILD. JPMorgan Chase & Co. set a $85.00 target price on Gilead Sciences and gave the stock a “buy” rating in a research note on Wednesday, October 25th. Citigroup raised Gilead Sciences from a “neutral” rating to a “buy” rating and cut their target price for the stock from $88.80 to $76.00 in a research note on Tuesday, January 30th. Vetr cut Gilead Sciences from a “strong-buy” rating to a “buy” rating and set a $90.00 target price on the stock. in a research note on Wednesday, January 17th. Zacks Investment Research cut Gilead Sciences from a “hold” rating to a “sell” rating in a research note on Wednesday, October 18th. Finally, William Blair reissued a “buy” rating on shares of Gilead Sciences in a research note on Thursday, October 19th. One analyst has rated the stock with a sell rating, twelve have issued 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 a consensus price target of $86.56.
Gilead Sciences (NASDAQ:GILD) last posted its earnings results on Tuesday, February 6th. The biopharmaceutical company reported $1.78 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.67 by $0.11. The company had revenue of $5.95 billion for the quarter, compared to analysts’ expectations of $5.71 billion. Gilead Sciences had a return on equity of 48.88% and a net margin of 17.73%. Gilead Sciences’s quarterly revenue was down 18.7% on a year-over-year basis. During the same period last year, the firm earned $2.70 earnings per share. analysts predict that Gilead Sciences will post 6.47 EPS for the current fiscal year.
In other news, Chairman John C. Martin sold 50,000 shares of Gilead Sciences stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $83.56, for a total transaction of $4,178,000.00. Following the completion of the transaction, the chairman now directly owns 3,046,766 shares in the company, valued at $254,587,766.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Gregg H. Alton sold 15,000 shares of Gilead Sciences stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $74.64, for a total transaction of $1,119,600.00. Following the transaction, the executive vice president now owns 70,988 shares of the company’s stock, valued at $5,298,544.32. The disclosure for this sale can be found here. Insiders have sold 578,333 shares of company stock valued at $44,100,508 over the last quarter. Company insiders own 1.30% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. Welch Investments LLC purchased a new position in Gilead Sciences in the 3rd quarter worth approximately $108,000. Wealthcare Advisory Partners LLC purchased a new position in Gilead Sciences in the 3rd quarter worth approximately $133,000. Horan Capital Advisors LLC. purchased a new position in Gilead Sciences in the 3rd quarter worth approximately $144,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Gilead Sciences in the 2nd quarter worth approximately $147,000. Finally, Hanson & Doremus Investment Management raised its holdings in Gilead Sciences by 806.5% in the 3rd quarter. Hanson & Doremus Investment Management now owns 1,813 shares of the biopharmaceutical company’s stock worth $147,000 after acquiring an additional 1,613 shares during the last quarter. Hedge funds and other institutional investors own 75.84% of the company’s stock.
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Gilead Sciences Company Profile
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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