Gilead Sciences (NASDAQ:GILD) PT Lowered to $76.00

Gilead Sciences (NASDAQ:GILD) had its price objective dropped by research analysts at Wells Fargo & Co from $87.00 to $76.00 in a research note issued on Friday, The Fly reports. The brokerage currently has an “equal weight” rating on the biopharmaceutical company’s stock. Wells Fargo & Co‘s price target suggests a potential upside of 9.31% from the stock’s previous close.

A number of other research firms have also issued reports on GILD. UBS Group lowered shares of Gilead Sciences from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $77.00 to $80.00 in a research note on Monday, April 27th. Mizuho reiterated a “buy” rating and set a $81.00 price objective on shares of Gilead Sciences in a research note on Wednesday, May 13th. SunTrust Banks upgraded shares of Gilead Sciences from a “sell” rating to a “hold” rating and lifted their price objective for the company from $70.00 to $73.00 in a research note on Tuesday, May 26th. JPMorgan Chase & Co. reissued a “hold” rating and set a $85.00 price target on shares of Gilead Sciences in a research report on Tuesday, July 28th. Finally, Morgan Stanley raised their price target on shares of Gilead Sciences from $77.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 15th. Four analysts have rated the stock with a sell rating, sixteen have given a hold rating and nine have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $79.63.

NASDAQ GILD traded down $2.80 during mid-day trading on Friday, hitting $69.53. The company’s stock had a trading volume of 20,558,846 shares, compared to its average volume of 6,482,609. Gilead Sciences has a 52-week low of $60.89 and a 52-week high of $85.97. The stock’s fifty day simple moving average is $75.47 and its two-hundred day simple moving average is $73.57. The company has a debt-to-equity ratio of 1.00, a current ratio of 3.04 and a quick ratio of 2.92. The firm has a market capitalization of $87.22 billion, a P/E ratio of -289.70, a price-to-earnings-growth ratio of 2.34 and a beta of 0.70.

Gilead Sciences (NASDAQ:GILD) last posted its quarterly earnings data on Thursday, July 30th. The biopharmaceutical company reported $1.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.46). The firm had revenue of $5.14 billion for the quarter, compared to analysts’ expectations of $5.24 billion. Gilead Sciences had a negative net margin of 1.16% and a positive return on equity of 32.17%. On average, equities analysts forecast that Gilead Sciences will post 6.79 earnings per share for the current fiscal year.

In other Gilead Sciences news, EVP Brett A. Pletcher sold 13,210 shares of the firm’s stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $79.23, for a total value of $1,046,628.30. Following the sale, the executive vice president now directly owns 27,204 shares in the company, valued at $2,155,372.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Diane E. Wilfong sold 12,264 shares of the firm’s stock in a transaction on Monday, May 4th. The shares were sold at an average price of $80.09, for a total value of $982,223.76. Following the completion of the sale, the chief accounting officer now owns 23,685 shares in the company, valued at $1,896,931.65. The disclosure for this sale can be found here. Insiders sold 28,079 shares of company stock worth $2,240,630 over the last quarter. 0.13% of the stock is currently owned by company insiders.

A number of hedge funds have recently bought and sold shares of GILD. Guggenheim Capital LLC raised its stake in shares of Gilead Sciences by 9.3% during the fourth quarter. Guggenheim Capital LLC now owns 917,971 shares of the biopharmaceutical company’s stock valued at $59,650,000 after purchasing an additional 78,152 shares in the last quarter. Macquarie Group Ltd. raised its position in Gilead Sciences by 1.5% in the fourth quarter. Macquarie Group Ltd. now owns 399,336 shares of the biopharmaceutical company’s stock worth $25,948,000 after acquiring an additional 5,806 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in Gilead Sciences by 3.1% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 58,757 shares of the biopharmaceutical company’s stock worth $3,818,000 after acquiring an additional 1,750 shares in the last quarter. Stillwater Investment Management LLC raised its position in Gilead Sciences by 1.4% in the first quarter. Stillwater Investment Management LLC now owns 39,686 shares of the biopharmaceutical company’s stock worth $2,967,000 after acquiring an additional 537 shares in the last quarter. Finally, IMS Capital Management raised its position in Gilead Sciences by 53.2% in the first quarter. IMS Capital Management now owns 11,473 shares of the biopharmaceutical company’s stock worth $858,000 after acquiring an additional 3,982 shares in the last quarter. Institutional investors own 78.74% of the company’s stock.

About Gilead Sciences

Gilead Sciences, Inc, a research-based biopharmaceutical company, discovers, develops, and commercializes medicines 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, and Truvada for the treatment of human immunodeficiency virus (HIV) infection in adults; and Vosevi, Vemlidy, Epclusa, Harvoni, and Viread products for treating liver diseases.

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