Cowen and Company Reiterates Outperform Rating for Gilead Sciences Inc. (GILD)
Gilead Sciences Inc. (NASDAQ:GILD)‘s stock had its “outperform” rating reiterated by equities researchers at Cowen and Company in a report released on Monday. They presently have a $120.00 price target on the biopharmaceutical company’s stock. Cowen and Company’s price objective would indicate a potential upside of 63.47% from the company’s previous close.
GILD has been the subject of several other reports. Royal Bank Of Canada lifted their target price on Gilead Sciences from $95.00 to $105.00 and gave the company an “outperform” rating in a research report on Monday, October 3rd. Jefferies Group dropped their target price on Gilead Sciences from $93.00 to $91.00 and set a “hold” rating for the company in a research report on Wednesday, August 31st. Zacks Investment Research raised Gilead Sciences from a “sell” rating to a “hold” rating in a research report on Monday, September 26th. Piper Jaffray Cos. reaffirmed an “overweight” rating and issued a $108.00 target price on shares of Gilead Sciences in a research report on Wednesday, August 31st. Finally, Leerink Swann set a $112.00 target price on Gilead Sciences and gave the company a “buy” rating in a research report on Thursday, September 22nd. Ten investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. Gilead Sciences currently has an average rating of “Buy” and a consensus target price of $102.78.
Shares of Gilead Sciences (NASDAQ:GILD) opened at 73.41 on Monday. Gilead Sciences has a 52-week low of $72.21 and a 52-week high of $111.11. The firm’s 50 day moving average is $77.59 and its 200 day moving average is $84.05. The stock has a market capitalization of $96.88 billion, a price-to-earnings ratio of 6.44 and a beta of 1.10.
Gilead Sciences (NASDAQ:GILD) last issued its quarterly earnings data on Monday, July 25th. The biopharmaceutical company reported $3.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.02 by $0.06. The firm had revenue of $7.78 billion for the quarter, compared to analyst estimates of $7.80 billion. Gilead Sciences had a net margin of 50.50% and a return on equity of 106.75%. Gilead Sciences’s revenue was down 5.7% on a year-over-year basis. During the same period in the previous year, the firm earned $3.15 EPS. Equities analysts expect that Gilead Sciences will post $11.76 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 29th. Shareholders of record on Friday, September 16th were issued a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 2.56%. The ex-dividend date was Wednesday, September 14th. Gilead Sciences’s dividend payout ratio (DPR) is 16.56%.
In other Gilead Sciences news, insider John C. Martin sold 100,000 shares of the company’s stock in a transaction on Monday, October 3rd. The stock was sold at an average price of $77.63, for a total value of $7,763,000.00. Following the sale, the insider now owns 3,231,096 shares of the company’s stock, valued at $250,829,982.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kevin E. Lofton sold 3,500 shares of the company’s stock in a transaction on Wednesday, August 24th. The shares were sold at an average price of $81.97, for a total value of $286,895.00. The disclosure for this sale can be found here. 1.40% of the stock is owned by company insiders.
A number of hedge funds have recently bought and sold shares of GILD. Bank of Montreal Can bought a new stake in Gilead Sciences during the second quarter worth approximately $427,750,000. Capital World Investors raised its stake in Gilead Sciences by 28.3% in the second quarter. Capital World Investors now owns 15,318,948 shares of the biopharmaceutical company’s stock worth $1,277,907,000 after buying an additional 3,380,000 shares during the last quarter. Investec Asset Management LTD bought a new stake in Gilead Sciences during the first quarter worth approximately $280,342,000. Parnassus Investments CA raised its stake in Gilead Sciences by 45.4% in the second quarter. Parnassus Investments CA now owns 8,460,484 shares of the biopharmaceutical company’s stock worth $705,774,000 after buying an additional 2,640,284 shares during the last quarter. Finally, NN Investment Partners Holdings N.V. bought a new stake in Gilead Sciences during the first quarter worth approximately $180,268,000. 78.00% of the stock is currently owned by institutional investors.
Gilead Sciences Company Profile
Gilead Sciences, Inc is a research-based biopharmaceutical company. The Company focuses on the discovery, development and commercialization of medicines in areas of unmet medical need. The Company’s principal areas of focus include human immunodeficiency virus (HIV), liver diseases, such as chronic hepatitis C virus infection and chronic hepatitis B virus infection, cardiovascular, hematology/oncology and inflammation/respiratory.
Receive News & Ratings for Gilead Sciences Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gilead Sciences Inc. and related companies with MarketBeat.com's FREE daily email newsletter.