Gilead Sciences (NASDAQ:GILD) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released 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.”

A number of other equities analysts also recently weighed in on the stock. Berenberg Bank set a $96.00 target price on shares of Gilead Sciences and gave the stock a “buy” rating in a research note on Thursday, October 19th. JPMorgan Chase & Co. set a $85.00 target price on shares of Gilead Sciences and gave the stock a “buy” rating in a research note on Wednesday, October 25th. Credit Suisse Group reissued a “buy” rating and set a $82.00 target price on shares of Gilead Sciences in a research note on Thursday, December 7th. Vetr raised shares of Gilead Sciences from a “buy” rating to a “strong-buy” rating and set a $91.98 target price for the company in a research note on Friday, October 13th. Finally, Argus downgraded shares of Gilead Sciences from a “buy” rating to a “hold” rating and lifted their target price for the stock from $73.25 to $73.77 in a research note on Monday, November 13th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and eighteen have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $85.53.

Gilead Sciences (NASDAQ:GILD) opened at $81.28 on Thursday. The stock has a market cap of $106,370.00, a price-to-earnings ratio of 9.25, a PEG ratio of -1.71 and a beta of 1.13. Gilead Sciences has a 52 week low of $63.76 and a 52 week high of $86.27. The company has a debt-to-equity ratio of 1.10, a quick ratio of 3.56 and a current ratio of 3.68.

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

In other Gilead Sciences news, EVP Gregg H. Alton sold 15,000 shares of Gilead Sciences stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $74.82, for a total value 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 transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider John F. Milligan sold 220,000 shares of Gilead Sciences stock in a transaction on Monday, November 13th. The shares were sold at an average price of $72.88, for a total transaction of $16,033,600.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 491,666 shares of company stock valued at $36,442,567. Insiders own 1.30% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Capital Investment Advisors LLC grew its holdings in shares of Gilead Sciences by 24.6% during the second quarter. Capital Investment Advisors LLC now owns 31,212 shares of the biopharmaceutical company’s stock valued at $2,209,000 after buying an additional 6,158 shares during the last quarter. Fulton Bank N.A. grew its holdings in shares of Gilead Sciences by 10.0% during the second quarter. Fulton Bank N.A. now owns 47,766 shares of the biopharmaceutical company’s stock valued at $3,381,000 after buying an additional 4,337 shares during the last quarter. Tompkins Financial Corp grew its holdings in shares of Gilead Sciences by 4.6% during the second quarter. Tompkins Financial Corp now owns 11,227 shares of the biopharmaceutical company’s stock valued at $795,000 after buying an additional 492 shares during the last quarter. Banced Corp grew its holdings in shares of Gilead Sciences by 10.2% during the second quarter. Banced Corp now owns 9,691 shares of the biopharmaceutical company’s stock valued at $686,000 after buying an additional 899 shares during the last quarter. Finally, Gateway Investment Advisers LLC grew its holdings in shares of Gilead Sciences by 9.1% during the second quarter. Gateway Investment Advisers LLC now owns 826,704 shares of the biopharmaceutical company’s stock valued at $58,514,000 after buying an additional 68,668 shares during the last quarter. Hedge funds and other institutional investors own 75.95% 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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