Short Interest in Gilead Sciences, Inc. (GILD) Expands By 13.8%
Gilead Sciences, Inc. (NASDAQ:GILD) was the recipient of a large increase in short interest during the month of October. As of October 15th, there was short interest totalling 15,046,053 shares, an increase of 13.8% from the September 28th total of 13,219,532 shares. Currently, 1.2% of the shares of the company are sold short. Based on an average daily trading volume, of 6,495,748 shares, the days-to-cover ratio is currently 2.3 days.
Shares of GILD stock opened at $69.74 on Monday. The company has a quick ratio of 2.92, a current ratio of 3.00 and a debt-to-equity ratio of 1.23. Gilead Sciences has a 1 year low of $64.27 and a 1 year high of $89.54. The firm has a market cap of $90.41 billion, a price-to-earnings ratio of 8.15, a price-to-earnings-growth ratio of -3.52 and a beta of 1.01.
Gilead Sciences (NASDAQ:GILD) last announced its quarterly earnings results on Thursday, October 25th. The biopharmaceutical company reported $1.84 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.63 by $0.21. Gilead Sciences had a return on equity of 40.28% and a net margin of 7.12%. The company had revenue of $5.60 billion during the quarter, compared to analyst estimates of $5.44 billion. During the same quarter in the previous year, the firm posted $2.27 EPS. Equities analysts expect that Gilead Sciences will post 6.6 EPS for the current year.
In related news, Director John C. Martin sold 50,000 shares of the company’s stock in a transaction on Tuesday, September 4th. The stock was sold at an average price of $74.16, for a total transaction of $3,708,000.00. Following the completion of the transaction, the director now directly owns 3,067,762 shares in the company, valued at approximately $227,505,229.92. The sale was disclosed in a document filed with the SEC, which is available through this link. Over the last 90 days, insiders have sold 150,000 shares of company stock valued at $11,502,500. 1.30% of the stock is owned by company insiders.
Hedge funds have recently made changes to their positions in the business. WINTON GROUP Ltd lifted its holdings in shares of Gilead Sciences by 16.4% in the first quarter. WINTON GROUP Ltd now owns 7,674 shares of the biopharmaceutical company’s stock valued at $579,000 after buying an additional 1,079 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of Gilead Sciences by 5.3% in the first quarter. Principal Financial Group Inc. now owns 2,945,595 shares of the biopharmaceutical company’s stock valued at $222,068,000 after buying an additional 148,398 shares during the period. Summit Trail Advisors LLC lifted its holdings in shares of Gilead Sciences by 40.9% in the first quarter. Summit Trail Advisors LLC now owns 7,808 shares of the biopharmaceutical company’s stock valued at $348,000 after buying an additional 2,265 shares during the period. Mount Yale Investment Advisors LLC acquired a new stake in shares of Gilead Sciences in the first quarter valued at $355,000. Finally, Brown Advisory Inc. lifted its holdings in shares of Gilead Sciences by 15.3% in the first quarter. Brown Advisory Inc. now owns 60,197 shares of the biopharmaceutical company’s stock valued at $4,538,000 after buying an additional 8,006 shares during the period. Institutional investors own 78.22% of the company’s stock.
A number of research analysts recently commented on GILD shares. ValuEngine upgraded Gilead Sciences from a “sell” rating to a “hold” rating in a research note on Tuesday, July 3rd. BidaskClub upgraded Gilead Sciences from a “sell” rating to a “hold” rating in a research note on Tuesday, July 10th. Zacks Investment Research upgraded Gilead Sciences from a “hold” rating to a “buy” rating and set a $86.00 price objective for the company in a research note on Wednesday, July 18th. Robert W. Baird downgraded Gilead Sciences from an “outperform” rating to a “neutral” rating and set a $79.00 price objective for the company. in a research note on Thursday, July 26th. Finally, Wells Fargo & Co upped their price objective on Gilead Sciences from $89.00 to $95.00 and gave the stock an “outperform” rating in a research note on Thursday, July 26th. Thirteen investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $87.84.
About Gilead Sciences
Gilead Sciences, Inc, a biopharmaceutical company, discovers, develops, and commercializes therapeutics 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, Truvada, Viread, Emtriva, and Tybost for the treatment of human immunodeficiency virus (HIV) infection in adults; and Vosevi, Vemlidy, Epclusa, Harvoni, Sovaldi, Viread, and Hepsera products for treating liver diseases.
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