Zacks Investment Research cut shares of Gilead Sciences (NASDAQ:GILD) from a hold rating to a sell rating in a report issued 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 analysts also recently issued reports on GILD. Leerink Swann reissued a market perform rating and set a $87.00 price target (up from $82.00) on shares of Gilead Sciences in a report on Wednesday, September 20th. Mizuho reaffirmed a buy rating on shares of Gilead Sciences in a report on Friday, September 29th. Jefferies Group reaffirmed a hold rating and set a $93.00 price objective on shares of Gilead Sciences in a report on Wednesday, October 4th. Bank of America decreased their price objective on shares of Gilead Sciences from $87.00 to $86.00 and set a neutral rating on the stock in a report on Wednesday, October 4th. Finally, Oppenheimer began coverage on shares of Gilead Sciences in a report on Thursday, October 5th. They set a market perform rating on the stock. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eighteen have issued a buy rating to the company’s stock. The stock has a consensus rating of Buy and an average target price of $85.53.
Shares of Gilead Sciences (NASDAQ:GILD) traded down $0.19 during midday trading on Thursday, reaching $80.98. 6,794,345 shares of the company were exchanged, compared to its average volume of 8,110,000. Gilead Sciences has a 12-month low of $63.76 and a 12-month high of $86.27. The stock has a market capitalization of $105,750.00, a P/E ratio of 9.21, a PEG ratio of -1.76 and a beta of 1.13. The company has a debt-to-equity ratio of 1.10, a current ratio of 3.68 and a quick ratio of 3.56.
Gilead Sciences (NASDAQ:GILD) last announced its quarterly earnings results on Thursday, October 26th. The biopharmaceutical company reported $2.27 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.13 by $0.14. Gilead Sciences had a net margin of 42.22% and a return on equity of 57.15%. The firm had revenue of $6.51 billion for the quarter, compared to the consensus estimate of $6.40 billion. During the same period in the prior year, the firm posted $2.75 earnings per share. The firm’s quarterly revenue was down 13.2% compared to the same quarter last year. equities analysts predict that Gilead Sciences will post 8.53 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 28th. Investors of record on Friday, December 15th were given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 2.57%. The ex-dividend date of this dividend was Thursday, December 14th. Gilead Sciences’s payout ratio is currently 23.66%.
In other Gilead Sciences news, EVP Gregg H. Alton sold 15,000 shares of Gilead Sciences stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $74.82, for a total transaction of $1,122,300.00. Following the completion of the sale, the executive vice president now directly owns 77,363 shares in the company, valued at $5,788,299.66. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider John F. Milligan sold 220,000 shares of Gilead Sciences stock in a transaction dated 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 90 days, insiders have sold 591,666 shares of company stock valued at $44,466,567. 1.30% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently made changes to their positions in GILD. Keel Point LLC lifted its stake in Gilead Sciences by 0.4% in the second quarter. Keel Point LLC now owns 3,123 shares of the biopharmaceutical company’s stock worth $221,000 after acquiring an additional 12 shares during the last quarter. Paradigm Financial Advisors LLC lifted its stake in Gilead Sciences by 0.3% in the second quarter. Paradigm Financial Advisors LLC now owns 8,723 shares of the biopharmaceutical company’s stock worth $617,000 after acquiring an additional 26 shares during the last quarter. Princeton Portfolio Strategies Group LLC lifted its stake in Gilead Sciences by 0.4% in the second quarter. Princeton Portfolio Strategies Group LLC now owns 9,766 shares of the biopharmaceutical company’s stock worth $691,000 after acquiring an additional 41 shares during the last quarter. Arrow Financial Corp lifted its stake in Gilead Sciences by 0.3% in the second quarter. Arrow Financial Corp now owns 17,771 shares of the biopharmaceutical company’s stock worth $1,258,000 after acquiring an additional 45 shares during the last quarter. Finally, Auxier Asset Management lifted its stake in Gilead Sciences by 1.4% in the second quarter. Auxier Asset Management now owns 6,773 shares of the biopharmaceutical company’s stock worth $479,000 after acquiring an additional 96 shares during the last quarter. Institutional investors and hedge funds 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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