Leerink Swann reaffirmed their market perform rating on shares of Gilead Sciences (NASDAQ:GILD) in a research report sent to investors on Thursday morning, Marketbeat.com reports. The firm currently has a $80.00 target price on the biopharmaceutical company’s stock, down from their prior target price of $83.00.
“RARE’s 4Q report this afternoon was relatively in line with expectations. Incremental clinical updates for burosumab in young children and in adults with osteomalacia (bone softening) in the report further support the drug’s utility in both populations. The year ahead is shaping up to be catalyst-rich for RARE, with data from two gene therapy programs, the Phase 3 of trihep in Glut1 DS, and a decision on trihep registration plans in FAOD expected over the coming months. Although we continue to expect a slow rollout of burosumab (PDUFA date 4/17/18) and Mepsevii, we see opportunity for further upside in shares over the course of 2018. Maintain OW.”,” Leerink Swann’s analyst wrote.
Other equities analysts also recently issued reports about the company. Vetr raised Gilead Sciences from a buy rating to a strong-buy rating and set a $91.25 price target for the company in a report on Monday, February 5th. Citigroup reaffirmed a buy rating and issued a $105.00 price target (up from $103.00) on shares of Gilead Sciences in a report on Thursday, February 8th. BMO Capital Markets upped their price target on Gilead Sciences from $86.00 to $88.00 and gave the company a market perform rating in a report on Thursday, February 8th. Maxim Group reaffirmed a hold rating on shares of Gilead Sciences in a report on Friday, October 27th. Finally, Mizuho upped their price target on Gilead Sciences from $77.00 to $83.00 and gave the company a buy rating in a report on Wednesday, November 8th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Gilead Sciences currently has a consensus rating of Buy and an average price target of $86.92.
Gilead Sciences (NASDAQ:GILD) last announced its quarterly earnings results on Tuesday, February 6th. The biopharmaceutical company reported $1.78 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.67 by $0.11. The firm had revenue of $5.95 billion during the quarter, compared to the consensus estimate of $5.71 billion. Gilead Sciences had a return on equity of 50.29% and a net margin of 17.73%. The firm’s quarterly revenue was down 18.7% compared to the same quarter last year. During the same period in the prior year, the company posted $2.70 earnings per share. sell-side analysts forecast that Gilead Sciences will post 6.24 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 29th. Stockholders of record on Friday, March 16th will be paid a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 2.87%. The ex-dividend date is Thursday, March 15th. This is a boost from Gilead Sciences’s previous quarterly dividend of $0.52. Gilead Sciences’s dividend payout ratio is 27.08%.
In other news, insider John C. Martin sold 73,333 shares of the company’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $74.98, for a total transaction of $5,498,508.34. Following the completion of the sale, the insider now owns 3,070,099 shares in the company, valued at $230,196,023.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Gregg H. Alton sold 15,000 shares of the company’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $74.64, for a total value of $1,119,600.00. Following the sale, the executive vice president now owns 70,988 shares of the company’s stock, valued at approximately $5,298,544.32. The disclosure for this sale can be found here. Insiders have sold 432,768 shares of company stock valued at $33,919,138 in the last 90 days. Company insiders own 1.30% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the company. Cambridge Investment Research Advisors Inc. raised its position in Gilead Sciences by 4.3% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 201,922 shares of the biopharmaceutical company’s stock worth $14,466,000 after acquiring an additional 8,351 shares in the last quarter. Certified Advisory Corp purchased a new position in Gilead Sciences in the fourth quarter worth $133,000. Xact Kapitalforvaltning AB raised its position in Gilead Sciences by 6.4% in the fourth quarter. Xact Kapitalforvaltning AB now owns 249,991 shares of the biopharmaceutical company’s stock worth $17,909,000 after acquiring an additional 15,072 shares in the last quarter. Dixon Hubard Feinour & Brown Inc. VA purchased a new position in Gilead Sciences in the fourth quarter worth $265,000. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in Gilead Sciences by 3.3% in the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 742,048 shares of the biopharmaceutical company’s stock worth $53,160,000 after acquiring an additional 23,719 shares in the last quarter. Institutional investors and hedge funds own 75.71% of the company’s stock.
About Gilead Sciences
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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