Gilead Sciences, Inc. (GILD) Downgraded by Zacks Investment Research to “Sell”

Zacks Investment Research downgraded shares of Gilead Sciences, Inc. (NASDAQ:GILD) from a hold rating to a sell rating in a research report released on Wednesday morning.

According to Zacks, “Gilead is known for its presence in the HCV market because of its blockbuster HCV drugs, Sovaldi and Harvoni. However, the HCV franchise continued to witness slowdown as a result of competitive and pricing pressure. Higher discounts and payer mix continue to hurt sales. The company expects that the persistent decline in HCV patient starts will impact sales along with increased competition which will impact both patient share and pricing. While the HIV franchise maintains momentum driven by the rapid adoption of TAF-based regimens, Gilead will lose exclusivity for Viread in 2017 in some countries which should impact sales. TOn a positive note, Gilead recently acquired Kite Pharma to foray into the CAR T therapy space which represents immense potential at this juncture . Shares of the company have outperformed the industry so far in 2017.”

GILD has been the subject of several other reports. BidaskClub lowered Gilead Sciences from a buy rating to a hold rating in a research note on Wednesday, August 9th. Argus raised Gilead Sciences from a hold rating to a buy rating and set a $100.00 price objective for the company in a research note on Thursday, August 31st. Vetr lowered Gilead Sciences from a strong-buy rating to a buy rating and set a $82.15 price objective for the company. in a research note on Monday, August 28th. Cowen and Company reaffirmed an outperform rating and issued a $90.00 price objective on shares of Gilead Sciences in a research note on Wednesday, July 5th. Finally, Wells Fargo & Company raised their price objective on Gilead Sciences from $73.00 to $81.00 and gave the company a market perform rating in a research note on Wednesday, September 6th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus target price of $85.64.

Shares of Gilead Sciences (NASDAQ GILD) traded up 1.97% during mid-day trading on Wednesday, reaching $81.59. The company’s stock had a trading volume of 15,557,882 shares. Gilead Sciences has a 52-week low of $63.76 and a 52-week high of $86.27. The company has a market cap of $106.55 billion, a PE ratio of 8.86 and a beta of 1.14. The company has a 50-day moving average price of $82.69 and a 200 day moving average price of $72.48.

Gilead Sciences (NASDAQ:GILD) last posted its quarterly earnings data on Wednesday, July 26th. The biopharmaceutical company reported $2.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.11 by $0.45. The business had revenue of $7.14 billion during the quarter, compared to analyst estimates of $6.35 billion. Gilead Sciences had a return on equity of 66.07% and a net margin of 42.90%. The company’s revenue for the quarter was down 8.2% on a year-over-year basis. During the same period last year, the company earned $3.08 EPS. Equities analysts expect that Gilead Sciences will post $8.74 earnings per share for the current year.

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The firm also recently announced a quarterly dividend, which was paid on Thursday, September 28th. Investors of record on Friday, September 15th were paid a dividend of $0.52 per share. The ex-dividend date of this dividend was Thursday, September 14th. This represents a $2.08 annualized dividend and a yield of 2.55%. Gilead Sciences’s dividend payout ratio (DPR) is 22.58%.

In related news, CFO Robin L. Washington sold 51,820 shares of the business’s stock in a transaction on Thursday, September 7th. The stock was sold at an average price of $85.00, for a total transaction of $4,404,700.00. Following the transaction, the chief financial officer now directly owns 43,352 shares in the company, valued at approximately $3,684,920. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Gregg H. Alton sold 40,000 shares of the business’s stock in a transaction on Friday, July 21st. The stock was sold at an average price of $74.00, for a total value of $2,960,000.00. Following the transaction, the executive vice president now owns 137,488 shares in the company, valued at $10,174,112. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 486,819 shares of company stock worth $39,298,919. 1.30% of the stock is owned by company insiders.

Hedge funds have recently made changes to their positions in the stock. Harel Insurance Investments & Financial Services Ltd. grew its stake in Gilead Sciences by 583.3% during the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,640 shares of the biopharmaceutical company’s stock worth $110,000 after buying an additional 1,400 shares during the last quarter. Penserra Capital Management LLC grew its stake in Gilead Sciences by 9.5% during the 1st quarter. Penserra Capital Management LLC now owns 1,656 shares of the biopharmaceutical company’s stock worth $112,000 after buying an additional 144 shares during the last quarter. Webster Bank N. A. grew its stake in Gilead Sciences by 51.7% during the 1st quarter. Webster Bank N. A. now owns 1,831 shares of the biopharmaceutical company’s stock worth $125,000 after buying an additional 624 shares during the last quarter. American Beacon Advisors Inc. purchased a new position in Gilead Sciences during the 1st quarter worth $143,000. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new position in Gilead Sciences during the 2nd quarter worth $147,000. Hedge funds and other institutional investors own 73.97% of the company’s stock.

Gilead Sciences Company Profile

Gilead Sciences, Inc is a research-based biopharmaceu

According to Zacks, “Gilead is known for its presence in the HCV market because of its blockbuster HCV drugs, Sovaldi and Harvoni. However, the HCV franchise continued to witness slowdown as a result of competitive and pricing pressure. Higher discounts and payer mix continue to hurt sales. The company expects that the persistent decline in HCV patient starts will impact sales along with increased competition which will impact both patient share and pricing. While the HIV franchise maintains momentum driven by the rapid adoption of TAF-based regimens, Gilead will lose exclusivity for Viread in 2017 in some countries which should impact sales. TOn a positive note, Gilead recently acquired Kite Pharma to foray into the CAR T therapy space which represents immense potential at this juncture . Shares of the company have outperformed the industry so far in 2017.”

GILD has been the subject of several other reports. BidaskClub lowered Gilead Sciences from a buy rating to a hold rating in a research note on Wednesday, August 9th. Argus raised Gilead Sciences from a hold rating to a buy rating and set a $100.00 price objective for the company in a research note on Thursday, August 31st. Vetr lowered Gilead Sciences from a strong-buy rating to a buy rating and set a $82.15 price objective for the company. in a research note on Monday, August 28th. Cowen and Company reaffirmed an outperform rating and issued a $90.00 price objective on shares of Gilead Sciences in a research note on Wednesday, July 5th. Finally, Wells Fargo & Company raised their price objective on Gilead Sciences from $73.00 to $81.00 and gave the company a market perform rating in a research note on Wednesday, September 6th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus target price of $85.64.

Shares of Gilead Sciences (NASDAQ GILD) traded up 1.97% during mid-day trading on Wednesday, reaching $81.59. The company’s stock had a trading volume of 15,557,882 shares. Gilead Sciences has a 52-week low of $63.76 and a 52-week high of $86.27. The company has a market cap of $106.55 billion, a PE ratio of 8.86 and a beta of 1.14. The company has a 50-day moving average price of $82.69 and a 200 day moving average price of $72.48.

Gilead Sciences (NASDAQ:GILD) last posted its quarterly earnings data on Wednesday, July 26th. The biopharmaceutical company reported $2.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.11 by $0.45. The business had revenue of $7.14 billion during the quarter, compared to analyst estimates of $6.35 billion. Gilead Sciences had a return on equity of 66.07% and a net margin of 42.90%. The company’s revenue for the quarter was down 8.2% on a year-over-year basis. During the same period last year, the company earned $3.08 EPS. Equities analysts expect that Gilead Sciences will post $8.74 earnings per share for the current year.

TRADEMARK VIOLATION NOTICE: This story was first reported by The Ledger Gazette and is the property of of The Ledger Gazette. If you are viewing this story on another domain, it was illegally copied and reposted in violation of US and international trademark and copyright legislation. The correct version of this story can be accessed at https://ledgergazette.com/2017/10/19/gilead-sciences-inc-gild-downgraded-by-zacks-investment-research-to-sell.html.

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 28th. Investors of record on Friday, September 15th were paid a dividend of $0.52 per share. The ex-dividend date of this dividend was Thursday, September 14th. This represents a $2.08 annualized dividend and a yield of 2.55%. Gilead Sciences’s dividend payout ratio (DPR) is 22.58%.

In related news, CFO Robin L. Washington sold 51,820 shares of the business’s stock in a transaction on Thursday, September 7th. The stock was sold at an average price of $85.00, for a total transaction of $4,404,700.00. Following the transaction, the chief financial officer now directly owns 43,352 shares in the company, valued at approximately $3,684,920. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Gregg H. Alton sold 40,000 shares of the business’s stock in a transaction on Friday, July 21st. The stock was sold at an average price of $74.00, for a total value of $2,960,000.00. Following the transaction, the executive vice president now owns 137,488 shares in the company, valued at $10,174,112. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 486,819 shares of company stock worth $39,298,919. 1.30% of the stock is owned by company insiders.

Hedge funds have recently made changes to their positions in the stock. Harel Insurance Investments & Financial Services Ltd. grew its stake in Gilead Sciences by 583.3% during the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,640 shares of the biopharmaceutical company’s stock worth $110,000 after buying an additional 1,400 shares during the last quarter. Penserra Capital Management LLC grew its stake in Gilead Sciences by 9.5% during the 1st quarter. Penserra Capital Management LLC now owns 1,656 shares of the biopharmaceutical company’s stock worth $112,000 after buying an additional 144 shares during the last quarter. Webster Bank N. A. grew its stake in Gilead Sciences by 51.7% during the 1st quarter. Webster Bank N. A. now owns 1,831 shares of the biopharmaceutical company’s stock worth $125,000 after buying an additional 624 shares during the last quarter. American Beacon Advisors Inc. purchased a new position in Gilead Sciences during the 1st quarter worth $143,000. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new position in Gilead Sciences during the 2nd quarter worth $147,000. Hedge funds and other institutional investors own 73.97% of the company’s stock.

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.

Analyst Recommendations for Gilead Sciences (NASDAQ:GILD)

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