BMO Capital Markets Cuts Gilead Sciences, Inc. (NASDAQ:GILD) Price Target to $83.00

Gilead Sciences, Inc. (NASDAQ:GILD) had its price target reduced by research analysts at BMO Capital Markets from $89.00 to $83.00 in a research note issued on Friday, October 27th. The firm currently has an “outperform” rating on the biopharmaceutical company’s stock. BMO Capital Markets’ price objective indicates a potential upside of 14.17% from the stock’s current price.

Several other equities analysts have also issued reports on GILD. Jefferies Group LLC restated a “buy” rating and set a $82.00 target price on shares of Gilead Sciences in a research report on Tuesday, July 4th. J P Morgan Chase & Co restated an “overweight” rating and set a $82.00 target price on shares of Gilead Sciences in a research report on Tuesday, July 4th. Cowen and Company restated an “outperform” rating and set a $90.00 target price on shares of Gilead Sciences in a research report on Wednesday, July 5th. Morgan Stanley restated an “equal weight” rating on shares of Gilead Sciences in a research report on Tuesday, July 11th. Finally, Robert W. Baird restated an “outperform” rating and set a $87.00 target price on shares of Gilead Sciences in a research report on Thursday, July 13th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $84.87.

Gilead Sciences (GILD) traded down $1.07 during trading on Friday, hitting $72.70. The stock had a trading volume of 2,918,892 shares, compared to its average volume of 9,360,261. The firm has a market cap of $96,363.46, a price-to-earnings ratio of 7.70, a P/E/G ratio of -1.24 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 current ratio of 3.68 and a quick ratio of 3.56.

Gilead Sciences (NASDAQ:GILD) last posted its earnings results on Thursday, October 26th. The biopharmaceutical company reported $2.27 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.13 by $0.14. The company had revenue of $6.51 billion during the quarter, compared to analyst estimates of $6.40 billion. Gilead Sciences had a return on equity of 57.15% and a net margin of 42.22%. The company’s revenue for the quarter was down 13.2% compared to the same quarter last year. During the same period in the previous year, the company earned $2.75 EPS. equities research analysts expect that Gilead Sciences will post 8.53 EPS for the current fiscal year.

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In other news, EVP James R. Meyers sold 60,000 shares of the company’s stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $83.19, for a total transaction of $4,991,400.00. Following the completion of the sale, the executive vice president now directly owns 62,715 shares in the company, valued at approximately $5,217,260.85. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Robin L. Washington sold 51,820 shares of the company’s stock in a transaction on Thursday, September 7th. The shares were sold at an average price of $85.00, for a total value of $4,404,700.00. Following the sale, the chief financial officer now owns 43,352 shares of the company’s stock, valued at $3,684,920. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 446,819 shares of company stock worth $36,269,486. Insiders own 1.30% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the company. Keel Point LLC lifted its position in shares of Gilead Sciences by 0.4% during the 1st quarter. Keel Point LLC now owns 3,111 shares of the biopharmaceutical company’s stock valued at $211,000 after acquiring an additional 11 shares during the period. Paradigm Financial Advisors LLC lifted its position in shares of Gilead Sciences by 0.3% during the 2nd quarter. Paradigm Financial Advisors LLC now owns 8,723 shares of the biopharmaceutical company’s stock valued at $617,000 after acquiring an additional 26 shares during the period. West Oak Capital LLC lifted its position in shares of Gilead Sciences by 0.7% during the 2nd quarter. West Oak Capital LLC now owns 4,666 shares of the biopharmaceutical company’s stock valued at $330,000 after acquiring an additional 32 shares during the period. First Heartland Consultants Inc. lifted its position in shares of Gilead Sciences by 0.4% during the 2nd quarter. First Heartland Consultants Inc. now owns 8,927 shares of the biopharmaceutical company’s stock valued at $632,000 after acquiring an additional 39 shares during the period. Finally, Princeton Portfolio Strategies Group LLC lifted its position in shares of Gilead Sciences by 0.4% during the 2nd quarter. Princeton Portfolio Strategies Group LLC now owns 9,766 shares of the biopharmaceutical company’s stock valued at $691,000 after acquiring an additional 41 shares during the period. Hedge funds and other institutional investors own 74.62% 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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