Gilead Sciences (NASDAQ:GILD) Downgraded by Credit Suisse Group

Gilead Sciences (NASDAQ:GILD) was downgraded by equities researchers at Credit Suisse Group from a “neutral” rating to an “underperform” rating in a research report issued to clients and investors on Friday, The Fly reports.

GILD has been the subject of several other research reports. Wells Fargo & Co set a $81.00 target price on shares of Gilead Sciences and gave the company a “buy” rating in a research report on Friday, October 25th. Robert W. Baird set a $76.00 target price on shares of Gilead Sciences and gave the company a “hold” rating in a research report on Friday, October 25th. Oppenheimer dropped their target price on shares of Gilead Sciences from $85.00 to $80.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. ValuEngine upgraded shares of Gilead Sciences from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, Raymond James set a $85.00 target price on shares of Gilead Sciences and gave the company a “buy” rating in a research report on Friday, August 23rd. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $79.09.

Shares of Gilead Sciences stock opened at $67.63 on Friday. The firm has a fifty day moving average of $65.46 and a two-hundred day moving average of $65.34. The stock has a market capitalization of $85.75 billion, a price-to-earnings ratio of 11.00, a PEG ratio of 4.18 and a beta of 1.14. Gilead Sciences has a 52 week low of $60.32 and a 52 week high of $70.50. The company has a debt-to-equity ratio of 1.11, a quick ratio of 2.87 and a current ratio of 2.96.

Gilead Sciences (NASDAQ:GILD) last issued its earnings results on Thursday, October 24th. The biopharmaceutical company reported $1.75 EPS for the quarter, beating the consensus estimate of $1.74 by $0.01. The company had revenue of $5.60 billion during the quarter, compared to analysts’ expectations of $5.61 billion. Gilead Sciences had a net margin of 12.04% and a return on equity of 37.50%. The business’s revenue for the quarter was up .1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.84 EPS. As a group, research analysts forecast that Gilead Sciences will post 6.63 EPS for the current fiscal year.

In related news, EVP Brett A. Pletcher sold 2,095 shares of the company’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $66.06, for a total value of $138,395.70. Following the completion of the transaction, the executive vice president now directly owns 17,826 shares of the company’s stock, valued at approximately $1,177,585.56. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Brett A. Pletcher sold 5,677 shares of the company’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $63.31, for a total transaction of $359,410.87. Following the completion of the transaction, the executive vice president now directly owns 21,521 shares of the company’s stock, valued at $1,362,494.51. The disclosure for this sale can be found here. Insiders sold a total of 42,672 shares of company stock valued at $2,795,780 in the last three months. 0.20% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in GILD. LeJeune Puetz Investment Counsel LLC boosted its stake in shares of Gilead Sciences by 0.6% during the 3rd quarter. LeJeune Puetz Investment Counsel LLC now owns 26,385 shares of the biopharmaceutical company’s stock worth $1,672,000 after buying an additional 155 shares during the last quarter. Perigon Wealth Management LLC boosted its stake in shares of Gilead Sciences by 0.3% during the 2nd quarter. Perigon Wealth Management LLC now owns 51,335 shares of the biopharmaceutical company’s stock worth $3,468,000 after buying an additional 165 shares during the last quarter. Cornerstone Wealth Management LLC boosted its stake in shares of Gilead Sciences by 3.6% during the 3rd quarter. Cornerstone Wealth Management LLC now owns 4,962 shares of the biopharmaceutical company’s stock worth $314,000 after buying an additional 174 shares during the last quarter. Municipal Employees Retirement System of Michigan boosted its stake in shares of Gilead Sciences by 0.5% during the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 33,530 shares of the biopharmaceutical company’s stock worth $2,125,000 after buying an additional 180 shares during the last quarter. Finally, Larson Financial Group LLC raised its holdings in shares of Gilead Sciences by 30.7% in the 3rd quarter. Larson Financial Group LLC now owns 826 shares of the biopharmaceutical company’s stock valued at $52,000 after purchasing an additional 194 shares during the period. 79.38% of the stock is owned by hedge funds and other institutional investors.

About Gilead Sciences

Gilead Sciences, Inc, a research-based biopharmaceutical company, discovers, develops, and commercializes medicines 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, and Truvada for the treatment of human immunodeficiency virus (HIV) infection in adults; and Vosevi, Vemlidy, Epclusa, Harvoni, and Viread products for treating liver diseases.

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Analyst Recommendations for Gilead Sciences (NASDAQ:GILD)

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