Gilead Sciences Receives a Buy from Berenberg Bank

By Austin Angelo

Berenberg Bank analyst Laura Sutcliffe assigned a Buy rating to Gilead Sciences (NASDAQ: GILD) today and set a price target of $86. The company’s shares opened today at $74.29.

Sutcliffe has an average return of 5.3% when recommending Gilead Sciences.

According to TipRanks.com, Sutcliffe is ranked #2411 out of 4619 analysts.

Currently, the analyst consensus on Gilead Sciences is Moderate Buy and the average price target is $84.55, representing a 13.8% upside.

In a report released yesterday, Credit Suisse also reiterated a Buy rating on the stock with a $85 price target.

Based on Gilead Sciences’ latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $7.13 billion and quarterly net profit of $3.07 billion. In comparison, last year the company earned revenue of $7.79 billion and had a net profit of $3.5 billion.

Based on the recent corporate insider activity of 64 insiders, corporate insider sentiment is negative on the stock. Earlier this month, John C. Martin, the Chairman & CEO of GILD sold 73,333 shares for a total of $5,562,308.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Gilead Sciences, Inc. is a biopharmaceutical company, which discovers, develops and commercializes therapeutics for unmet medical need. It focuses on human immunodeficiency virus and liver diseases, such as chronic hepatitis C virus infection & chronic hepatitis B virus infection, hematology & oncology, and cardiovascular & inflammation as well as respiratory diseases. The company’s products include Descovy, Odefsey, Genvoya, Stribild, Complera, Atripla, Truvada, Viread, Emtriva, Tybost, Vitekta, Vemlidy, Epclusa, Harvoni, Sovaldi, Viread, Hepsera, Zydelig, Letairis, Ranexa, Lexiscan, Cayston, Tamiflu, AmBisome and Macugen. Gilead Sciences was founded by Michael L. Riordan on June 22, 1987 and is headquartered in Foster City, CA.