Cantor Fitzgerald Thinks Gilead Sciences’ Stock is Going to Recover

By Jason Carr

In a report released today, Alethia Young from Cantor Fitzgerald reiterated a Buy rating on Gilead Sciences (GILDResearch Report), with a price target of $87. The company’s shares opened today at $62.47, close to its 52-week low of $60.32.

Young noted:

“. We reiterate our Overweight rating and $87 Price Target. We do not think today’s announcement that GILD’s STELLAR3 study was unsuccessful will be met with much surprise after the previous STELLAR4 failure: no changes to our estimates. The fibrosis improvement was least for the high dose and greatest for the placebo with a p-value at the higher dose of 0.42 and at lower dose it was 0.93. After both STELLAR Ph3 readouts we are focused on how Gilead will advance its strategy in NASH; we think M&A could be a strategy.”

According to TipRanks.com, Young is a 4-star analyst with an average return of 7.3% and a 46.3% success rate. Young covers the Healthcare sector, focusing on stocks such as BioMarin Pharmaceutical Inc., Spectrum Pharmaceuticals, and Vertex Pharmaceuticals.

Currently, the analyst consensus on Gilead Sciences is a Moderate Buy with an average price target of $81.47, implying a 30.4% upside from current levels. In a report issued on April 10, UBS also upgraded the stock to Buy with a $77 price target.

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Gilead Sciences’ market cap is currently $80.51B and has a P/E ratio of 15.07. The company has a Price to Book ratio of 3.76.

Based on the recent corporate insider activity of 54 insiders, corporate insider sentiment is negative on the stock. Most recently, in February 2019, Gayle Wilson, a Director at GILD sold 19,068 shares for a total of $1,278,891.

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 engages in the research, development, and commercialization of medicines in areas of unmet medical need. Its primary areas of focus include human immunodeficiency virus, acquired immunodeficiency syndrome, liver diseases, hematology, oncology, and inflammation and respiratory diseases.