Gilead Sciences (GILD) Gets a Hold Rating from Needham

By Jason Carr

In a report issued on May 3, Alan Carr from Needham maintained a Hold rating on Gilead Sciences (GILDResearch Report). The company’s shares closed on Friday at $67.13.

Carr observed:

“Gilead reported $5.28B in 1Q19 total revenue, in line w/ our $5.27B and consensus $5.3B ests. Product sales were $5.20B (-8% q/q), matching our $5.16B and consensus $5.2B ests. Mgmt had guided for 12-14% sequential decline. All annual guidance unch. Non-GAAP EPS $1.76 was above our $1.64 and consensus $1.61 ests. New CEO O’Day outlined priorities (Strengthen pipeline [internal and external business development]; Ensure optimal commercial delivery; and Reassess organizational structure [‘evolution not revolution’]) and announced that Kite will operate as a separate business unit w/ a new CEO reporting directly to O’Day. Filgotinib MAA to be submitted 3Q19, but no update yet on strategy/ timing for NDA submission. NASH ATLAS drug combination trial results expected 4Q19 (unch). HOLD.”

According to TipRanks.com, Carr is a 4-star analyst with an average return of 4.7% and a 44.1% success rate. Carr covers the Healthcare sector, focusing on stocks such as Biohaven Pharmaceutical Holding Co Ltd, ACADIA Pharmaceuticals Inc, and Rhythm Pharmaceuticals Inc.

Gilead Sciences has an analyst consensus of Moderate Buy, with a price target consensus of $82, representing a 22.2% upside. In a report issued on April 29, Piper Jaffray also maintained a Hold rating on the stock with a $75 price target.

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The company has a one-year high of $79.61 and a one-year low of $60.32. Currently, Gilead Sciences has an average volume of 7.17M.

Based on the recent corporate insider activity of 59 insiders, corporate insider sentiment is negative on the stock. Last month, Kevin Lofton, a Director at GILD bought 13,208 shares for a total of $328,879.

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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.