Needham Releases a Hold Rating on Gilead Sciences (GILD)

By Austin Angelo

In a report released today, Alan Carr from Needham assigned a Hold rating to Gilead Sciences (GILDResearch Report). The company’s shares closed last Monday at $74.56.

According to TipRanks.com, Carr is a 2-star analyst with an average return of 0.1% and a 42.4% success rate. Carr covers the Healthcare sector, focusing on stocks such as Lexicon Pharmaceuticals, Phathom Pharmaceuticals, and ACADIA Pharmaceuticals.

Currently, the analyst consensus on Gilead Sciences is a Hold with an average price target of $79.60, representing a 4.0% upside. In a report issued on June 22, Merrill Lynch also maintained a Hold rating on the stock with a $82.00 price target.

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Based on Gilead Sciences’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $5.55 billion and net profit of $1.55 billion. In comparison, last year the company earned revenue of $5.28 billion and had a net profit of $1.98 billion.

Based on the recent corporate insider activity of 66 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of GILD in relation to earlier this year.

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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. The firms primary areas of focus include human immunodeficiency virus, acquired immunodeficiency syndrome, liver diseases, hematology, oncology, and inflammation and respiratory diseases. It offers antiviral products under Harvoni, Genvoya, Epclusa, Truvada, Atripla, Descovy, Stribild, Viread, Odefsey, Complera/Eviplera, Sovaldi, and Vosevi brands. The company was founded by Michael L. Riordan on June 22, 1987 and is headquartered in Foster, CA.