Needham Downgrades Gilead Sciences to Hold

Brokerage firm Needham Downgrades its rating on Gilead Sciences(NASDAQ:GILD). The shares have been rated Hold. Previously, the analysts had a Buy rating on the shares. The rating by Needham was issued on Jul 26, 2016.

In a different note, Gabelli & Co said it Initiates Coverage on Gilead Sciences, according to a research note issued on Jun 1, 2016. The shares have been rated ‘Buy’ by the firm. On May 26, 2016, Morgan Stanley said it Maintains its rating on Gilead Sciences. In the research note, the firm Lowers the price-target to $107.00 per share. The shares have been rated ‘Equal-weight’ by the firm. On Apr 29, 2016, Citigroup said it Maintains its rating on Gilead Sciences. In the research note, the firm Lowers the price-target to $110.00 per share. The shares have been rated ‘Buy’ by the firm. On Apr 29, 2016, Maxim Group said it Downgrades its rating on Gilead Sciences. The shares have been rated ‘Hold’ by the firm.

Gilead Sciences (GILD) shares turned negative on Fridays trading session with the shares closing down -1.77 points or -2.18% at a volume of 1,94,65,672. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $80.84. The peak price level was also seen at $80.84 while the days lowest was $79.37. Finally the shares closed at $79.47. The 52-week high of the shares is $120.3703 while the 52-week low is $77.92. According to the latest information available, the market cap of the company is $105,840 M.

Gilead Sciences has also declared a cash dividend of $0.4700 on Jul 25, 2016. The shares will quote ex-dividend on Sep 14, 2016 and the record date has been fixed on Sep 16, 2016. The dividend payable date has been fixed on Sep 29, 2016.

Gilead Sciences(GILD) last announced its earnings results on Jul 25, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $7.78B. Analysts had an estimated revenue of $7.79B. Earnings per share were $3.08. Analysts had estimated an EPS of $3.00.

Several Insider Transactions has been reported to the SEC. On Jul 7, 2016, John F Milligan (President and CEO) sold 112,000 shares at $84.62 per share price.Also, On Jul 6, 2016, John C Martin (Executive Chairman) sold 100,000 shares at $84.36 per share price.On Jul 6, 2016, Paul Rutherford Carter (EVP Commercial Ops) sold 2,000 shares at $83.12 per share price, according to the Form-4 filing with the securities and exchange commission.

Gilead Sciences Inc. (Gilead) is a research-based biopharmaceutical company that discovers develops and commercializes innovative medicines. The Company’s primary areas of focus include human immunodeficiency virus (HIV) liver diseases such as chronic hepatitis C virus (HCV) infection and chronic hepatitis B virus (HBV) infection oncology and inflammation and serious cardiovascular and respiratory conditions. The Company’s HIV products include Stribild Complera/Eviplera Atripla Truvada Viread Emtriva Tybost and Vitekta. Its Liver Diseases products include Harvoni Sovaldi Viread and Hepsera. Zydelig is the Company’s oncology product. Its Cardiovascular products include Letairis Ranexa and Lexiscan/Rapiscan. Its Respiratory products include Cayston and Tamiflu. Its other products include AmBisome and Macugen.

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