Gilead Sciences, Inc (NASDAQ:GILD) announced the promotion of Andrew Cheng, MD, PhD to Executive Vice President, HIV Therapeutics and Development Operations, and Taiyin Yang, PhD, to the role of Executive Vice President, Pharmaceutical Development and Manufacturing. Dr. Cheng and Dr. Yang will both join Gilead’s senior leadership committee.
Dr. Cheng joined Gilead in 1999. He has led clinical development activities for the company’s development-stage programs in HIV/AIDS. In 2009, he was appointed Senior Vice President, HIV Therapeutics and Development Operations, assuming additional responsibility for biometrics, clinical operations, clinical pharmacology, drug safety and public health, project management and regulatory affairs. Dr. Cheng reports to Norbert Bischofberger, PhD, Executive Vice President, Research and Development and Chief Scientific Officer. Prior to joining Gilead, Dr. Cheng trained in internal medicine at the University of California, Los Angeles. He received his medical degree and PhD in Cellular and Molecular Biology from Columbia University and his undergraduate degree from the Johns Hopkins University.
Dr. Yang joined Gilead in 1993 and was promoted to Senior Vice President in 2005. In her newly expanded role, Dr. Yang is responsible for managing pharmaceutical development, analytical operations, laboratory information, quality assurance and manufacturing of both clinical and commercial drug substance and drug product. She reports to Dr. Bischofberger and to John Milligan, PhD, President and Chief Operating Officer. Prior to joining Gilead, Dr. Yang was Director of Analytical Chemistry at Syntex. Dr. Yang received her bachelor’s degree in Chemistry from National Taiwan University and her PhD in Organic Chemistry from the University of Southern California.
“Andrew and Taiyin have both demonstrated leadership in bringing groups together to help expedite the development and manufacturing of products – ultimately allowing the company to reach patients in need more quickly,” commented Dr. Bischofberger. “They are experts in their respective fields and have helped build teams that are efficient and highly productive. These promotions recognize their achievements and dedication to bringing innovative new therapies to patients around the world.” (Original Source)
Shares of Gilead Sciences closed today at $110.54, down $2.29 or 2.03%. GILD has a 1-year high of $123.37 and a 1-year low of $85.95. The stock’s 50-day moving average is $117.31 and its 200-day moving average is $106.72.
On the ratings front, Gilead has been the subject of a number of recent research reports. In a report released today, Deutsche Bank analyst Robyn Karnauskas maintained a Buy rating on GILD, with a price target of $125, which implies an upside of 13.1% from current levels. Separately, on the same day, RBC’s Michael Yee maintained a Buy rating on the stock .
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Robyn Karnauskas and Michael Yee have a total average return of 15.8% and 11.8% respectively. Karnauskas has a success rate of 77.7% and is ranked #58 out of 3712 analysts, while Yee has a success rate of 67.6% and is ranked #251.
The street is mostly Bullish on GILD stock. Out of 17 analysts who cover the stock, 16 suggest a Buy rating and one recommends to Sell the stock. The 12-month average price target assigned to the stock is $123.47, which implies an upside of 11.7% from current levels.