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Cantor Fitzgerald Sticks to Its Buy Rating for Gilead Sciences (GILD)


In a report released today, Alethia Young from Cantor Fitzgerald maintained a Buy rating on Gilead Sciences (NASDAQ: GILD), with a price target of $87. The company’s shares closed yesterday at $76.56.

Young observed:

“: We rate Gilead shares Overweight, and our 12-month price target is $87. Rheumatology (ACR) abstracts are out with more data on FINCH-2. Recall, FINCH-2 is one of the Ph3 filgotinib (oral JAK inhibitor) trials under way. FINCH-2 was in RA patients who had an inadequate response or intolerance to 1 or more prior biologic DMARD. We estimate peak sales of $4B on an unadjusted basis, and GILD pays a 21% royalty to partner Galapagos (GLPG, NC). New data in the abstract looked at responses in patients who had 3 or more prior biologic DMARDs. At week 12, at 100mg and 200mg doses of filgotinib, 58.8% and 70.3%, of patients, respectively, achieved ACR20 vs. placebo of 17.6%.”

According to TipRanks.com, Young is a 4-star analyst with an average return of 7.7% and a 49.8% success rate. Young covers the Healthcare sector, focusing on stocks such as Vertex Pharmaceuticals, Puma Biotechnology, and Intercept Pharma.

Gilead Sciences has an analyst consensus of Strong Buy, with a price target consensus of $88.78.

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The company has a one-year high of $89.54 and a one-year low of $64.27. Currently, Gilead Sciences has an average volume of 6.42M.

Based on the recent corporate insider activity of 73 insiders, corporate insider sentiment is negative on the stock. Last month, John C. Martin, a Director at GILD sold 50,000 shares for a total of $3,707,809.

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. The firm offers antiviral products under Harvoni, Genvoya, Epclusa, Truvada, Atripla, Descovy, Stribild, Viread, Odefsey, Complera/Eviplera, Sovaldi, and Vosevi brands.