Gilead Sciences (NASDAQ: GILD)‘s stock had its “neutral” rating reiterated by Zacks in a note issued to investors on Monday. They currently have a $55.00 target price on the stock.
Zacks’ analyst wrote, “Gilead’s first quarter 2012 adjusted earnings of $0.61 missed the Zacks Consensus Estimate of $0.92 per share. Higher-than-expected expenses led to the earnings miss in the quarter. Revenues climbed 19% aided by higher product sales. We are optimistic on the growth prospects of the company’s HIV drugs, Truvada and Atripla. We are also encouraged by the approval of Complera/Eviplera, which together with Quad, once approved, will further fortify the HIV franchise and help mitigate the impact of the upcoming patent expirations. Gilead is looking to combat the threat of genericization by inking deals and acquisitions and introducing new products. We see limited upside potential from current levels and hence retain our Neutral stance on the stock.”
Shares of Gilead Sciences traded down 0.27% during mid-day trading on Monday, hitting $52.02. Gilead Sciences has a 52 week low of $34.45 and a 52 week high of $56.50. The company has a market cap of $39.396 billion and a P/E ratio of 14.69.
The company last announced its quarterly results on Thursday, April 26th. It reported $0.91 earnings per share (EPS) for the previous quarter, missing the Thomson Reuters consensus estimate of $0.94 EPS by $0.03. The company’s quarterly revenue was up 18.5% on a year-over-year basis. On average, analysts predict that Gilead Sciences will post $0.95 earnings per share next quarter.
Several other analysts have also recently commented on the stock. Analysts at Citigroup (NYSE: C) raised their price target on shares of Gilead Sciences to $64.00 in a research note to investors on Friday. They now have a “buy” rating on the stock. Separately, analysts at Needham & Company raised their price target on shares of Gilead Sciences from $54.00 to $56.00 in a research note to investors on Friday. They now have a “buy” rating on the stock. Finally, analysts at Needham & Company reiterated a “buy” rating on shares of Gilead Sciences in a research note to investors on Thursday, April 19th.
Gilead Sciences, Inc. (Gilead) is a biopharmaceutical company. The Company focuses on the development and commercialization of human therapeutics for life threatening diseases.