Boston, MA 07\/03\/2014 (wallstreetpr) \u2013 Gilead Sciences, Inc. (NASDAQ:GILD)<\/b> is a research-based drug company that is engaged in the development and commercialization of medicines. The company is behind the expensive but highly recommended hepatitis C treatment known as Sovaldi. The drug hit the market in January and costs $84,000 for treatment.<\/p>\n
A number of insiders have sold the stock of Gilead (NASDAQ:GILD) in their possession at a time when analysts maintain a Buy recommendation on the stock. The notable sellers from within the company include board member Richard James Whitley and CFO Robin L. Washington.<\/p>\n
In the latest development, Whitley unloaded 5,000 shares at the average price of $83.65 apiece to fetch about $418,250 in proceeds. The director sold only smaller portion of his holding in the company because he retains more than 15,600 shares directly, which is worth more than $1.3 million.<\/p>\n
On his part, Washington sold 10,400 shares at the average price of $83.98 in a transaction that generated more than $873,390 in proceeds.<\/p>\n
The insider selling in the company comes at a time when the stock has been through massive gains especially following the success of its hepatitis C treatment, Sovaldi. The stock is up nearly 16 percent so far in 2014.<\/p>\n
Good To Own<\/b><\/p>\n
A majority of analysts covering Gilead Sciences, Inc. (NASDAQ:GILD) recommend the stock for a Buy as they expect the stock to hit $94.91 per share within the next 12 months. The stock currently trades in the region of $87 per share.<\/p>\n
The notable bullish firms covering the stock include Morgan Stanley (NYSE:MS)<\/b>, which has an \u201cequal weight\u201d on the stock and a price target of $75 per share. Jefferies Group has a \u201cBuy\u201d recommendation on the stock while Deutsche Bank believes the stock will hit $142 per share in 12 months.<\/p>\n
Basis Of Optimism<\/b><\/p>\n
The wave of optimism sweeping across Gilead Sciences, Inc. (NASDAQ:GILD) is based on the success of the company\u2019s hepatitis treatment and rich product lineup. The company generated $5 billion in revenue in the most recent quarter, beating the consensus estimate at $3.80 billion. The company also smashed EPS expectations in the quarter by perching at $1.48 against $0.85.<\/p>\n","protected":false},"excerpt":{"rendered":"
Boston, MA 07\/03\/2014 (wallstreetpr) \u2013 Gilead Sciences, Inc. (NASDAQ:GILD) is a research-based drug company that is engaged in the development and commercialization of medicines. The […]<\/p>\n","protected":false},"author":15,"featured_media":19322,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"twitter_2902945987_2902945987":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[264],"tags":[1978,3626,3474,1877,1522,1431],"stock_ticker":[],"class_list":["post-27020","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-health","tag-gilead-sciences-inc-nasdaqgild","tag-gilead-sciences-inc","tag-morgan-stanley","tag-morgan-stanley-nysems","tag-nasdaqgild","tag-nysems","entry"],"acf":[],"yoast_head":"\n