Morgan Stanley Maintains Gilead at ‘Equalweight’ with Price Target of $88.00
August 5, 2023
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Gilead Sciences ($NASDAQ:GILD), Inc. is a biopharmaceutical company focused on discovering, developing and commercializing innovative therapeutics for the treatment of life-threatening diseases. Gilead Sciences is based in Foster City, California, and is one of the largest biotechnology companies in the world. Morgan Stanley’s analysts have maintained Gilead’s rating as ‘Equalweight’ but lowered the price target from $93.00 to $88.00.
This new price target is based on Morgan Stanley’s expectations of a slight decline in revenue growth due to increased competition in the market for Gilead’s therapeutics. Furthermore, the analysts are cautious about Gilead’s ability to remain competitive against its peers, due to the company’s recent strategic decisions.
Share Price
On Friday, Gilead Sciences Inc.’s stock opened at $77.4 and closed the day at $78.7, an increase of 4.2% from the previous day’s closing price of $75.5. In response to the surge in share prices, Morgan Stanley maintained their rating of Gilead Sciences at “Equalweight” and set a price target of $88.00 for the company’s stock. The firm cited Gilead’s strong product portfolio, exceptional balance sheet, and strategic acquisitions as reasons for their bullish outlook on the company. Despite the positive news, analysts have advised investors to cautiously approach this stock due to near-term challenges. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Gilead Sciences. More…
| Total Revenues | Net Income | Net Margin |
| 27.04k | 5.58k | 32.3% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Gilead Sciences. More…
| Operations | Investing | Financing |
| 8.98k | -2.22k | -6.08k |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Gilead Sciences. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 61.88k | 40.94k | 17.02 |
Key Ratios Snapshot
Some of the financial key ratios for Gilead Sciences are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 6.0% | 42.8% | 30.3% |
| FCF Margin | ROE | ROA |
| 31.4% | 24.1% | 8.3% |
Analysis
GoodWhale has evaluated GILEAD SCIENCES‘s wellbeing using our proprietary Star Chart. Our analysis revealed that the company is strong in dividend and profitability, and medium in asset and growth. Based on this, we classify GILEAD SCIENCES as a ‘rhino’, a type of company with moderate revenue or earnings growth. More…
Peers
In the biopharmaceutical industry, competition is fierce. Among the companies vying for market share are Gilead Sciences Inc, Eli Lilly and Co, Amgen Inc, and SCYNEXIS Inc. All of these companies are working to develop new and innovative treatments for a variety of diseases.
– Eli Lilly and Co ($NYSE:LLY)
Eli Lilly and Co is a pharmaceutical company with a market cap of 316.8 billion as of May 2021. The company has a return on equity of 45.88% and is headquartered in Indianapolis, Indiana. Eli Lilly and Co develops and markets prescription medications and over-the-counter products. The company’s products are available in approximately 120 countries.
– Amgen Inc ($NASDAQ:AMGN)
Amgen Inc is a biopharmaceutical company with a market cap of 135.3B as of 2022. The company has a return on equity of 460.37%. Amgen Inc is a biopharmaceutical company that discovers, develops, manufactures, and delivers human therapeutics worldwide. The company offers products for the treatment of oncology/hematology, cardiovascular, inflammation, bone health, and nephrology.
– SCYNEXIS Inc ($NASDAQ:SCYX)
SCYNEXIS Inc. is a biopharmaceutical company, which focuses on the development and commercialization of novel anti-infectives to address unmet therapeutic needs. The company’s lead product, SCY-078, is an oral and intravenous antifungal agent in Phase 3 clinical development for the treatment of serious and life-threatening invasive fungal infections. SCYNEXIS Inc. was founded by Peter R. Lupton, David P. Lupton and George W. Schmidt in December 1997 and is headquartered in Durham, NC.
Summary
Gilead Sciences is an American biopharmaceutical company that focuses on research, development, and commercialization of medicines used to treat HIV/AIDS, liver diseases, cancer, and other rare diseases. Morgan Stanley analyst released a report maintaining Gilead’s stock at ‘equalweight’ with a new price target of $88.00, up from the previous price target. This announcement caused the stock price to move up the same day.
For investors looking to gain exposure to Gilead Sciences, this upgrade is a bullish sign. It is recommended that investors do their own research and continue to monitor the stock performance in order to make informed decisions about their investments.
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