Gilead Sciences broadens portfolio with $11bn Kite Pharma Inc acquisition


Vetr raised shares of Gilead Sciences from a "buy" rating to a "strong-buy" rating and set a $83.66 target price for the company in a research report on Monday, June 26th. The institutional investor held 65,915 shares of the biological products (no diagnostic substances) company at the end of 2016Q4, valued at $9.64M, down from 67,970 at the end of the previous reported quarter. The company value for the acquisition reflects a 29% premium on the market price.

"A lot of people were too cautious about how big it was going to be out of the gate", said Corey Davis, an analyst at H.C. Wainwright & Co. who had the the highest price target on Kite shares, in a phone interview. Amgen, Inc. (NASDAQ:AMGN) has risen 5.27% since August 28, 2016 and is uptrending. Insiders have sold 266,299 shares of company stock valued at $28,364,633 in the last quarter. The company had revenue of $10.10 million during the quarter, compared to the consensus estimate of $9.59 million.

Although Gilead has a pipeline of oncology drugs, Milligan acknowledged on an early morning conference call that the Foster City, Calif. -based company hasn't exactly hit a home run in the space. The stock rose 1.68% or $1.24 reaching $75.03. Shares for $668,667 were sold by Cogan John Francis. Kite has completed its USA commercial launch and manufacturing preparations, according to Gilead officials, and is building a similar infrastructure in Europe for initial launch. It has underperformed by 38.50% the S&P500. 5,000 Gilead Sciences, Inc. (NASDAQ:GILD) for 14,247 shares.

And now he doesn't have to worry about the soaring stock price, which has added another 29 percent in the wake of the Gilead news. BlackRock Inc. increased its position in shares of Kite Pharma by 106,272.1% in the first quarter.

Investors sentiment decreased to 1.31 in Q4 2016. Its down 0.21, from 1.45 in 2016Q3. Monetary Mngmt Grp Incorporated owns 34,850 shares for 1.15% of their portfolio. (NASDAQ:GILD). Alpine Woods Invsts Lc has 31,600 shares for 0.13% of their portfolio. Swiss Bank invested in 94,500 shares or 0.01% of the stock. Moreover, Northern Tru Corp has 0.01% invested in Kite Pharma Inc (NASDAQ:KITE) for 450,292 shares. D E Shaw & accumulated 10,282 shares. Next quarter's EPS is forecasted to be $-2.39 with next year's EPS anticipated to be $-7.06. 711,420 are held by Bridger Management Ltd Limited Liability Company. Suntrust Banks reported 0.12% of its portfolio in Gilead Sciences, Inc. (NASDAQ:GILD). Princeton Port Strategies Gru Ltd invested in 19,933 shares. Nbt Bancorp N A reported 0.17% in Gilead Sciences, Inc. (NASDAQ:GILD). Zeke Capital Advisors Llc has 0.22% invested in Gilead Sciences, Inc. (NASDAQ:GILD) for 84,009 shares. Therefore 50% are positive. Baidu had 42 analyst reports since July 28, 2015 according to SRatingsIntel.

Gilead to buy Kite Pharma in $11.9 billion deal from CNBC. Gilead Sciences now has $98.58B valuation. The rating was maintained by RBC Capital Markets with "Outperform" on Monday, October 3. American Assets Invest Mgmt Ltd Liability Corp has invested 0.08% in Gilead Sciences, Inc. (NASDAQ:GILD) has "Hold" rating given on Tuesday, July 26 by Needham. As per Wednesday, February 22, the company rating was initiated by Wells Fargo. (NASDAQ:GILD) has "Buy" rating given on Tuesday, July 25 by Piper Jaffray.

Since March 2, 2017, it had 0 buys, and 6 sales for $2.28 million activity. Of those transactions, there were 99,079 shares of GILD bought and 1.55 million shares sold. 32 funds opened positions while 68 raised stakes. 125,600 are owned by Factory Mutual. Oz Management L P owns 51,900 shares or 0.02% of their U.S. portfolio. Metropolitan Life Ny holds 27,967 shares. Asset Of Georgia Ga Adv, a Georgia-based fund reported 8,797 shares. About 6.30 million shares traded or 570.10% up from the average. Next Finance owns 200 shares or 0% of their USA portfolio. Its down 3.5% from 10.09M shares, reported previously. 319,910 are held by Bridgeway Capital Inc.