Market Update: Gilead Sciences Inc (NASDAQ:GILD) – Gilead Submits New Drug Application to U.S. Food and Drug Administration for Tenofovir Alafenamide (TAF) for the Treatment of Chronic Hepatitis B

[Business Wire] – Gilead Sciences, Inc. today announced that it has submitted a New Drug Application to the U.S. Food and Drug Administration for tenofovir alafenamide 25 mg, an investigational, once-daily treatment for adults with chronic hepatitis B virus infection. Read more on this. Gilead Sciences Inc. (GILD) , valued at $141.65B, started the session at $97.00. Looking at today’s market, GILD one day range is $96.87 to $98.49 with a one year range of $86.00 to $123.37. Priced at 7.91x this year’s forecasted earnings, GILD shares are relatively expensive compared to the industry’s -6.15x forward p/e ratio. The company pays shareholders $1.72 per share annually in dividends, yielding 1.78%. Consensus earnings for the current quarter by the 18 sell-side analysts covering the stock is an estimate of $2.98 per share, which would be $0.55 better than the year-ago quarter and a $0.18 sequential increase. Furthermore, our analysis shows the full-year EPS estimate to be $12.19, which would be a $4.10 improvement when compared to the last year’s annual results. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $8.09 Billion. If realized, that would be a 10.67% increase over the year-ago quarter. Recently, Morgan Stanley downgraded GILD from Overweight to Equal-Weight (Oct 2, 2015). Previously, Jefferies Initiated GILD at to Hold. Given all the information above, we should disclose to readers that the average price target is $123.44, which is 27.26% above than it opened this morning. See more in (NASDAQ:GILD) Similar Articles: Market Update (NASDAQ:GILD): Health Canada Issues Notice of Compliance for Gilead’s Single Tablet Regimen Genvoya™ (Elvitegravir, Cobicistat, Emtricitabine and Tenofovir Alafenamide) for Treatment of HIV-1 Infection Stock Update: Gilead Sciences Inc (NASDAQ:GILD) – Gilead Provides Update on Investigational Compound, GS-5734, for the Treatment of Ebola Virus Disease Market Update: Gilead Sciences Inc (NASDAQ:GILD) – European Medicines Agency Validates Gilead’s Marketing Application for Single Tablet Regimen Containing Rilpivirine, Emtricitabine and Tenofovir Alafenamide (R/F/TAF) for HIV Treatment