Company Update: Gilead Sciences Inc (NASDAQ:GILD) – Gilead’s HIV drug gets closer to getting Europe approval

[Reuters] – Gilead Sciences Inc’s experimental cocktail to treat HIV received a green light from European regulators on Friday, boosting the chances of the drug being formally approved by the European Commission. The European Medicines Agency issued a positive opinion on the treatment, Descovy, a combination of emtricitabine and tenofovir alafenamide. One of Gilead’s treatments for HIV, Truvada, is an approved drug to be taken in a PrEP regimen, a group of drugs recommended by the U.S. Centers for Disease Control and Prevention to help prevent HIV infection. Read more on this. Gilead Sciences Inc. (GILD) , currently valued at $127.48B, started the session at $90.61. Looking at the equity, the company’s one day range is $89.63 to $90.92 with the price of the stock fluctuating between $81.89 to $123.37 over the last 52 weeks. GILD shares are currently priced at 7.27x this year’s forecasted earnings, which makes them relatively expensive compared to the industry ’s -0.72x earnings multiple for the same period. And for passive income investors, the company pays shareholders $1.72 per share annually in dividends, yielding 1.93%. In a review of the consensus earnings estimate this quarter, 20 sell-side analysts are looking at $3.07 per share, which would be $0.13 better than the year-ago quarter and a $0.15 sequential increase. The full-year EPS estimate is $12.16 which would be a $0.45 setback than last year’s full-year earnings. The quarterly earnings estimate is predicated on a consensus revenue forecast of $7.98 Billion. If reported, that would be a 5.14% increase over the year-ago quarter. In terms of ratings, Citigroup Initiated GILD at Buy (Feb 25, 2016). Previously, Standpoint Research Initiated GILD at to Buy. Given all the information above, we should disclose to readers that the average price target is $115.89, which is 27.90% above than it opened this morning. See more in (NASDAQ:GILD) Similar Articles: Stock Update: Gilead Sciences Inc (NASDAQ:GILD) – FDA expands use of Gilead’s liver drug to rare subset of patients Stock Update: Gilead Sciences Inc (NASDAQ:GILD) – Massachusetts challenges Gilead’s hepatitis C drug prices 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