Andrew D. Dickinson, the Chief Financial Officer of Gilead Sciences, Inc. (NASDAQ:GILD), a prominent biotechnology company with a market capitalization of $113 billion and "GREAT" financial health according to InvestingPro analysis, has recently sold 2,500 shares of the company's common stock. The transaction, which took place on January 15, 2025, was executed at a price of $91.35 per share, resulting in a total sale value of $228,375. The stock has shown strong momentum with a 31% gain over the past six months, while maintaining relatively low price volatility.
Following this transaction, Dickinson holds 129,873 shares of Gilead Sciences. The sale was made under a Rule 10b5-1 trading plan, which was adopted on August 29, 2024. This plan allows company insiders to set up a predetermined schedule for selling stocks, ensuring that the transactions are carried out in compliance with insider trading laws. For deeper insights into insider trading patterns and 8 additional exclusive ProTips about GILD, visit InvestingPro.
In other recent news, Gilead Sciences has been experiencing significant developments. The company received an upgrade from Morgan Stanley (NYSE:MS), lifting the stock rating to Overweight based on the potential of Lenacapavir, an HIV prevention drug, and anito-cel, a treatment for multiple myeloma. The firm also increased the price target to $113 from the previous $87.
RBC (TSX:RY) Capital Markets, meanwhile, maintained a Sector Perform rating for Gilead, citing a solid foundation in HIV treatment, particularly with the drug Biktarvy. Despite a slight reduction in the price target from $84.00 to $83.00, the firm anticipates stability in the HIV franchise, supporting the company's valuation.
Gilead also received Breakthrough Therapy Designation from the U.S. Food and Drug Administration for Trodelvy, a drug intended to treat a specific form of lung cancer. This designation was based on positive results from the Phase 2 TROPiCS-03 study.
Additionally, Gilead entered into a strategic collaboration with Terray Therapeutics to develop small molecule therapies, leveraging Terray's AI-driven tNova drug discovery platform. Bernstein SocGen Group and Deutsche Bank (ETR:DBKGn) maintained their Outperform and Hold ratings for Gilead, respectively, highlighting the potential longevity of Gilead's HIV franchise. These are the recent developments that investors should take note of.
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