Gilead Sciences, Inc. (NASDAQ:GILD) Director Jeffrey Bluestone recently sold shares of the company's common stock, according to a filing with the Securities and Exchange Commission. On November 26, Bluestone sold 6,788 shares at a price of $91.3901 per share, totaling $620,355.
In addition to the sale, Bluestone exercised stock options to acquire 5,879 shares at $61.17 each and 4,121 shares at $61.35 each. These transactions, both completed on the same day, amounted to a total value of $612,441.
Following these transactions, Bluestone now holds 8,920 shares directly in Gilead Sciences.
In other recent news, Gilead Sciences has reported significant advancements in their research and financial sectors. The company announced high efficacy in a Phase 3 trial for its investigational HIV prevention drug, lenacapavir, showing a 96% reduction in HIV infections. Additionally, Gilead issued $3.5 billion in senior notes, intending to use the proceeds for general corporate purposes, including repaying existing debt. In the realm of analyst ratings, RBC (TSX:RY) Capital Markets maintained a Sector Perform rating for Gilead, with an adjusted price target of $84. Citi also expressed confidence in the company, assigning it a Buy rating with a price target of $125.
Interim results from Gilead's Phase 3 ASSURE study on Livdelzi, a treatment for primary biliary cholangitis (PBC), showed that 81% of PBC patients treated with Livdelzi achieved a composite biochemical response. The company also announced its earnings results for the third quarter of 2024, led by Chairman and CEO, Daniel O'Day. The specifics of these expectations were not disclosed, but the company's leadership engaged in a question and answer session following the announcement. These recent developments highlight Gilead's potential for growth and profitability.
InvestingPro Insights
Gilead Sciences' recent stock performance and financial metrics provide additional context to Director Jeffrey Bluestone's recent transactions. According to InvestingPro data, Gilead's stock has shown strong momentum, with a 21.13% price total return over the past three months and an impressive 43.75% return over the last six months. This upward trend aligns with the timing of Bluestone's decision to exercise options and sell shares.
The company's financial health appears robust, with a market capitalization of $115.4 billion and a revenue of $28.3 billion over the last twelve months as of Q3 2024. Gilead's profitability is evident, with a gross profit margin of 77.8% and an operating income margin of 39.53% for the same period.
InvestingPro Tips highlight that Gilead has raised its dividend for 10 consecutive years, demonstrating a commitment to shareholder returns. The current dividend yield stands at 3.33%, which may be attractive to income-focused investors. Additionally, 16 analysts have revised their earnings upwards for the upcoming period, suggesting positive expectations for the company's future performance.
For investors seeking more comprehensive analysis, InvestingPro offers 12 additional tips for Gilead Sciences, providing a deeper understanding of the company's position and potential.
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