Saturday, 23 September, 2017

Gilead Sciences, Inc. (GILD) Buying Kite Pharma For $11 Billion In Cash

Endpoints News Endpoints News
Jerome Frank | 31 August, 2017, 01:44

Gilead's rather rich buyout of Kite Pharma for what amounts to a 29% premium, however, suggests that the top players in the industry have faith in the power of this novel anti-cancer fighting platform. These shares are worth $1,810,800 and were traded at $120.72 each. Hanwha Q Cells Co Ltd -ADR (NASDAQ:HQCL) has declined 42.00% since August 28, 2016 and is downtrending.

Following successful completion of the tender offer, Gilead will acquire all remaining shares not tendered in the offer through a second-step merger at the same price as in the tender offer. Also, EVP Helen Susan Kim sold 79,949 shares of the business's stock in a transaction dated Tuesday, August 8th. For Q2 FY2017, the company reported revenues of just over $10 million compared with R&D costs of $71 million and a net loss of $110 million. Eqis Cap Mgmt Inc has invested 0.02% of its portfolio in Medidata Solutions Inc (NASDAQ:MDSO). It has underperformed by 38.50% the S&P500. Advisory Services Network, LLC added to its position by buying 550 shares an increase of 275.0% as of 06/30/2017.

Since May 8, 2017, it had 2 insider purchases, and 1 insider sale for $140,874 activity. 711,420 are held by Bridger Management Ltd Limited Liability Company. Therefore 40% are positive.

Among 19 analysts covering Kite Pharma (NASDAQ:KITE), 12 have Buy rating, 1 Sell and 6 Hold. (NASDAQ:GILD) rating on Tuesday, July 25. The stock of Kite Pharma Inc (NASDAQ:KITE) earned "Buy" rating by Stifel Nicolaus on Sunday, August 16. Jefferies Group LLC reaffirmed a buy rating and issued a $135.00 price objective (up from $121.00) on shares of Kite Pharma in a report on Wednesday, August 9th. As per Thursday, June 8, the company rating was upgraded by BTIG Research. The firm has "Hold" rating by Maxim Group given on Friday, April 29. The firm has "Outperform" rating given on Thursday, February 11 by Oppenheimer.

Investors sentiment increased to 1.5 in Q4 2016. It worsened, as 34 investors sold Kite Pharma Inc shares while 43 reduced holdings. 111 funds opened positions while 421 raised stakes. Lau Limited Co has invested 1.86% in Gilead Sciences, Inc. Goldman Sachs Grp Inc holds 0% of its portfolio in Tristate Capital Holdings Inc (NASDAQ:TSC) for 35,728 shares. (NASDAQ:GILD). Integrated Wealth Counsel Ltd Liability reported 0.15% of its portfolio in Gilead Sciences, Inc. The Kite acquisition signals an evolution in Gilead's thinking about CAR-T as pressure from investors grew to make a deal and some biotechs, including Kite, showed very effective results in trials. The Texas-based Smith Asset Mngmt L P has invested 0.01% in Kite Pharma Inc (NASDAQ:KITE). Blackrock Fund reported 49,262 shares. Howe And Rusling Inc invested 0% in Mattersight Corp (NASDAQ:MATR). 63,883 are held by Van Cleef Asset Managementinc.

Wendell David Associates Inc increased Disney Walt (NYSE:DIS) stake by 13,225 shares to 46,299 valued at $4.83M in 2016Q4. (NASDAQ:GILD). Pitcairn has invested 0.12% of its portfolio in Gilead Sciences, Inc. Oklahoma-based Bokf Na has invested 0.13% in Gilead Sciences, Inc. Oz Ltd Partnership stated it has 51,900 shares.

Gilead Sciences, Inc.is a research biopharmaceutical firm that discovers, develops and commercializes medicines in areas of unmet medical need. The insider MARTIN JOHN C sold $5.16 million. BUTITTA CYNTHIA M also sold $2.86M worth of Kite Pharma Inc (NASDAQ:KITE) shares. (NASDAQ:GILD) on Monday, November 14 with "Buy" rating.

Gilead Sciences (NASDAQ:GILD) last posted its quarterly earnings data on Wednesday, July 26th. As per Tuesday, June 27, the company rating was maintained by Canaccord Genuity. The stock of Gilead Sciences, Inc. (NASDAQ:GILD) for 22,473 shares. The firm has "Outperform" rating given on Wednesday, February 3 by RBC Capital Markets. Rhumbline Advisers reported 44,719 shares.

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