Gilead Delivers Blowout Quarter, Updates Outlook; Shares Dip 1.3%

Shares of biopharmaceutical firm Gilead Sciences (GILD) lost 1.3% in after-hours trading on Thursday despite robust second-quarter 2021 financial results. Headquartered in California, Gilead develops antiviral drugs for the treatment Read More... The post Gilead Delivers Blowout Quarter, Updates Outlook; Shares Dip 1.3% appeared first on TipRanks Financial Blog.

Gilead Delivers Blowout Quarter, Updates Outlook; Shares Dip 1.3%

Shares of biopharmaceutical firm Gilead Sciences (GILD) lost 1.3% in after-hours trading on Thursday despite robust second-quarter 2021 financial results. Headquartered in California, Gilead develops antiviral drugs for the treatment of influenza, hepatitis C, hepatitis B and HIV.

Adjusted earnings per share (EPS) grew 68% year-over-year to $1.87, beating the Street’s estimate of $1.73. Quarterly revenue increased 21% to $6.2 billion, exceeding analysts’ expectations of $6.07 billion.

HIV product sales decreased 2% year-over-year to $3.9 billion; HCV (Hepatitis C virus) product sales rose 23% to $549 million; HBV (Hepatitis B virus) and HDV (Hepatitis delta virus) product sales climbed 8% to $237 million; Cell Therapy product sales surged 39% to $219 million; and other product sales were up 20% to $291 million.

The Chairman and CEO of Gilead, Daniel O’Day, said, “Our flagship HIV therapy, Biktarvy, saw continued growth and gains in market share, despite the ongoing impact of the pandemic.” (See Gilead stock chart on TipRanks)

Following the second-quarter results, Gilead updated its guidance for 2021 and now expects product sales to range between $24.4 billion and $25 billion, compared to the earlier projection of $23.7 billion to $25.1 billion. Adjusted EPS is likely to range from $6.90 to $7.25, compared to $6.75 to $7.45 previously projected.

On July 11, RBC Capital analyst Brian Abrahams maintained a Buy rating on the stock with a price target of $81 (16% upside potential). The analyst expects the company to report EPS of $1.38 in the third quarter.

Overall, the stock has a Strong Buy consensus based on 6 Buys and 2 Holds. The average Gilead Sciences price target of $79.25 implies 13.5% upside potential. Shares of the comoany have gained 16.2% year-to-date.

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The post Gilead Delivers Blowout Quarter, Updates Outlook; Shares Dip 1.3% appeared first on TipRanks Financial Blog.

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Why Did Mizuho Securities Downgrade Coinbase Global's Stock?

Coinbase Global (COIN – Research Report) received a Hold rating and a $210.00 price target from Mizuho Securities analyst Dan Dolev today. The company's shares closed last Thursday at $235.78, close to its 52-week low of $208.00. According to TipRanks.com, Dolev is ranked #672 out of 7609 analysts. Coinbase Global has an analyst consensus of Moderate Buy, with a price target consensus of $351.33. See today’s analyst top recommended stocks >> Based on the recent corporate insider activity of 66 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of COIN in relation to earlier this year. TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities. Coinbase Global Inc is a provider of end-to-end financial infrastructure and technology for the crypto-economy. It generates substantially all its net revenue from transaction fees from trades that occur on its platform. Geographically, it derives a vast majority of its revenues from the US followed by the rest of the world. Read More on COIN: Canaccord Genuity Remains a Buy on CI Financial (CIFAF) Amazon Delivers Mixed Q2 Results; Shares Fall 7% After-Hours Yum! Brands’ Shares Leap 6.1% on Stellar Q2 Results Schneider National Beats Q2 Expectations; Shares Jump Upwork Q2 Results Beat Estimates; Shares Fall 4.4% The post Why Did Mizuho Securities Downgrade Coinbase Global's Stock? appeared first on TipRanks Financial Blog.

Why Did Mizuho Securities Downgrade Coinbase Global's Stock?

Coinbase Global (COIN – Research Report) received a Hold rating and a $210.00 price target from Mizuho Securities analyst Dan Dolev today. The company's shares closed last Thursday at $235.78, close to its 52-week low of $208.00.

According to TipRanks.com, Dolev is ranked #672 out of 7609 analysts.

Coinbase Global has an analyst consensus of Moderate Buy, with a price target consensus of $351.33.

Based on the recent corporate insider activity of 66 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of COIN in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Coinbase Global Inc is a provider of end-to-end financial infrastructure and technology for the crypto-economy. It generates substantially all its net revenue from transaction fees from trades that occur on its platform. Geographically, it derives a vast majority of its revenues from the US followed by the rest of the world.

Read More on COIN:

  • Canaccord Genuity Remains a Buy on CI Financial (CIFAF)
  • Amazon Delivers Mixed Q2 Results; Shares Fall 7% After-Hours
  • Yum! Brands’ Shares Leap 6.1% on Stellar Q2 Results
  • Schneider National Beats Q2 Expectations; Shares Jump
  • Upwork Q2 Results Beat Estimates; Shares Fall 4.4%

The post Why Did Mizuho Securities Downgrade Coinbase Global's Stock? appeared first on TipRanks Financial Blog.

Source : Tip Ranks More   

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