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Gilead just bought a cancer-immunotherapy company for $12 billion
31 August 2017, 01:44 | Rodolfo Quinn
The CAR-T production line at Kite's factory in El Segundo Calif. Kite Pharma
With 40,800 avg volume, 24 days are for Mattersight Corporation (NASDAQ:MATR)'s short sellers to cover MATR's short positions. Vanguard Grp owns 3.15M shares. (PM) has risen 16.65% since August 28, 2016 and is uptrending. It has underperformed by 46.26% the S&P500.
In reaction to the dealnews, which was originally reported by the Wall Street Journal and has since then been confirmed by the companies, shares of Kite Pharma were soaring 28.68 percent to $179. Therefore 55% are positive.
Among biotechs, a group not exactly known for restrained valuations, Kite was already trading higher than any peer relative to analyst price forecasts - $27 higher - as of Friday. $83.86's average target is -52.97% below currents $178.31 stock price. Kite has completed its US commercial launch and manufacturing preparations, according to Gilead officials, and is building a similar infrastructure in Europe for initial launch. The rating was initiated by Oppenheimer with "Outperform" on Thursday, February 11. The stock has "Buy" rating by William Blair on Wednesday, June 14. Pinnacle Associates Limited reported 0.14% of its portfolio in Kite Pharma Inc (NASDAQ:KITE). The stock of Philip Morris International Inc. The firm has "Buy" rating given on Thursday, March 2 by Peel Hunt.
IXYS stock surged 36.4% to $21.75. Barclays Capital maintained it with "Equal-Weight" rating and $60 target in Tuesday, August 9 report. (NASDAQ:GILD) earned "Overweight" rating by Piper Jaffray on Wednesday, February 3. Balyasny Asset Management LLC expanded its holdings by buying 166,100 shares an increase of 4,259.0% from 03/31/2017 to 06/30/2017. Weingarten Realty (NYSE:WRI) was raised too. Finally, Cowen and Company reissued an outperform rating on shares of Kite Pharma in a report on Tuesday, July 4th. The stock has "Hold" rating by Maxim Group on Friday, April 29. Virginia Retirement Systems Et Al invested in 0.46% or 462,200 shares. The firm has "Hold" rating given on Wednesday, September 30 by Summit Research. Peel Hunt maintained Morgan Advanced Materials PLC (LON:MGAM) rating on Monday, November 7. The rating was maintained by Keefe Bruyette & Woods with "Buy" on Monday, June 5.
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Milligan added that with this deal, Gilead would lay the groundwork for a whole new set of products for decades to come. Cohen & Steers Inc who had been investing in Amgen Inc. for a number of months, seems to be less bullish one the $124.76 billion market cap company. It has a 25.55 P/E ratio. The Company's products for HIV/AIDS patients include Descovy, Odefsey, Genvoya, Stribild, Complera/Eviplera, Truvada, Emtriva, Tybost and Vitekta. Also, there are 1 buy, 0 sell and 1 strong sell ratings, collectively assigning a 2.18 average brokerage recommendation. Swiss National Bank increased its position in Gilead Sciences by 26.9% in the first quarter. (NASDAQ:GILD). Centurylink Mgmt holds 0.55% of its portfolio in Gilead Sciences, Inc. $668,667 worth of stock was sold by Cogan John Francis on Tuesday, May 9.
Investors sentiment increased to 0.91 in Q4 2016. Its down 0.23, from 0.93 in 2016Q3.
The acquisition of Kite would be Gilead's biggest purchase, surpassing its $11 billion deal for Pharmasset in 2011, according to Standard & Poor's Global Market Intelligence. 111 funds opened positions while 421 raised stakes. Capital Research holds 0.09% or 6.11 million shares in its portfolio. (NASDAQ:GILD). Integrated Wealth Counsel Ltd Liability reported 0.15% of its portfolio in Gilead Sciences, Inc. (NASDAQ:GILD). Princeton Port Strategies Gru Ltd invested in 19,933 shares. Comml Bank Of Hawaii invested 0.25% in Gilead Sciences, Inc. (NASDAQ:GILD). 29,141 are held by Cubic Asset Management Ltd Llc.
Examining Institutional Ownership at Gilead Sciences, Inc. (NASDAQ:GILD). Pitcairn has invested 0.12% of its portfolio in Gilead Sciences, Inc. GILD shares gained over 1.2% while KITE shares surged about 28% on the day, responding to the super deal. BMO Capital Markets upgraded Gilead Sciences, Inc.
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