Gilead Sciences acquires Kite Pharma for $11.9-bn in cash

Bryan Strickland
August 31, 2017

The most recent non open market insider trade was completed by MEYERS JAMES R on 08/10/2017, and was a disposition of 820 shares with a final price of $0.

Kevin Young, Gilead's COO, pointed out that the Kite acquisition stands out from previous deals for Gilead because it was taking on "a phenomenal team". (NASDAQ:GILD) or 49,440 shares. Parametric Portfolio Associates Llc holds 0% or 18,377 shares. Morgan Advanced Materials PLC (LON:MGAM) has 0.00% since August 28, 2016 and is. Hartford Inc accumulated 140 shares. The EVP, Business Development disposed these shares by way of transaction on August 10, 2017. Gilead Sciences Inc Com now has $96.36 billion valuation. 1,400 shares valued at $97,300 were bought by Ruchefsky Steven B on Tuesday, May 9. Alton Gregg H also sold $337,392 worth of Gilead Sciences, Inc. (NASDAQ:GILD). Chilton Capital Mngmt Limited owns 0.63% invested in Gilead Sciences, Inc. 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. D E Shaw And, New York-based fund reported 10,282 shares. Peak Asset Mgmt Ltd Llc has invested 1.53% of its portfolio in Gilead Sciences, Inc. Kite jumped to $179.69, a price that represents the addition of about $8 billion in market value for the erstwhile small cap since the start of the year. (NASDAQ:GILD). Pitcairn has invested 0.12% of its portfolio in Gilead Sciences, Inc.

In other news, insider John C. Martin sold 73,333 shares of the firm's stock in a transaction that occurred on Monday, July 3rd.

Leavell Investment Management Inc decreased Gilead Sciences Inc Com (GILD) stake by 23.58% reported in 2016Q4 SEC filing. In the last 90 days, insiders have sold 266,299 shares of company stock worth $28,364,633. Gilead expects the acquisition to be neutral to earnings by year three and accretive thereafter. Bnp Paribas Arbitrage Sa who had been investing in Gilead Sciences Inc for a number of months, seems to be less bullish one the $98.55 billion market cap company. The stock decreased 4.43% or $0.014 on August 25, reaching $0.3.

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About 3.04M shares traded or 104.03% up from the average. It has underperformed by 38.50% the S&P500. The institutional investor owned 621,894 shares of the biopharmaceutical company's stock after buying an additional 292,671 shares during the period. It also increased its holding in Union Pacific Corporation (NYSE:UNP) by 146,407 shares in the quarter, for a total of 1.41 million shares, and has risen its stake in Bunge Limited (NYSE:BG).

Perhaps Monday's acquisition announcement from Gilead is just the first step in what could be a series of acquisitions that will enable it to build up its drug portfolio at a much faster pace.

Pharmaceutical company Gilead Sciences Inc. has announced that it will acquire United States company Kite Pharma Inc., developer of personalized cancer treatment drugs, at a company value of $11.9 billion. $5.01M worth of Gilead Sciences, Inc. Therefore 50% are positive. Cowen and Company reaffirmed an outperform rating on shares of Kite Pharma in a report on Tuesday, July 4th. Swiss National Bank increased its position in Gilead Sciences by 26.9% in the first quarter. The stock has "Hold" rating by Jefferies on Wednesday, September 9. Finally, Gabelli reissued a "buy" rating and issued a $85.00 target price on shares of Gilead Sciences in a research report on Wednesday, May 3rd. The firm has "Buy" rating given on Thursday, March 2 by Peel Hunt. The firm has "Sector Weight" rating given on Tuesday, July 28 by Pacific Crest. The rating was maintained by Keefe Bruyette & Woods with "Buy" on Monday, June 5. The rating was initiated by Oppenheimer with "Outperform" on Thursday, February 11. Pinnacle Assocs invested 0.24% in Amgen, Inc.

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