Gilead to buy Kite for $12 billion

Brandon Parsons
August 31, 2017

The stock of Baidu Inc (ADR) (NASDAQ:BIDU) has "Neutral" rating given on Monday, October 31 by Macquarie Research. But Gilead stock was less enthusiastic, rising 2.3%, near 75.50. Parametric Port Llc holds 0.33% or 3.30 million shares in its portfolio. Gilead Sciences now has $98.58B valuation. Amalgamated Bank now owns 5,131 shares of the biopharmaceutical company's stock valued at $403,000 after buying an additional 317 shares during the period.

Milligan added that with this deal, Gilead would lay the groundwork for a whole new set of products for decades to come. Russell Investments Group Ltd. raised its position in shares of Kite Pharma by 72.9% in the first quarter.

According to sources familiar with the matter, Gilead Sciences, Inc. Alliancebernstein Ltd Partnership invested 0% of its portfolio in Kite Pharma Inc (NASDAQ:KITE). Amer Grp Inc Inc Inc has 22,533 shares for 0% of their portfolio. The company has a 50-day moving average price of $72.97 and a 200-day moving average price of $68.86. Bainco Intll Investors holds 8.77% of its portfolio in Kite Pharma Inc (NASDAQ:KITE) for 1.15 million shares. Finally, Cowen and Company reissued an outperform rating on shares of Kite Pharma in a report on Tuesday, July 4th. The company's revenue for the quarter was up 110.4% compared to the same quarter past year. Gilead Sciences had a return on equity of 66.07% and a net margin of 42.90%. Kite Pharma's revenue for the quarter was up 110.4% on a year-over-year basis. During the same period previous year, the company earned $3.08 EPS.

As of the latest earnings report the EPS was $-6.95 and is projected to be $-8.19 for the current year with 57,181,000 shares now outstanding.

The agreement - due to close in the fourth quarter - comes as the path to approval for CAR-T therapies is now looking clearer, with Novartis claiming a positive vote from an FDA advisory committee for its acute lymphoblastic leukemia (ALL) therapy tisagenlecleucel-T (CTL019). The ex-dividend date is Thursday, September 14th. BMO Capital Markets upgraded Gilead Sciences, Inc. $197,088 worth of Kite Pharma Inc (NASDAQ:KITE) was sold by Kim Helen Susan. 5,000 Gilead Sciences, Inc. "(GILD)" was originally published by BBNS and is owned by of BBNS. If you are reading this story on another website, it was copied illegally and reposted in violation of U.S. and global copyright & trademark legislation. The original version of this piece can be read at https://weekherald.com/2017/08/29/kite-pharma-inc-kite-downgraded-to-hold-at-suntrust-banks-inc.html. In the first quarter, Gilead had said it wanted to do a deal in cancer, and analysts suggested Kite, Incyte (INCY), Tesaro (TSRO) and Clovis Oncology (CLVS) could be on the list. Notis holds 0.7% of its portfolio in Gilead Sciences, Inc.

Kite's shares were halted in premarket trading on Monday, while Gilead's shares were up 2.7 percent. 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. If the $189.43 price target is reached, the company will be worth $613.20 million more. 21,118 shares were sold by BUTITTA CYNTHIA M, worth $1.71 million. The Chief Operating Officer now owns $12,119,928 of the stock according to the SEC filing. About 4.04M shares traded. Timothy L. Moore, EVP reported the sale of 6,000 shares. 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. The stock grabbed 41 new institutional investments totaling 2,170,255 shares while 28 institutional investors sold out their entire positions totaling 1,109,261 shares. The stock has "Buy" rating by William Blair on Wednesday, June 14.

Belldegrun earned his MD at the Hebrew University Hadassah Medical School in Jerusalem, did postgraduate studies in immunology at the Weizmann Institute of Science in Rehovot and was a urologic surgery resident at the Brigham and Women's Hospital and Harvard Medical School in Boston before founding his pioneering company using technology based on the research of Prof.

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