Gilead to buy Kite Pharma for about $12 billion

New York Stock Exchange

Christy Curtis | 29 August, 2017, 01:23

The Williams Companies, Inc. About 20,210 shares traded. Amgen, Inc. (NASDAQ:AMGN) has risen 5.27% since August 28, 2016 and is uptrending. It has underperformed by 48.25% the S&P500. Gilead is making a big gamble, first of all that the US Food and Drug Administration (FDA) will fulfill its commitment to approve the product, even though the development plan it devised, together with the company, was very short and limited. The stock rose 2.34% or $1.73 reaching $75.52 per share. About 4.04M shares traded. Management will spend $11.9 billion to acquire Kite Pharma (NASDAQ: KITE), a promising clinical-stage drug company developing a new approach to kill cancer called CAR-T. It has underperformed by 38.50% the S&P500.

Since March 1, 2017, it had 0 buys, and 7 insider sales for $16.39 million activity. Gilead Sciences Inc now has $99.08 billion valuation. (NASDAQ:GILD) on Tuesday, July 25 with "Buy" rating. (NASDAQ:GILD) or 9,943 shares. More interesting news about Gilead Sciences, Inc. (NASDAQ:GILD). Moreover, Dubuque Financial Bank Tru Com has 0.02% invested in Gilead Sciences, Inc. Its up 0.09, from 1.13 in 2016Q3. Fifth Third Bank reported 172,153 shares. The Teewinot Capital Advisers Llc holds 229,161 shares with $2.34M value, down from 262,900 last quarter. Shareholders of record on Friday, September 15th will be given a dividend of $0.52 per share. Opus Point Partners Management Lc has invested 0.19% in Gilead Sciences, Inc. The total amount of shares outstanding is 1.31 billion, giving the company a market capitalization of about 96.66 billion. Dupont Capital accumulated 248,064 shares. $5.16 million worth of Gilead Sciences, Inc. (NASDAQ:GILD). Kelly Lawrence W Associates Ca owns 39,450 shares.

Gilead Sciences, Inc is a research-based biopharmaceutical company that discovers, develops and commercializes medicines in areas of unmet medical need. Spark Invest Limited Liability Co has invested 0.5% in Gilead Sciences, Inc. (NASDAQ:GILD). Capital Advsrs Ok owns 179,369 shares.

Among 19 analysts covering Kite Pharma (NASDAQ:KITE), 12 have Buy rating, 1 Sell and 6 Hold. Therefore 55% are positive. Unicredit S.p.A had 8 analyst reports since August 6, 2015 according to SRatingsIntel.

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The Wall Street Journal first reported the deal on Monday. (NASDAQ:GILD) has "Market Perform" rating given on Friday, December 4 by Wells Fargo. The company was initiated on Wednesday, September 9 by Jefferies. (NASDAQ:GILD) earned "Hold" rating by Needham on Tuesday, July 26. Piper Jaffray maintained the shares of GILD in report on Wednesday, February 3 with "Overweight" rating. (NASDAQ:GILD) earned "Hold" rating by Maxim Group on Friday, April 29. On Thursday, February 25 the stock rating was initiated by Citigroup with "Buy". On Monday, August 17 the stock rating was upgraded by Vetr to "Buy". (TASE: MORA) (which also bought shares on the market, and whose stake in the company is now worth over $100 million), The Phoenix Holdings Ltd.

Investors sentiment decreased to 0.82 in 2016 Q4. Its down 0.17, from 1.26 in 2016Q3. It fall, as 3 investors sold Mattersight Corp shares while 5 reduced holdings. 111 funds opened positions while 527 raised stakes. 125,600 are owned by Factory Mutual. Advantus Mgmt Incorporated owns 132,497 shares or 0.25% of their United States portfolio. Pinnacle Assocs invested 0.24% in Amgen, Inc. M&R Cap Mngmt Inc holds 0.15% or 7,634 shares in its portfolio. Netols Asset Inc holds 2.22% in MGIC Investment Corp.

The deal follows on the heels of the acquisition in July of drugmaker NeuroDerm to Japanese Pharma firm Mitsubishi Tanabe for $1.1 billion, said to be the largest ever purchase of an Israeli healthcare company. 118,540 were reported by Harvey Cap Mngmt. Princeton Alpha Lp reported 0.07% in Kite Pharma Inc (NASDAQ:KITE). Hodges Mgmt stated it has 41,254 shares or 0.14% of all its holdings. (NYSE:MTG) for 2.39M shares. Following the sale, the executive vice president now directly owns 137,488 shares of the company's stock, valued at approximately $10,174,112.

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Gilead to buy Kite Pharma for about $12 billion

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