Cantor Fitzgerald Cuts Gilead Sciences (NASDAQ:GILD) Price Target to $70.00

Gilead Sciences (NASDAQ:GILD) had its price objective trimmed by Cantor Fitzgerald from $75.00 to $70.00 in a research note published on Monday morning, Benzinga reports. The firm currently has a neutral rating on the biopharmaceutical company’s stock. Cantor Fitzgerald also issued estimates for Gilead Sciences’ FY2024 earnings at $3.85 EPS.

A number of other brokerages also recently commented on GILD. StockNews.com upgraded shares of Gilead Sciences from a buy rating to a strong-buy rating in a report on Saturday, April 27th. Maxim Group reduced their price objective on shares of Gilead Sciences from $90.00 to $85.00 and set a buy rating for the company in a research note on Wednesday, May 1st. Needham & Company LLC restated a hold rating on shares of Gilead Sciences in a research note on Friday, April 26th. Oppenheimer reaffirmed an outperform rating and issued a $105.00 price target on shares of Gilead Sciences in a report on Friday, April 19th. Finally, Royal Bank of Canada reiterated a sector perform rating and set a $74.00 price objective on shares of Gilead Sciences in a report on Monday, July 1st. Twelve investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of Hold and an average price target of $81.81.

Gilead Sciences Price Performance

GILD stock opened at $73.50 on Monday. Gilead Sciences has a 12 month low of $62.07 and a 12 month high of $87.86. The company has a 50-day moving average price of $67.43 and a 200 day moving average price of $71.19. The stock has a market cap of $91.57 billion, a PE ratio of 204.17, a P/E/G ratio of 3.10 and a beta of 0.18. The company has a current ratio of 1.08, a quick ratio of 0.94 and a debt-to-equity ratio of 1.31.

Gilead Sciences (NASDAQ:GILD) last issued its earnings results on Thursday, April 25th. The biopharmaceutical company reported ($1.32) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.49) by $0.17. The firm had revenue of $6.69 billion during the quarter, compared to analyst estimates of $6.36 billion. Gilead Sciences had a net margin of 1.76% and a return on equity of 24.34%. The business’s revenue was up 5.3% on a year-over-year basis. During the same period in the previous year, the firm earned $1.37 earnings per share. Equities research analysts anticipate that Gilead Sciences will post 3.72 earnings per share for the current year.

Insider Activity

In other Gilead Sciences news, insider Merdad Parsey sold 2,000 shares of Gilead Sciences stock in a transaction on Monday, July 1st. The shares were sold at an average price of $68.63, for a total value of $137,260.00. Following the completion of the transaction, the insider now owns 96,380 shares of the company’s stock, valued at $6,614,559.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.16% of the company’s stock.

Hedge Funds Weigh In On Gilead Sciences

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Advisor Resource Council acquired a new stake in shares of Gilead Sciences in the 4th quarter worth $260,000. HB Wealth Management LLC raised its holdings in shares of Gilead Sciences by 16.9% in the 4th quarter. HB Wealth Management LLC now owns 18,583 shares of the biopharmaceutical company’s stock valued at $1,505,000 after purchasing an additional 2,689 shares in the last quarter. Cooper Financial Group purchased a new stake in Gilead Sciences during the 4th quarter worth about $246,000. Raymond James & Associates lifted its stake in Gilead Sciences by 6.8% during the fourth quarter. Raymond James & Associates now owns 2,483,440 shares of the biopharmaceutical company’s stock worth $201,183,000 after purchasing an additional 158,346 shares during the last quarter. Finally, CVA Family Office LLC purchased a new stake in shares of Gilead Sciences during the 4th quarter worth approximately $147,000. 83.67% of the stock is owned by hedge funds and other institutional investors.

Gilead Sciences Company Profile

Gilead Sciences, Inc, a biopharmaceutical company, discovers, develops, and commercializes medicines in the areas of unmet medical need in the United States, Europe, and internationally. The company provides Biktarvy, Genvoya, Descovy, Odefsey, Truvada, Complera/ Eviplera, Stribild, Sunlencs, and Atripla products for the treatment of HIV/AIDS; Veklury, an injection for intravenous use, for the treatment of COVID-19; and Epclusa, Harvoni, Vemlidy, and Viread for the treatment of viral hepatitis.