JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Gilead Sciences (NASDAQ:GILD) Stock

Gilead Sciences (NASDAQ:GILD) had its target price boosted by JPMorgan Chase & Co. from $100.00 to $105.00 in a report released on Thursday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the biopharmaceutical company’s stock.

Other analysts also recently issued reports about the stock. Leerink Partners raised shares of Gilead Sciences from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $74.00 to $96.00 in a research note on Monday, October 21st. BMO Capital Markets raised their price target on Gilead Sciences from $94.00 to $102.00 and gave the stock an “outperform” rating in a research report on Thursday. Cantor Fitzgerald boosted their price objective on Gilead Sciences from $70.00 to $80.00 and gave the company a “neutral” rating in a research report on Thursday. Piper Sandler raised their target price on shares of Gilead Sciences from $95.00 to $105.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, Wells Fargo & Company upped their price target on shares of Gilead Sciences from $100.00 to $105.00 and gave the company an “overweight” rating in a report on Thursday. Twelve analysts have rated the stock with a hold rating, ten have assigned a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $90.71.

Gilead Sciences Price Performance

GILD traded down $1.34 during trading on Thursday, reaching $96.57. The stock had a trading volume of 7,456,749 shares, compared to its average volume of 7,048,514. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.95 and a current ratio of 1.14. The business has a 50-day moving average of $85.30 and a 200-day moving average of $75.03. Gilead Sciences has a one year low of $62.07 and a one year high of $98.32. The stock has a market cap of $120.22 billion, a PE ratio of 117.76, a PEG ratio of 3.13 and a beta of 0.17.

Gilead Sciences (NASDAQ:GILD) last released its earnings results on Wednesday, November 6th. The biopharmaceutical company reported $2.02 earnings per share for the quarter, topping analysts’ consensus estimates of $1.58 by $0.44. The company had revenue of $7.55 billion during the quarter, compared to the consensus estimate of $7.01 billion. Gilead Sciences had a return on equity of 29.34% and a net margin of 3.79%. Gilead Sciences’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.29 EPS. As a group, equities research analysts anticipate that Gilead Sciences will post 3.75 EPS for the current fiscal year.

Gilead Sciences Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Friday, December 13th will be issued a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.19%. The ex-dividend date is Friday, December 13th. Gilead Sciences’s dividend payout ratio (DPR) is presently 375.61%.

Insider Buying and Selling

In related news, insider Johanna Mercier sold 5,490 shares of the business’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $73.98, for a total transaction of $406,150.20. Following the sale, the insider now owns 114,979 shares of the company’s stock, valued at $8,506,146.42. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, insider Johanna Mercier sold 5,490 shares of the stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $73.98, for a total value of $406,150.20. Following the sale, the insider now directly owns 114,979 shares of the company’s stock, valued at approximately $8,506,146.42. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Merdad Parsey sold 25,590 shares of Gilead Sciences stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $91.50, for a total value of $2,341,485.00. Following the completion of the transaction, the insider now directly owns 99,599 shares of the company’s stock, valued at approximately $9,113,308.50. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 62,437 shares of company stock worth $5,374,825 in the last three months. 0.29% of the stock is owned by corporate insiders.

Institutional Trading of Gilead Sciences

A number of institutional investors and hedge funds have recently modified their holdings of GILD. Avior Wealth Management LLC increased its holdings in Gilead Sciences by 1.2% in the 3rd quarter. Avior Wealth Management LLC now owns 9,422 shares of the biopharmaceutical company’s stock worth $782,000 after buying an additional 108 shares in the last quarter. Concord Asset Management LLC VA boosted its holdings in Gilead Sciences by 3.8% in the third quarter. Concord Asset Management LLC VA now owns 3,056 shares of the biopharmaceutical company’s stock worth $256,000 after purchasing an additional 111 shares during the last quarter. TFB Advisors LLC grew its position in Gilead Sciences by 1.2% in the 3rd quarter. TFB Advisors LLC now owns 9,397 shares of the biopharmaceutical company’s stock worth $788,000 after purchasing an additional 116 shares during the period. Sumitomo Life Insurance Co. raised its stake in Gilead Sciences by 0.7% during the 3rd quarter. Sumitomo Life Insurance Co. now owns 17,822 shares of the biopharmaceutical company’s stock valued at $1,494,000 after buying an additional 117 shares during the last quarter. Finally, FDx Advisors Inc. lifted its holdings in shares of Gilead Sciences by 2.2% during the 3rd quarter. FDx Advisors Inc. now owns 5,365 shares of the biopharmaceutical company’s stock valued at $450,000 after buying an additional 117 shares during the period. Institutional investors own 83.67% of the company’s stock.

About Gilead Sciences

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.