Piper Sandler Raises Gilead Sciences (NASDAQ:GILD) Price Target to $105.00

Gilead Sciences (NASDAQ:GILD) had its price target upped by Piper Sandler from $95.00 to $105.00 in a research note published on Thursday,Benzinga reports. They currently have an overweight rating on the biopharmaceutical company’s stock.

Several other equities research analysts have also commented on the company. Evercore ISI raised Gilead Sciences to a “strong-buy” rating in a research note on Friday, August 9th. Cantor Fitzgerald reissued a “neutral” rating and issued a $70.00 target price on shares of Gilead Sciences in a report on Monday, September 16th. Wells Fargo & Company raised shares of Gilead Sciences from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $78.00 to $100.00 in a research note on Monday, October 7th. Needham & Company LLC reiterated a “hold” rating on shares of Gilead Sciences in a report on Thursday. Finally, Leerink Partners upgraded shares of Gilead Sciences from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $74.00 to $96.00 in a research report on Monday, October 21st. Twelve equities research analysts have rated the stock with a hold rating, ten have given a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Gilead Sciences presently has a consensus rating of “Moderate Buy” and a consensus target price of $90.71.

Gilead Sciences Stock Performance

Gilead Sciences stock traded down $1.35 during mid-day trading on Thursday, reaching $96.55. 5,788,403 shares of the company were exchanged, compared to its average volume of 7,041,192. The firm has a market cap of $120.20 billion, a PE ratio of 118.29, a price-to-earnings-growth ratio of 3.13 and a beta of 0.17. 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 firm’s 50-day simple moving average is $84.58 and its two-hundred day simple moving average is $74.67. Gilead Sciences has a twelve month low of $62.07 and a twelve month high of $98.32.

Gilead Sciences (NASDAQ:GILD) last posted its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported $2.02 EPS for the quarter, beating the consensus estimate of $1.58 by $0.44. The business had revenue of $7.55 billion during the quarter, compared to analysts’ expectations of $7.01 billion. Gilead Sciences had a return on equity of 29.34% and a net margin of 3.79%. The company’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same period last year, the firm earned $2.29 EPS. Equities analysts predict that Gilead Sciences will post 3.75 earnings per share for the current fiscal year.

Gilead Sciences Announces Dividend

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

Insiders Place Their Bets

In other news, insider Merdad Parsey sold 25,590 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $91.50, for a total transaction of $2,341,485.00. Following the transaction, the insider now directly owns 99,599 shares in the company, valued at $9,113,308.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, insider Johanna Mercier sold 29,357 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $83.78, for a total value of $2,459,529.46. Following the sale, the insider now directly owns 78,127 shares in the company, valued at approximately $6,545,480.06. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Merdad Parsey sold 25,590 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $91.50, for a total value of $2,341,485.00. Following the completion of the sale, the insider now owns 99,599 shares in the company, valued at $9,113,308.50. This trade represents a 0.00 % decrease in their ownership of the stock. 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 quarter. 0.29% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Gilead Sciences

Several large investors have recently made changes to their positions in GILD. CarsonAllaria Wealth Management Ltd. grew its position in shares of Gilead Sciences by 198.3% during the 2nd quarter. CarsonAllaria Wealth Management Ltd. now owns 358 shares of the biopharmaceutical company’s stock worth $25,000 after buying an additional 238 shares during the period. nVerses Capital LLC bought a new stake in shares of Gilead Sciences during the 3rd quarter valued at $25,000. Valued Wealth Advisors LLC lifted its stake in shares of Gilead Sciences by 101.9% in the 3rd quarter. Valued Wealth Advisors LLC now owns 319 shares of the biopharmaceutical company’s stock valued at $27,000 after purchasing an additional 161 shares during the period. Cedar Wealth Management LLC boosted its position in shares of Gilead Sciences by 51.6% in the 2nd quarter. Cedar Wealth Management LLC now owns 470 shares of the biopharmaceutical company’s stock worth $32,000 after purchasing an additional 160 shares during the last quarter. Finally, Strategic Investment Solutions Inc. IL acquired a new stake in shares of Gilead Sciences during the second quarter worth $33,000. Institutional investors own 83.67% of the company’s stock.

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.