Gilead Sciences’ (GILD) “Hold” Rating Reaffirmed at Needham & Company LLC

Gilead Sciences (NASDAQ:GILD)‘s stock had its “hold” rating restated by stock analysts at Needham & Company LLC in a research report issued on Thursday,Benzinga reports.

Several other research firms have also recently commented on GILD. Truist Financial raised their target price on shares of Gilead Sciences from $82.00 to $83.00 and gave the company a “hold” rating in a research note on Thursday, August 15th. Leerink Partnrs raised Gilead Sciences from a “hold” rating to a “strong-buy” rating in a report on Monday, October 21st. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $70.00 price target on shares of Gilead Sciences in a research note on Monday, September 16th. Royal Bank of Canada reissued a “sector perform” rating and issued a $75.00 price objective on shares of Gilead Sciences in a research note on Tuesday, October 29th. Finally, BMO Capital Markets raised their target price on Gilead Sciences from $85.00 to $94.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Twelve equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Gilead Sciences has an average rating of “Moderate Buy” and an average price target of $90.71.

Gilead Sciences Price Performance

Shares of NASDAQ:GILD opened at $96.57 on Thursday. The company has a current ratio of 1.14, a quick ratio of 0.95 and a debt-to-equity ratio of 1.18. The firm’s 50 day moving average is $85.30 and its two-hundred day moving average is $75.03. The firm has a market capitalization of $120.22 billion, a P/E ratio of 117.76, a PEG ratio of 3.13 and a beta of 0.17. Gilead Sciences has a 52 week low of $62.07 and a 52 week high of $98.32.

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

Insider Transactions at Gilead Sciences

In related news, insider Merdad Parsey sold 2,000 shares of the stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $83.83, for a total value of $167,660.00. Following the transaction, the insider now owns 100,189 shares in the company, valued at approximately $8,398,843.87. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, insider Merdad Parsey sold 2,000 shares of the stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $83.83, for a total transaction of $167,660.00. Following the transaction, the insider now owns 100,189 shares in the company, valued at $8,398,843.87. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Johanna Mercier sold 29,357 shares of the company’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $83.78, for a total transaction of $2,459,529.46. Following the completion of the sale, the insider now owns 78,127 shares of the company’s stock, valued at $6,545,480.06. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 62,437 shares of company stock valued at $5,374,825 in the last three months. Corporate insiders own 0.29% of the company’s stock.

Institutional Investors Weigh In On Gilead Sciences

A number of large investors have recently added to or reduced their stakes in the stock. Manning & Napier Advisors LLC acquired a new position in Gilead Sciences in the 2nd quarter valued at $25,328,000. Legal & General Group Plc grew its position in shares of Gilead Sciences by 0.8% in the second quarter. Legal & General Group Plc now owns 12,414,268 shares of the biopharmaceutical company’s stock valued at $851,743,000 after purchasing an additional 93,068 shares during the last quarter. IRON Financial LLC acquired a new position in shares of Gilead Sciences during the 3rd quarter worth about $830,000. GSA Capital Partners LLP bought a new stake in Gilead Sciences during the 1st quarter valued at approximately $462,000. Finally, Wealth Enhancement Advisory Services LLC grew its holdings in Gilead Sciences by 13.1% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 286,116 shares of the biopharmaceutical company’s stock valued at $19,630,000 after buying an additional 33,162 shares during the last quarter. 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.