Gilead Sciences (NASDAQ:GILD) Price Target Raised to $97.00

Gilead Sciences (NASDAQ:GILD) had its price objective increased by analysts at Truist Financial from $83.00 to $97.00 in a report issued on Friday,Benzinga reports. The brokerage presently has a “hold” rating on the biopharmaceutical company’s stock. Truist Financial’s price objective points to a potential upside of 0.45% from the company’s current price.

Other research analysts also recently issued research reports about the stock. Robert W. Baird boosted their target price on shares of Gilead Sciences from $80.00 to $95.00 and gave the company a “neutral” rating in a research report on Thursday. Maxim Group lowered shares of Gilead Sciences from a “buy” rating to a “hold” rating in a report on Friday. Needham & Company LLC restated a “hold” rating on shares of Gilead Sciences in a research note on Thursday. Oppenheimer upped their price target on Gilead Sciences from $95.00 to $105.00 and gave the stock an “outperform” rating in a research note on Thursday. Finally, Leerink Partnrs upgraded Gilead Sciences from a “hold” rating to a “strong-buy” rating in a report on Monday, October 21st. Eleven research analysts have rated the stock with a hold rating, ten have given a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, Gilead Sciences has an average rating of “Moderate Buy” and a consensus price target of $91.50.

Gilead Sciences Price Performance

GILD stock opened at $96.57 on Friday. The company has a quick ratio of 0.95, a current ratio of 1.14 and a debt-to-equity ratio of 1.18. The company’s fifty day simple moving average is $85.30 and its 200 day simple moving average is $75.03. Gilead Sciences has a 12-month low of $62.07 and a 12-month high of $98.32. The firm has a market cap of $120.22 billion, a price-to-earnings ratio of 1,072.94, a PEG ratio of 3.19 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 EPS for the quarter, topping the consensus estimate of $1.58 by $0.44. Gilead Sciences had a return on equity of 28.60% and a net margin of 0.45%. The business had revenue of $7.55 billion during the quarter, compared to analysts’ expectations of $7.01 billion. During the same quarter last year, the firm posted $2.29 earnings per share. The firm’s revenue was up 7.0% on a year-over-year basis. On average, analysts expect that Gilead Sciences will post 3.76 earnings per share for the current year.

Insider Buying and Selling

In other Gilead Sciences news, insider Merdad Parsey sold 25,590 shares of the stock in a transaction dated 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 approximately $9,113,308.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, insider Johanna Mercier sold 29,357 shares of Gilead Sciences 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 sale, the insider now directly owns 78,127 shares in the company, valued at $6,545,480.06. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Merdad Parsey sold 25,590 shares of the stock in a transaction dated 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 owns 99,599 shares of the company’s stock, valued at approximately $9,113,308.50. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 62,437 shares of company stock worth $5,374,825. 0.16% of the stock is owned by insiders.

Institutional Trading of Gilead Sciences

Several hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in Gilead Sciences by 2.6% in the first quarter. Vanguard Group Inc. now owns 114,732,575 shares of the biopharmaceutical company’s stock worth $8,404,161,000 after buying an additional 2,910,147 shares during the last quarter. Capital World Investors grew its stake in Gilead Sciences by 1.4% in the 1st quarter. Capital World Investors now owns 84,497,404 shares of the biopharmaceutical company’s stock valued at $6,189,435,000 after buying an additional 1,133,281 shares in the last quarter. Capital Research Global Investors raised its holdings in Gilead Sciences by 2.7% during the 1st quarter. Capital Research Global Investors now owns 61,246,366 shares of the biopharmaceutical company’s stock valued at $4,486,296,000 after acquiring an additional 1,589,240 shares during the period. Legal & General Group Plc lifted its position in shares of Gilead Sciences by 0.8% during the second quarter. Legal & General Group Plc now owns 12,414,268 shares of the biopharmaceutical company’s stock worth $851,743,000 after acquiring an additional 93,068 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Gilead Sciences by 2.6% in the second quarter. Dimensional Fund Advisors LP now owns 10,412,413 shares of the biopharmaceutical company’s stock worth $714,421,000 after acquiring an additional 268,208 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.