Gilead Sciences (NASDAQ:GILD) Price Target Raised to $120.00

Gilead Sciences (NASDAQ:GILD) had its price objective increased by equities researchers at Wells Fargo & Company from $105.00 to $120.00 in a report issued on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the biopharmaceutical company’s stock. Wells Fargo & Company‘s price target indicates a potential upside of 15.29% from the company’s previous close.

Other equities analysts have also issued reports about the company. The Goldman Sachs Group raised their target price on Gilead Sciences from $74.00 to $84.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Leerink Partnrs upgraded Gilead Sciences from a “hold” rating to a “strong-buy” rating in a report on Monday, October 21st. Mizuho lifted their price objective on Gilead Sciences from $90.00 to $100.00 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. Sanford C. Bernstein initiated coverage on Gilead Sciences in a report on Thursday, October 17th. They issued an “outperform” rating and a $105.00 target price on the stock. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Gilead Sciences in a report on Wednesday. Eleven equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $99.70.

Gilead Sciences Stock Up 8.3 %

NASDAQ:GILD traded up $7.95 on Wednesday, hitting $104.09. 4,736,709 shares of the company’s stock traded hands, compared to its average volume of 6,879,854. The firm has a 50-day moving average price of $93.14 and a 200-day moving average price of $87.12. Gilead Sciences has a 1 year low of $62.07 and a 1 year high of $104.71. The company has a market cap of $129.72 billion, a PE ratio of 1,153.78, a price-to-earnings-growth ratio of 1.25 and a beta of 0.18. The company has a current ratio of 1.26, a quick ratio of 1.10 and a debt-to-equity ratio of 1.24.

Gilead Sciences (NASDAQ:GILD) last released its quarterly earnings data on Tuesday, February 11th. The biopharmaceutical company reported $1.90 EPS for the quarter, topping analysts’ consensus estimates of $1.67 by $0.23. Gilead Sciences had a return on equity of 29.00% and a net margin of 0.45%. Equities analysts anticipate that Gilead Sciences will post 4.35 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Andrew D. Dickinson sold 142,180 shares of the company’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $97.22, for a total transaction of $13,822,739.60. Following the completion of the transaction, the chief financial officer now directly owns 129,873 shares of the company’s stock, valued at $12,626,253.06. This represents a 52.26 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jeffrey Bluestone sold 6,788 shares of the firm’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $91.39, for a total transaction of $620,355.32. Following the transaction, the director now directly owns 8,920 shares of the company’s stock, valued at $815,198.80. This represents a 43.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 572,824 shares of company stock worth $53,611,715. Company insiders own 0.16% of the company’s stock.

Institutional Trading of Gilead Sciences

Hedge funds have recently made changes to their positions in the business. HHM Wealth Advisors LLC grew its stake in shares of Gilead Sciences by 118.5% in the fourth quarter. HHM Wealth Advisors LLC now owns 284 shares of the biopharmaceutical company’s stock valued at $26,000 after acquiring an additional 154 shares in the last quarter. nVerses Capital LLC acquired a new position in Gilead Sciences in the 3rd quarter valued at $25,000. YANKCOM Partnership bought a new stake in shares of Gilead Sciences during the 4th quarter valued at $28,000. Decker Retirement Planning Inc. acquired a new stake in shares of Gilead Sciences during the 4th quarter worth $29,000. Finally, Valued Wealth Advisors LLC increased its position in shares of Gilead Sciences by 101.9% in the third quarter. Valued Wealth Advisors LLC now owns 319 shares of the biopharmaceutical company’s stock worth $27,000 after purchasing an additional 161 shares during the period. 83.67% of the stock is owned by institutional investors and hedge funds.

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.