Gilead Sciences (NASDAQ:GILD) Earns Sector Perform Rating from Royal Bank of Canada

Royal Bank of Canada restated their sector perform rating on shares of Gilead Sciences (NASDAQ:GILD) in a report released on Tuesday morning, Benzinga reports. Royal Bank of Canada currently has a $75.00 target price on the biopharmaceutical company’s stock.

Several other research analysts have also weighed in on the company. Leerink Partners raised Gilead Sciences from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $74.00 to $96.00 in a research report on Monday, October 21st. BMO Capital Markets increased their price objective on Gilead Sciences from $85.00 to $94.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Raymond James upgraded shares of Gilead Sciences from a “market perform” rating to an “outperform” rating and set a $93.00 target price for the company in a research note on Monday, July 8th. Cantor Fitzgerald restated a “neutral” rating and set a $70.00 price target on shares of Gilead Sciences in a research note on Monday, September 16th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $95.00 price objective on shares of Gilead Sciences in a report on Wednesday, September 11th. Ten investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Gilead Sciences currently has an average rating of “Moderate Buy” and a consensus target price of $86.85.

Gilead Sciences Price Performance

NASDAQ GILD opened at $88.08 on Tuesday. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.14 and a quick ratio of 0.95. The firm has a market capitalization of $109.73 billion, a price-to-earnings ratio of 244.67, a price-to-earnings-growth ratio of 3.07 and a beta of 0.18. The company has a 50 day simple moving average of $83.02 and a 200-day simple moving average of $73.76. Gilead Sciences has a 52-week low of $62.07 and a 52-week high of $89.74.

Gilead Sciences (NASDAQ:GILD) last released its earnings results on Thursday, August 8th. The biopharmaceutical company reported $2.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.61 by $0.40. The company had revenue of $6.95 billion during the quarter, compared to the consensus estimate of $6.64 billion. Gilead Sciences had a net margin of 3.79% and a return on equity of 29.34%. Equities research analysts predict that Gilead Sciences will post 3.76 earnings per share for the current fiscal year.

Insider Buying and Selling at Gilead Sciences

In other news, insider Johanna Mercier sold 29,357 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $83.78, for a total transaction of $2,459,529.46. Following the completion of the transaction, the insider now owns 78,127 shares of the company’s stock, valued at approximately $6,545,480.06. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 value of $167,660.00. Following the completion of 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 position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Johanna Mercier sold 29,357 shares of Gilead Sciences stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $83.78, for a total transaction of $2,459,529.46. Following the sale, the insider now owns 78,127 shares in the company, valued at approximately $6,545,480.06. 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 36,847 shares of company stock valued at $3,033,340 in the last ninety days. Company insiders own 0.16% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in GILD. Old North State Wealth Management LLC lifted its holdings in shares of Gilead Sciences by 2.7% during the third quarter. Old North State Wealth Management LLC now owns 57,889 shares of the biopharmaceutical company’s stock valued at $4,857,000 after acquiring an additional 1,498 shares during the period. BSW Wealth Partners lifted its holdings in Gilead Sciences by 11.6% during the 3rd quarter. BSW Wealth Partners now owns 5,713 shares of the biopharmaceutical company’s stock valued at $479,000 after purchasing an additional 594 shares during the last quarter. Van ECK Associates Corp boosted its position in Gilead Sciences by 0.4% in the third quarter. Van ECK Associates Corp now owns 6,342,831 shares of the biopharmaceutical company’s stock valued at $553,285,000 after buying an additional 22,847 shares in the last quarter. Harbor Capital Advisors Inc. grew its stake in Gilead Sciences by 2.6% during the third quarter. Harbor Capital Advisors Inc. now owns 27,005 shares of the biopharmaceutical company’s stock worth $2,264,000 after buying an additional 695 shares during the last quarter. Finally, Janney Montgomery Scott LLC increased its holdings in shares of Gilead Sciences by 0.7% during the third quarter. Janney Montgomery Scott LLC now owns 431,085 shares of the biopharmaceutical company’s stock worth $36,142,000 after buying an additional 2,787 shares in the last quarter. Institutional investors and hedge funds 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.