Gilead Sciences (NASDAQ:GILD) PT Lowered to $74.00

Gilead Sciences (NASDAQ:GILD) had its target price reduced by research analysts at Royal Bank of Canada from $76.00 to $74.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage presently has a “sector perform” rating on the biopharmaceutical company’s stock. Royal Bank of Canada’s price objective would suggest a potential upside of 13.12% from the stock’s previous close.

Several other analysts have also recently commented on GILD. Needham & Company LLC reissued a “hold” rating on shares of Gilead Sciences in a research note on Friday. Truist Financial lowered Gilead Sciences from a “buy” rating to a “hold” rating and decreased their price objective for the company from $91.00 to $82.00 in a research report on Thursday, February 22nd. StockNews.com lowered Gilead Sciences from a “strong-buy” rating to a “buy” rating in a research report on Friday, April 19th. Oppenheimer reaffirmed an “outperform” rating and set a $105.00 price target on shares of Gilead Sciences in a research report on Friday, April 19th. Finally, Barclays dropped their price objective on Gilead Sciences from $85.00 to $80.00 and set an “equal weight” rating on the stock in a research note on Monday, February 12th. Eleven investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Gilead Sciences currently has an average rating of “Hold” and a consensus price target of $83.87.

Gilead Sciences Stock Up 0.2 %

Gilead Sciences stock opened at $65.42 on Friday. The company has a market capitalization of $81.45 billion, a P/E ratio of 181.72, a P/E/G ratio of 1.17 and a beta of 0.19. Gilead Sciences has a 1-year low of $64.63 and a 1-year high of $87.86. The company has a current ratio of 1.43, a quick ratio of 1.27 and a debt-to-equity ratio of 1.08. The firm’s fifty day simple moving average is $71.28 and its 200-day simple moving average is $76.25.

Gilead Sciences (NASDAQ:GILD) last posted its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($1.32) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.49) by $0.17. Gilead Sciences had a net margin of 1.76% and a return on equity of 23.08%. The company had revenue of $6.69 billion for the quarter, compared to analyst estimates of $6.36 billion. During the same period last year, the business posted $1.37 EPS. The business’s quarterly revenue was up 5.3% on a year-over-year basis. Sell-side analysts forecast that Gilead Sciences will post 4.2 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Merdad Parsey sold 2,000 shares of the stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $72.96, for a total transaction of $145,920.00. Following the transaction, the insider now directly owns 96,304 shares in the company, valued at approximately $7,026,339.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.16% of the company’s stock.

Institutional Investors Weigh In On Gilead Sciences

Several institutional investors and hedge funds have recently bought and sold shares of GILD. Conning Inc. lifted its stake in shares of Gilead Sciences by 19.9% in the 1st quarter. Conning Inc. now owns 515,741 shares of the biopharmaceutical company’s stock valued at $37,704,000 after purchasing an additional 85,645 shares during the period. Harrington Investments INC grew its holdings in shares of Gilead Sciences by 4.9% in the first quarter. Harrington Investments INC now owns 21,867 shares of the biopharmaceutical company’s stock worth $1,602,000 after acquiring an additional 1,021 shares during the period. Advisors Management Group Inc. ADV grew its holdings in shares of Gilead Sciences by 2.2% in the first quarter. Advisors Management Group Inc. ADV now owns 33,805 shares of the biopharmaceutical company’s stock worth $2,476,000 after acquiring an additional 725 shares during the period. Mesirow Financial Investment Management Inc. bought a new stake in shares of Gilead Sciences in the first quarter worth $517,000. Finally, Verdence Capital Advisors LLC lifted its position in Gilead Sciences by 54.7% during the first quarter. Verdence Capital Advisors LLC now owns 20,509 shares of the biopharmaceutical company’s stock valued at $1,502,000 after purchasing an additional 7,249 shares in the last quarter. Hedge funds and other 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.