Gilead Sciences (NASDAQ:GILD) Price Target Raised to $84.00

Gilead Sciences (NASDAQ:GILD) had its price target increased by stock analysts at The Goldman Sachs Group from $74.00 to $84.00 in a report issued on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the biopharmaceutical company’s stock. The Goldman Sachs Group’s price target indicates a potential downside of 13.19% from the stock’s current price.

A number of other equities research analysts have also recently weighed in on GILD. Evercore ISI upgraded Gilead Sciences to a “strong-buy” rating in a research note on Friday, August 9th. Wells Fargo & Company increased their price objective on shares of Gilead Sciences from $100.00 to $105.00 and gave the company an “overweight” rating in a research report on Thursday. Needham & Company LLC reaffirmed a “hold” rating on shares of Gilead Sciences in a report on Thursday. Piper Sandler increased their price target on shares of Gilead Sciences from $95.00 to $105.00 and gave the company an “overweight” rating in a report on Thursday. Finally, BMO Capital Markets raised their price objective on shares of Gilead Sciences from $85.00 to $94.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Eleven research analysts have rated the stock with a hold rating, eleven have given 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 an average price target of $88.71.

Gilead Sciences Stock Performance

NASDAQ GILD traded up $5.07 on Thursday, hitting $96.76. 6,401,537 shares of the stock were exchanged, compared to its average volume of 7,010,009. The company has a market capitalization of $120.47 billion, a PE ratio of 118.40, a P/E/G ratio of 3.13 and a beta of 0.17. 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 business’s fifty day moving average is $84.58 and its 200 day moving average is $74.67. Gilead Sciences has a 52 week low of $62.07 and a 52 week high of $98.31.

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

Insider Buying and Selling

In other Gilead Sciences news, insider Johanna Mercier sold 29,357 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $83.78, for a total value of $2,459,529.46. Following the transaction, the insider now directly owns 78,127 shares of the company’s stock, valued at $6,545,480.06. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Gilead Sciences news, 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 directly owns 78,127 shares in the company, valued at $6,545,480.06. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Merdad Parsey sold 2,000 shares of Gilead Sciences 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. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 36,847 shares of company stock valued at $3,033,340 over the last quarter. 0.29% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in Gilead Sciences by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 114,732,575 shares of the biopharmaceutical company’s stock worth $8,404,161,000 after purchasing an additional 2,910,147 shares in the last quarter. Swedbank AB bought a new stake in shares of Gilead Sciences during the first quarter worth $134,489,000. International Assets Investment Management LLC increased its holdings in shares of Gilead Sciences by 8,238.4% during the third quarter. International Assets Investment Management LLC now owns 1,642,504 shares of the biopharmaceutical company’s stock worth $137,708,000 after buying an additional 1,622,806 shares in the last quarter. Capital Research Global Investors lifted its stake in shares of Gilead Sciences by 2.7% in 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 last quarter. Finally, Pacer Advisors Inc. boosted its holdings in shares of Gilead Sciences by 24.7% during the 2nd quarter. Pacer Advisors Inc. now owns 7,889,663 shares of the biopharmaceutical company’s stock valued at $541,310,000 after acquiring an additional 1,564,792 shares in 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.