Gilead Sciences (NASDAQ:GILD) Given New $126.00 Price Target at Bank of America

Gilead Sciences (NASDAQ:GILD) had its price objective boosted by analysts at Bank of America from $116.00 to $126.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the biopharmaceutical company’s stock. Bank of America‘s price objective would indicate a potential upside of 8.58% from the company’s previous close.

Several other analysts have also recently issued reports on the stock. Truist Financial upped their price target on shares of Gilead Sciences from $83.00 to $97.00 and gave the company a “hold” rating in a report on Friday, November 8th. Wolfe Research initiated coverage on Gilead Sciences in a research report on Friday, November 15th. They set an “outperform” rating and a $110.00 price objective for the company. DZ Bank raised shares of Gilead Sciences from a “hold” rating to a “buy” rating and set a $108.00 price objective on the stock in a research report on Thursday, February 13th. The Goldman Sachs Group boosted their price target on Gilead Sciences from $85.00 to $96.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 12th. Finally, Citigroup started coverage on shares of Gilead Sciences in a research report on Thursday, November 14th. They set a “buy” rating and a $125.00 target price for the company. Eleven research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and four have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $104.24.

Gilead Sciences Stock Performance

Shares of GILD stock opened at $116.04 on Wednesday. Gilead Sciences has a 12-month low of $62.07 and a 12-month high of $117.39. The company has a current ratio of 1.50, a quick ratio of 1.20 and a debt-to-equity ratio of 1.24. The stock has a 50 day simple moving average of $99.15 and a 200-day simple moving average of $91.09. The company has a market cap of $144.62 billion, a price-to-earnings ratio of 313.62, a price-to-earnings-growth ratio of 0.71 and a beta of 0.21.

Gilead Sciences (NASDAQ:GILD) last posted 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 31.63% and a net margin of 1.67%. On average, equities analysts forecast that Gilead Sciences will post 7.95 EPS for the current year.

Insider Activity at Gilead Sciences

In other news, CFO Andrew D. Dickinson sold 2,500 shares of Gilead Sciences stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $91.35, for a total value of $228,375.00. Following the completion of the sale, the chief financial officer now directly owns 129,873 shares of the company’s stock, valued at approximately $11,863,898.55. This trade represents a 1.89 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold a total of 293,356 shares of company stock valued at $29,166,240 over the last quarter. Corporate insiders own 0.16% of the company’s stock.

Hedge Funds Weigh In On Gilead Sciences

Several institutional investors have recently modified their holdings of GILD. Bellevue Group AG boosted its holdings in shares of Gilead Sciences by 18.2% in the third quarter. Bellevue Group AG now owns 46,027 shares of the biopharmaceutical company’s stock valued at $3,859,000 after buying an additional 7,093 shares during the period. Quantinno Capital Management LP increased its stake in shares of Gilead Sciences by 149.5% in the 3rd quarter. Quantinno Capital Management LP now owns 81,620 shares of the biopharmaceutical company’s stock valued at $6,843,000 after purchasing an additional 48,910 shares during the last quarter. McAdam LLC increased its holdings in Gilead Sciences by 16.7% in the 4th quarter. McAdam LLC now owns 25,372 shares of the biopharmaceutical company’s stock worth $2,344,000 after purchasing an additional 3,627 shares in the last quarter. Capital Investment Advisors LLC lifted its holdings in Gilead Sciences by 2.6% during the 4th quarter. Capital Investment Advisors LLC now owns 387,492 shares of the biopharmaceutical company’s stock worth $35,793,000 after buying an additional 9,791 shares during the period. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its stake in Gilead Sciences by 3.9% during the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 142,167 shares of the biopharmaceutical company’s stock worth $13,132,000 after purchasing an additional 5,382 shares during the period. 83.67% of the stock is currently 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.