Gilead Sciences (NASDAQ:GILD) Price Target Raised to $110.00

Gilead Sciences (NASDAQ:GILD) had its price objective upped by research analysts at Piper Sandler from $105.00 to $110.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the biopharmaceutical company’s stock. Piper Sandler’s target price would indicate a potential upside of 5.42% from the company’s previous close.

Several other equities research analysts have also weighed in on the company. The Goldman Sachs Group increased their target price on Gilead Sciences from $74.00 to $84.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Robert W. Baird increased their price objective on shares of Gilead Sciences from $80.00 to $95.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Bank of America reiterated a “buy” rating and issued a $109.00 price objective on shares of Gilead Sciences in a research report on Tuesday, December 10th. Maxim Group lowered shares of Gilead Sciences from a “buy” rating to a “hold” rating in a research note on Friday, November 8th. Finally, Citigroup initiated coverage on Gilead Sciences in a report on Thursday, November 14th. They set a “buy” rating and a $125.00 price target on the stock. 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 stock. According to data from MarketBeat, Gilead Sciences has a consensus rating of “Moderate Buy” and a consensus price target of $99.04.

Gilead Sciences Trading Up 8.5 %

Gilead Sciences stock opened at $104.34 on Wednesday. Gilead Sciences has a 1 year low of $62.07 and a 1 year high of $100.51. The firm’s 50-day moving average is $93.14 and its 200-day moving average is $87.12. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.10 and a current ratio of 1.26. The company has a market cap of $130.04 billion, a P/E ratio of 1,149.46, a PEG ratio of 1.25 and a beta of 0.18.

Gilead Sciences (NASDAQ:GILD) last issued its earnings results on Tuesday, February 11th. The biopharmaceutical company reported $1.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.67 by $0.23. Gilead Sciences had a net margin of 0.45% and a return on equity of 29.00%. On average, equities analysts expect that Gilead Sciences will post 4.35 earnings per share for the current year.

Insider Buying and Selling at Gilead Sciences

In related news, insider Merdad Parsey sold 164,211 shares of the stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $91.92, for a total value of $15,094,275.12. Following the completion of the sale, the insider now directly owns 80,801 shares of the company’s stock, valued at approximately $7,427,227.92. This represents a 67.02 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Andrew D. Dickinson sold 248,645 shares of Gilead Sciences stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $92.76, for a total value of $23,064,310.20. Following the transaction, the chief financial officer now directly owns 138,919 shares in the company, valued at approximately $12,886,126.44. This trade represents a 64.16 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 572,824 shares of company stock valued at $53,611,715. 0.16% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. AMF Tjanstepension AB boosted its stake in shares of Gilead Sciences by 14.7% during the 3rd quarter. AMF Tjanstepension AB now owns 400,819 shares of the biopharmaceutical company’s stock valued at $33,645,000 after buying an additional 51,390 shares during the period. Koshinski Asset Management Inc. boosted its position in Gilead Sciences by 7.7% during the third quarter. Koshinski Asset Management Inc. now owns 3,615 shares of the biopharmaceutical company’s stock valued at $303,000 after purchasing an additional 259 shares during the last quarter. Sapient Capital LLC purchased a new position in Gilead Sciences in the third quarter valued at about $213,000. CX Institutional increased its position in Gilead Sciences by 34.2% in the 3rd quarter. CX Institutional now owns 60,987 shares of the biopharmaceutical company’s stock worth $5,113,000 after purchasing an additional 15,545 shares during the last quarter. Finally, Wesbanco Bank Inc. raised its stake in shares of Gilead Sciences by 1.8% during the 3rd quarter. Wesbanco Bank Inc. now owns 20,526 shares of the biopharmaceutical company’s stock worth $1,721,000 after purchasing an additional 364 shares in the last quarter. 83.67% of the stock is owned by hedge funds and other institutional investors.

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.