Gilead Sciences (NASDAQ:GILD) Price Target Raised to $90.00 at Royal Bank of Canada

Gilead Sciences (NASDAQ:GILD) had its target price upped by equities researchers at Royal Bank of Canada from $84.00 to $90.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has a “sector perform” rating on the biopharmaceutical company’s stock. Royal Bank of Canada’s target price suggests a potential downside of 12.94% from the stock’s current price.

GILD has been the topic of several other research reports. Cantor Fitzgerald reiterated a “neutral” rating and issued a $80.00 price target on shares of Gilead Sciences in a report on Wednesday, December 11th. Piper Sandler lifted their price target on shares of Gilead Sciences from $105.00 to $110.00 and gave the company an “overweight” rating in a research note on Wednesday. Robert W. Baird upped their price objective on Gilead Sciences from $80.00 to $95.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Barclays lifted their price target on shares of Gilead Sciences from $84.00 to $95.00 and gave the company an “equal weight” rating in a research note on Thursday, November 7th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Gilead Sciences in a research report on Wednesday. Eleven investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and four have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $101.04.

Gilead Sciences Stock Up 7.5 %

Shares of NASDAQ:GILD traded up $7.24 on Wednesday, reaching $103.38. The company had a trading volume of 7,478,520 shares, compared to its average volume of 6,991,980. The stock has a 50-day moving average price of $93.14 and a 200 day moving average price of $87.12. Gilead Sciences has a twelve month low of $62.07 and a twelve month high of $104.71. The company has a quick ratio of 1.10, a current ratio of 1.26 and a debt-to-equity ratio of 1.24. The stock has a market capitalization of $128.83 billion, a P/E ratio of 1,148.89, a P/E/G ratio of 1.25 and a beta of 0.18.

Gilead Sciences (NASDAQ:GILD) last released its earnings results on Tuesday, February 11th. The biopharmaceutical company reported $1.90 earnings per share 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 EPS for the current year.

Insiders Place Their Bets

In other news, insider Merdad Parsey sold 164,211 shares of Gilead Sciences 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 transaction, the insider now directly owns 80,801 shares of the company’s stock, valued at approximately $7,427,227.92. This trade represents a 67.02 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Andrew D. Dickinson sold 2,500 shares of the company’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $91.35, for a total value of $228,375.00. Following the sale, the chief financial officer now owns 129,873 shares in the company, valued at approximately $11,863,898.55. The trade was a 1.89 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 572,824 shares of company stock valued at $53,611,715 in the last 90 days. Corporate insiders own 0.16% of the company’s stock.

Hedge Funds Weigh In On Gilead Sciences

A number of institutional investors and hedge funds have recently modified their holdings of the business. Avior Wealth Management LLC boosted its holdings in shares of Gilead Sciences by 1.2% during the third quarter. Avior Wealth Management LLC now owns 9,422 shares of the biopharmaceutical company’s stock worth $782,000 after purchasing an additional 108 shares during the period. Southland Equity Partners LLC lifted its stake in shares of Gilead Sciences by 3.6% in the fourth quarter. Southland Equity Partners LLC now owns 3,128 shares of the biopharmaceutical company’s stock worth $289,000 after buying an additional 110 shares in the last quarter. Concord Asset Management LLC VA raised its stake in shares of Gilead Sciences by 3.8% in the third quarter. Concord Asset Management LLC VA now owns 3,056 shares of the biopharmaceutical company’s stock worth $256,000 after purchasing an additional 111 shares during the last quarter. Berkshire Bank lifted its stake in Gilead Sciences by 3.4% during the 4th quarter. Berkshire Bank now owns 3,398 shares of the biopharmaceutical company’s stock valued at $314,000 after acquiring an additional 111 shares during the period. Finally, CFO4Life Group LLC boosted its stake in shares of Gilead Sciences by 2.7% in the 4th quarter. CFO4Life Group LLC now owns 4,265 shares of the biopharmaceutical company’s stock worth $394,000 after buying an additional 112 shares during the last quarter. 83.67% of the stock is currently owned by 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.