Gilead Sciences (NASDAQ:GILD) Price Target Raised to $120.00

Gilead Sciences (NASDAQ:GILD) had its target price upped by analysts at Wells Fargo & Company from $105.00 to $120.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the biopharmaceutical company’s stock. Wells Fargo & Company‘s price objective points to a potential upside of 13.25% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the company. Wolfe Research initiated coverage on Gilead Sciences in a research note on Friday, November 15th. They issued an “outperform” rating and a $110.00 price target for the company. Morgan Stanley increased their price target on Gilead Sciences from $113.00 to $123.00 and gave the company an “overweight” rating in a research note on Wednesday. Barclays increased their price target on Gilead Sciences from $84.00 to $95.00 and gave the company an “equal weight” rating in a research note on Thursday, November 7th. BMO Capital Markets increased their price target on Gilead Sciences from $94.00 to $102.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Finally, Truist Financial increased their price target on Gilead Sciences from $83.00 to $97.00 and gave the company a “hold” rating in a research note on Friday, November 8th. Eleven research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $101.33.

Gilead Sciences Price Performance

Gilead Sciences stock opened at $105.96 on Wednesday. The company has a current ratio of 1.26, a quick ratio of 1.10 and a debt-to-equity ratio of 1.24. The company has a market capitalization of $132.05 billion, a PE ratio of 1,177.33, a P/E/G ratio of 1.25 and a beta of 0.18. Gilead Sciences has a 12 month low of $62.07 and a 12 month high of $106.43. The stock has a 50-day moving average price of $93.38 and a two-hundred day moving average price of $87.24.

Gilead Sciences (NASDAQ:GILD) last posted its earnings results on Tuesday, February 11th. The biopharmaceutical company reported $1.90 EPS for the quarter, beating the consensus estimate of $1.67 by $0.23. Gilead Sciences had a return on equity of 29.00% and a net margin of 0.45%. Analysts expect that Gilead Sciences will post 4.35 EPS for the current year.

Insider Buying and Selling at Gilead Sciences

In other news, CFO Andrew D. Dickinson sold 2,500 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief financial officer now owns 129,873 shares in the company, valued at $11,863,898.55. This trade represents a 1.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Merdad Parsey sold 164,211 shares of the firm’s stock in a transaction that occurred on Wednesday, November 27th. The shares were 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 owns 80,801 shares in the company, valued at $7,427,227.92. This represents a 67.02 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 710,500 shares of company stock valued at $67,684,956. Company insiders own 0.16% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. State Street Corp lifted its holdings in shares of Gilead Sciences by 1.4% in the third quarter. State Street Corp now owns 60,171,691 shares of the biopharmaceutical company’s stock valued at $5,044,795,000 after purchasing an additional 841,776 shares in the last quarter. FMR LLC lifted its holdings in Gilead Sciences by 21.6% during the fourth quarter. FMR LLC now owns 40,319,432 shares of the biopharmaceutical company’s stock worth $3,724,306,000 after acquiring an additional 7,157,113 shares during the period. Wellington Management Group LLP lifted its holdings in Gilead Sciences by 3.1% during the fourth quarter. Wellington Management Group LLP now owns 35,659,007 shares of the biopharmaceutical company’s stock worth $3,293,822,000 after acquiring an additional 1,058,331 shares during the period. Geode Capital Management LLC lifted its holdings in Gilead Sciences by 2.7% during the fourth quarter. Geode Capital Management LLC now owns 28,289,917 shares of the biopharmaceutical company’s stock worth $2,608,337,000 after acquiring an additional 749,047 shares during the period. Finally, Norges Bank bought a new stake in Gilead Sciences during the fourth quarter worth $1,789,254,000. Institutional investors own 83.67% of the company’s stock.

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.