Gilead Sciences (NASDAQ:GILD) Price Target Lowered to $85.00 at TD Cowen

Gilead Sciences (NASDAQ:GILD) had its price objective reduced by equities research analysts at TD Cowen from $90.00 to $85.00 in a research note issued on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the biopharmaceutical company’s stock. TD Cowen’s price target would suggest a potential upside of 29.55% from the company’s current price.

Other equities analysts have also issued research reports about the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of Gilead Sciences in a research report on Friday. Wells Fargo & Company cut their price target on Gilead Sciences from $84.00 to $77.00 and set an “equal weight” rating for the company in a report on Monday, March 4th. Cantor Fitzgerald decreased their price target on shares of Gilead Sciences from $80.00 to $78.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 7th. Truist Financial cut shares of Gilead Sciences from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $91.00 to $82.00 in a research note on Thursday, February 22nd. Finally, Barclays reduced their target price on Gilead Sciences from $85.00 to $80.00 and set an “equal weight” rating on the stock in a report on Monday, February 12th. Eleven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $83.87.

Gilead Sciences Stock Up 0.5 %

Gilead Sciences stock traded up $0.34 during trading hours on Friday, hitting $65.61. The company had a trading volume of 7,562,287 shares, compared to its average volume of 7,415,929. Gilead Sciences has a fifty-two week low of $64.63 and a fifty-two week high of $87.86. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.43 and a quick ratio of 1.27. The firm has a market capitalization of $81.69 billion, a P/E ratio of 14.53, a price-to-earnings-growth ratio of 1.20 and a beta of 0.19. The firm’s fifty day moving average is $71.40 and its 200-day moving average is $76.32.

Gilead Sciences (NASDAQ:GILD) last posted its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($1.32) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.49) by $0.17. Gilead Sciences had a net margin of 20.89% and a return on equity of 38.85%. The business had revenue of $6.69 billion for the quarter, compared to the consensus estimate of $6.36 billion. During the same period in the prior year, the business posted $1.37 earnings per share. Gilead Sciences’s revenue for the quarter was up 5.3% compared to the same quarter last year. On average, research analysts forecast that Gilead Sciences will post 4.2 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Merdad Parsey sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $72.96, for a total transaction of $145,920.00. Following the completion of the transaction, the insider now directly owns 96,304 shares of the company’s stock, valued at approximately $7,026,339.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.16% of the stock is owned by corporate insiders.

Institutional Trading of Gilead Sciences

A number of hedge funds have recently made changes to their positions in the business. Strategic Blueprint LLC grew its stake in shares of Gilead Sciences by 8.1% in the third quarter. Strategic Blueprint LLC now owns 4,388 shares of the biopharmaceutical company’s stock valued at $329,000 after acquiring an additional 328 shares in the last quarter. Koshinski Asset Management Inc. lifted its position in Gilead Sciences by 5.1% during the third quarter. Koshinski Asset Management Inc. now owns 2,975 shares of the biopharmaceutical company’s stock worth $223,000 after purchasing an additional 145 shares during the period. Ballentine Partners LLC grew its stake in Gilead Sciences by 9.2% during the third quarter. Ballentine Partners LLC now owns 9,433 shares of the biopharmaceutical company’s stock worth $707,000 after buying an additional 794 shares in the last quarter. MCF Advisors LLC raised its position in shares of Gilead Sciences by 6.8% in the 3rd quarter. MCF Advisors LLC now owns 6,623 shares of the biopharmaceutical company’s stock valued at $496,000 after buying an additional 424 shares in the last quarter. Finally, Wendell David Associates Inc. lifted its holdings in shares of Gilead Sciences by 3.5% during the 3rd quarter. Wendell David Associates Inc. now owns 14,585 shares of the biopharmaceutical company’s stock worth $1,093,000 after acquiring an additional 500 shares during the period. 83.67% of the stock is owned by institutional investors and hedge funds.

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.