Gilead Sciences (NASDAQ:GILD) Sets New 52-Week High – Here’s Why

Gilead Sciences, Inc. (NASDAQ:GILD)’s stock price reached a new 52-week high on Monday . The company traded as high as $90.39 and last traded at $90.39, with a volume of 889916 shares. The stock had previously closed at $89.51.

Wall Street Analyst Weigh In

A number of analysts have recently commented on GILD shares. Truist Financial boosted their target price on shares of Gilead Sciences from $82.00 to $83.00 and gave the stock a “hold” rating in a research note on Thursday, August 15th. Cantor Fitzgerald reissued a “neutral” rating and set a $70.00 target price on shares of Gilead Sciences in a report on Monday, September 16th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $75.00 price target on shares of Gilead Sciences in a research note on Tuesday, October 29th. Leerink Partnrs raised Gilead Sciences from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 21st. Finally, JPMorgan Chase & Co. lifted their target price on shares of Gilead Sciences from $95.00 to $100.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 9th. Ten research analysts have rated the stock with a hold rating, eleven have issued a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Gilead Sciences currently has an average rating of “Moderate Buy” and an average target price of $86.85.

Gilead Sciences Stock Up 1.0 %

The firm has a 50-day moving average of $83.79 and a two-hundred day moving average of $74.21. The company has a quick ratio of 0.95, a current ratio of 1.14 and a debt-to-equity ratio of 1.18. The company has a market capitalization of $112.53 billion, a PE ratio of 109.16, a price-to-earnings-growth ratio of 3.09 and a beta of 0.17.

Gilead Sciences (NASDAQ:GILD) last released its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported $2.01 earnings per share for the quarter, topping analysts’ consensus estimates of $1.61 by $0.40. The business had revenue of $6.95 billion during the quarter, compared to analysts’ expectations of $6.64 billion. Gilead Sciences had a return on equity of 29.34% and a net margin of 3.79%. Equities research analysts predict that Gilead Sciences, Inc. will post 3.75 earnings per share for the current fiscal year.

Insider Buying and Selling at Gilead Sciences

In other Gilead Sciences news, insider Johanna Mercier sold 29,357 shares of the company’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $83.78, for a total transaction of $2,459,529.46. Following the transaction, the insider now directly owns 78,127 shares in the company, valued at $6,545,480.06. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Gilead Sciences news, insider Johanna Mercier sold 29,357 shares of Gilead Sciences stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $83.78, for a total value of $2,459,529.46. Following the completion of the transaction, the insider now directly owns 78,127 shares of the company’s stock, valued at $6,545,480.06. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Merdad Parsey sold 2,000 shares of the business’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $83.83, for a total transaction of $167,660.00. Following the sale, the insider now owns 100,189 shares in the company, valued at $8,398,843.87. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 36,847 shares of company stock worth $3,033,340 over the last three months. Insiders own 0.16% of the company’s stock.

Hedge Funds Weigh In On Gilead Sciences

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Tyler Stone Wealth Management raised its position in Gilead Sciences by 114.5% in the 3rd quarter. Tyler Stone Wealth Management now owns 6,103 shares of the biopharmaceutical company’s stock valued at $512,000 after purchasing an additional 3,258 shares in the last quarter. Legacy Capital Wealth Partners LLC acquired a new stake in Gilead Sciences in the third quarter valued at approximately $245,000. Alan B Lancz & Associates Inc. raised its holdings in Gilead Sciences by 4.7% in the third quarter. Alan B Lancz & Associates Inc. now owns 11,090 shares of the biopharmaceutical company’s stock valued at $930,000 after acquiring an additional 500 shares in the last quarter. Sigma Planning Corp lifted its stake in Gilead Sciences by 1.6% in the third quarter. Sigma Planning Corp now owns 44,594 shares of the biopharmaceutical company’s stock worth $3,739,000 after acquiring an additional 693 shares during the last quarter. Finally, Kerusso Capital Management LLC increased its position in shares of Gilead Sciences by 6.4% in the 3rd quarter. Kerusso Capital Management LLC now owns 34,333 shares of the biopharmaceutical company’s stock valued at $2,878,000 after purchasing an additional 2,068 shares during the last quarter. Hedge funds and other 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.