Gilead Sciences (NASDAQ:GILD) Price Target Raised to $97.00 at Truist Financial

Gilead Sciences (NASDAQ:GILD) had its price objective hoisted by equities researchers at Truist Financial from $83.00 to $97.00 in a report issued on Friday,Benzinga reports. The firm currently has a “hold” rating on the biopharmaceutical company’s stock.

A number of other equities analysts have also issued reports on GILD. JPMorgan Chase & Co. upped their target price on Gilead Sciences from $100.00 to $105.00 and gave the company an “overweight” rating in a research report on Thursday. Sanford C. Bernstein started coverage on Gilead Sciences in a research report on Thursday, October 17th. They issued an “outperform” rating and a $105.00 target price on the stock. Leerink Partners raised Gilead Sciences from a “market perform” rating to an “outperform” rating and upped their target price for the company from $74.00 to $96.00 in a research report on Monday, October 21st. Oppenheimer upped their price target on Gilead Sciences from $95.00 to $105.00 and gave the company an “outperform” rating in a research report on Thursday. Finally, Robert W. Baird upped their price target on Gilead Sciences from $80.00 to $95.00 and gave the company a “neutral” rating in a research report on Thursday. Twelve equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $90.71.

Gilead Sciences Stock Down 0.9 %

NASDAQ GILD opened at $97.00 on Friday. The stock has a market cap of $120.76 billion, a PE ratio of 118.29, a P/E/G ratio of 3.13 and a beta of 0.17. Gilead Sciences has a fifty-two week low of $62.07 and a fifty-two week high of $98.32. The business has a 50 day moving average price of $84.58 and a two-hundred day moving average price of $74.67. The company has a quick ratio of 0.95, a current ratio of 1.14 and a debt-to-equity ratio of 1.18.

Gilead Sciences (NASDAQ:GILD) last announced its earnings results on Wednesday, November 6th. The biopharmaceutical company reported $2.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.58 by $0.44. Gilead Sciences had a return on equity of 29.34% and a net margin of 3.79%. The company had revenue of $7.55 billion for the quarter, compared to analyst estimates of $7.01 billion. During the same period in the prior year, the company posted $2.29 EPS. Gilead Sciences’s quarterly revenue was up 7.0% on a year-over-year basis. As a group, sell-side analysts predict that Gilead Sciences will post 3.75 EPS for the current fiscal year.

Insider Transactions at Gilead Sciences

In other news, insider Merdad Parsey sold 25,590 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $91.50, for a total value of $2,341,485.00. Following the completion of the transaction, the insider now owns 99,599 shares of the company’s stock, valued at approximately $9,113,308.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, insider Merdad Parsey sold 25,590 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $91.50, for a total value of $2,341,485.00. Following the completion of the transaction, the insider now owns 99,599 shares of the company’s stock, valued at approximately $9,113,308.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Johanna Mercier sold 29,357 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $83.78, for a total value of $2,459,529.46. Following the transaction, the insider now directly owns 78,127 shares of the company’s stock, valued at $6,545,480.06. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 62,437 shares of company stock valued at $5,374,825. 0.29% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Gilead Sciences by 2.6% during the first quarter. Vanguard Group Inc. now owns 114,732,575 shares of the biopharmaceutical company’s stock valued at $8,404,161,000 after buying an additional 2,910,147 shares in the last quarter. Capital World Investors boosted its stake in Gilead Sciences by 1.4% during the first quarter. Capital World Investors now owns 84,497,404 shares of the biopharmaceutical company’s stock valued at $6,189,435,000 after buying an additional 1,133,281 shares in the last quarter. Capital Research Global Investors boosted its stake in Gilead Sciences by 2.7% during the first quarter. Capital Research Global Investors now owns 61,246,366 shares of the biopharmaceutical company’s stock valued at $4,486,296,000 after buying an additional 1,589,240 shares in the last quarter. Legal & General Group Plc boosted its stake in Gilead Sciences by 0.8% during the second quarter. Legal & General Group Plc now owns 12,414,268 shares of the biopharmaceutical company’s stock valued at $851,743,000 after buying an additional 93,068 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Gilead Sciences by 2.6% during the second quarter. Dimensional Fund Advisors LP now owns 10,412,413 shares of the biopharmaceutical company’s stock valued at $714,421,000 after purchasing an additional 268,208 shares during the last quarter. Institutional investors own 83.67% of the company’s stock.

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.