Gilead Sciences (NASDAQ:GILD) Price Target Raised to $96.00

Gilead Sciences (NASDAQ:GILD) had its price target upped by UBS Group from $70.00 to $96.00 in a report published on Thursday,Benzinga reports. The brokerage currently has a neutral rating on the biopharmaceutical company’s stock.

Other research analysts have also recently issued research reports about the stock. Needham & Company LLC reiterated a “hold” rating on shares of Gilead Sciences in a research report on Thursday, November 7th. Piper Sandler upped their price target on shares of Gilead Sciences from $95.00 to $105.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Daiwa America raised shares of Gilead Sciences to a “hold” rating in a research note on Monday, November 18th. Evercore ISI raised Gilead Sciences to a “strong-buy” rating in a research note on Friday, August 9th. Finally, Sanford C. Bernstein began coverage on Gilead Sciences in a research note on Thursday, October 17th. They set an “outperform” rating and a $105.00 price target for the company. Twelve analysts have rated the stock with a hold rating, eleven have issued a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat, Gilead Sciences has a consensus rating of “Moderate Buy” and a consensus price target of $95.41.

Gilead Sciences Stock Performance

Gilead Sciences stock opened at $90.19 on Thursday. The company’s 50-day moving average price is $87.43 and its 200-day moving average price is $76.86. 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 company has a market cap of $112.40 billion, a PE ratio of 1,002.11, a price-to-earnings-growth ratio of 2.78 and a beta of 0.17. Gilead Sciences has a twelve month low of $62.07 and a twelve month high of $98.90.

Gilead Sciences (NASDAQ:GILD) last issued its quarterly earnings data 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. The business had revenue of $7.55 billion for the quarter, compared to the consensus estimate of $7.01 billion. Gilead Sciences had a return on equity of 29.00% and a net margin of 0.45%. The company’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same period in the prior year, the business posted $2.29 earnings per share. On average, equities research analysts forecast that Gilead Sciences will post 4.38 EPS for the current fiscal year.

Gilead Sciences Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Friday, December 13th will be paid a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a yield of 3.42%. The ex-dividend date of this dividend is Friday, December 13th. Gilead Sciences’s dividend payout ratio (DPR) is 3,422.22%.

Insider Buying and Selling at Gilead Sciences

In related news, insider Johanna Mercier sold 29,357 shares of the firm’s stock in a transaction dated 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 sale, the insider now owns 78,127 shares of the company’s stock, valued at $6,545,480.06. This trade represents a 27.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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 completion of the transaction, the insider now owns 100,189 shares of the company’s stock, valued at $8,398,843.87. This represents a 1.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 56,947 shares of company stock valued at $4,968,674. 0.16% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Gilead Sciences

Several institutional investors and hedge funds have recently bought and sold shares of the company. CarsonAllaria Wealth Management Ltd. grew its stake in Gilead Sciences by 198.3% during the 2nd quarter. CarsonAllaria Wealth Management Ltd. now owns 358 shares of the biopharmaceutical company’s stock worth $25,000 after buying an additional 238 shares during the last quarter. nVerses Capital LLC acquired a new stake in Gilead Sciences in the third quarter worth about $25,000. Valued Wealth Advisors LLC grew its stake in shares of Gilead Sciences by 101.9% during the third quarter. Valued Wealth Advisors LLC now owns 319 shares of the biopharmaceutical company’s stock worth $27,000 after acquiring an additional 161 shares during the last quarter. Cedar Wealth Management LLC increased its holdings in shares of Gilead Sciences by 51.6% during the second quarter. Cedar Wealth Management LLC now owns 470 shares of the biopharmaceutical company’s stock valued at $32,000 after acquiring an additional 160 shares in the last quarter. Finally, Strategic Investment Solutions Inc. IL purchased a new position in shares of Gilead Sciences in the 2nd quarter valued at approximately $33,000. 83.67% of the stock is owned by hedge funds and other institutional investors.

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.