Gilead Sciences (NASDAQ:GILD) PT Raised to $75.00 at Royal Bank of Canada

Gilead Sciences (NASDAQ:GILD) had its price target increased by research analysts at Royal Bank of Canada from $74.00 to $75.00 in a report issued on Friday, Benzinga reports. The firm presently has a “sector perform” rating on the biopharmaceutical company’s stock. Royal Bank of Canada’s price target would suggest a potential downside of 11.34% from the stock’s previous close.

Several other equities analysts also recently commented on the stock. Truist Financial upped their price target on shares of Gilead Sciences from $82.00 to $83.00 and gave the company a “hold” rating in a report on Thursday, August 15th. Robert W. Baird reiterated a “neutral” rating and issued a $80.00 target price on shares of Gilead Sciences in a research note on Thursday, June 20th. Cantor Fitzgerald reissued a “neutral” rating and set a $70.00 target price on shares of Gilead Sciences in a research note on Monday, September 16th. Raymond James raised shares of Gilead Sciences from a “market perform” rating to an “outperform” rating and set a $93.00 price target on the stock in a research note on Monday, July 8th. Finally, Piper Sandler reissued an “overweight” rating and issued a $95.00 price objective on shares of Gilead Sciences in a research report on Wednesday, September 11th. Twelve investment analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $82.12.

Gilead Sciences Stock Up 0.5 %

Shares of NASDAQ GILD opened at $84.59 on Friday. The company has a current ratio of 1.14, a quick ratio of 0.95 and a debt-to-equity ratio of 1.18. Gilead Sciences has a 12-month low of $62.07 and a 12-month high of $87.86. The firm’s 50-day moving average price is $79.06 and its 200-day moving average price is $71.91. The stock has a market capitalization of $105.39 billion, a price-to-earnings ratio of 234.97, a P/E/G ratio of 2.91 and a beta of 0.18.

Gilead Sciences (NASDAQ:GILD) last announced its earnings results on Thursday, August 8th. The biopharmaceutical company reported $2.01 EPS for the quarter, topping analysts’ consensus estimates of $1.61 by $0.40. The firm 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%. On average, equities research analysts anticipate that Gilead Sciences will post 3.78 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Merdad Parsey sold 2,000 shares of the stock in a transaction on 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 sale, the insider now owns 100,189 shares in the company, valued at approximately $8,398,843.87. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, insider Merdad Parsey sold 2,000 shares of the stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $83.83, for a total value of $167,660.00. Following the completion of the transaction, the insider now directly owns 100,189 shares of the company’s stock, valued at $8,398,843.87. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Johanna Mercier sold 5,490 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $73.98, for a total transaction of $406,150.20. Following the sale, the insider now directly owns 114,979 shares in the company, valued at approximately $8,506,146.42. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 36,847 shares of company stock valued at $3,033,340. 0.16% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Gilead Sciences

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of Gilead Sciences by 2.6% during the first quarter. Vanguard Group Inc. now owns 114,732,575 shares of the biopharmaceutical company’s stock worth $8,404,161,000 after purchasing an additional 2,910,147 shares during the period. Wellington Management Group LLP lifted its stake in Gilead Sciences by 14.4% during the 4th quarter. Wellington Management Group LLP now owns 18,630,134 shares of the biopharmaceutical company’s stock valued at $1,509,227,000 after acquiring an additional 2,350,550 shares during the period. Swedbank AB purchased a new stake in shares of Gilead Sciences in the 1st quarter valued at $134,489,000. Capital Research Global Investors increased its stake in shares of Gilead Sciences by 2.7% in the first quarter. Capital Research Global Investors now owns 61,246,366 shares of the biopharmaceutical company’s stock worth $4,486,296,000 after acquiring an additional 1,589,240 shares during the period. Finally, Pacer Advisors Inc. raised its holdings in shares of Gilead Sciences by 24.7% during the second quarter. Pacer Advisors Inc. now owns 7,889,663 shares of the biopharmaceutical company’s stock worth $541,310,000 after purchasing an additional 1,564,792 shares during the last quarter. Hedge funds and other 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.