Gilead Sciences (NASDAQ:GILD) Price Target Raised to $123.00

Gilead Sciences (NASDAQ:GILD) had its price target increased by stock analysts at Morgan Stanley from $113.00 to $123.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the biopharmaceutical company’s stock. Morgan Stanley’s price target would suggest a potential upside of 27.94% from the company’s current price.

Other research analysts have also issued research reports about the stock. Piper Sandler upped their price objective on shares of Gilead Sciences from $95.00 to $105.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. The Goldman Sachs Group upped their price objective on shares of Gilead Sciences from $74.00 to $84.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Needham & Company LLC reaffirmed a “hold” rating on shares of Gilead Sciences in a research report on Thursday, November 7th. Leerink Partnrs raised shares of Gilead Sciences from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 21st. Finally, Bank of America reaffirmed a “buy” rating and set a $109.00 price objective on shares of Gilead Sciences in a research report on Tuesday, December 10th. Eleven investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and four have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Gilead Sciences has a consensus rating of “Moderate Buy” and an average target price of $98.83.

Gilead Sciences Stock Up 0.7 %

Gilead Sciences stock opened at $96.14 on Wednesday. The firm has a market cap of $119.82 billion, a price-to-earnings ratio of 1,068.22, a P/E/G ratio of 1.25 and a beta of 0.18. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.26 and a quick ratio of 1.10. Gilead Sciences has a fifty-two week low of $62.07 and a fifty-two week high of $100.51. The firm has a fifty day moving average price of $93.07 and a two-hundred day moving average price of $86.99.

Gilead Sciences (NASDAQ:GILD) last released its earnings results on Tuesday, February 11th. The biopharmaceutical company reported $1.90 earnings per share for the quarter, topping analysts’ consensus estimates of $1.67 by $0.23. Gilead Sciences had a net margin of 0.45% and a return on equity of 29.00%. As a group, analysts forecast that Gilead Sciences will post 4.35 earnings per share for the current year.

Insider Activity

In other news, insider Merdad Parsey sold 164,211 shares of the stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $91.92, for a total transaction of $15,094,275.12. Following the sale, the insider now directly owns 80,801 shares of the company’s stock, valued at $7,427,227.92. This represents a 67.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Jeffrey Bluestone sold 6,788 shares of the stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $91.39, for a total transaction of $620,355.32. Following the sale, the director now directly owns 8,920 shares in the company, valued at $815,198.80. This trade represents a 43.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 572,824 shares of company stock valued at $53,611,715 over the last three months. 0.16% of the stock is owned by insiders.

Hedge Funds Weigh In On Gilead Sciences

Several large investors have recently bought and sold shares of GILD. AMF Tjanstepension AB lifted its holdings in Gilead Sciences by 14.7% in the third quarter. AMF Tjanstepension AB now owns 400,819 shares of the biopharmaceutical company’s stock valued at $33,645,000 after buying an additional 51,390 shares during the period. Koshinski Asset Management Inc. raised its holdings in Gilead Sciences by 7.7% in the third quarter. Koshinski Asset Management Inc. now owns 3,615 shares of the biopharmaceutical company’s stock worth $303,000 after purchasing an additional 259 shares during the period. Sapient Capital LLC acquired a new stake in Gilead Sciences in the third quarter worth $213,000. CX Institutional raised its holdings in Gilead Sciences by 34.2% in the third quarter. CX Institutional now owns 60,987 shares of the biopharmaceutical company’s stock worth $5,113,000 after purchasing an additional 15,545 shares during the period. Finally, Wesbanco Bank Inc. raised its holdings in Gilead Sciences by 1.8% in the third quarter. Wesbanco Bank Inc. now owns 20,526 shares of the biopharmaceutical company’s stock worth $1,721,000 after purchasing an additional 364 shares during the period. 83.67% of the stock is currently owned by institutional investors and hedge funds.

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.