Gilead Sciences’ (GILD) Sector Perform Rating Reaffirmed at Royal Bank of Canada

Royal Bank of Canada reissued their sector perform rating on shares of Gilead Sciences (NASDAQ:GILD) in a research note released on Tuesday morning, Benzinga reports. The brokerage currently has a $75.00 price objective on the biopharmaceutical company’s stock.

A number of other analysts have also recently weighed in on the company. Evercore ISI upgraded Gilead Sciences to a “strong-buy” rating in a research report on Friday, August 9th. Leerink Partners raised Gilead Sciences from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $74.00 to $96.00 in a research report on Monday, October 21st. Raymond James raised shares of Gilead Sciences from a “market perform” rating to an “outperform” rating and set a $93.00 price target for the company in a report on Monday, July 8th. Piper Sandler restated an “overweight” rating and set a $95.00 price target on shares of Gilead Sciences in a research report on Wednesday, September 11th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Gilead Sciences in a research report on Thursday, August 15th. Ten research analysts have rated the stock with a hold rating, eleven have given a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, Gilead Sciences currently has an average rating of “Moderate Buy” and a consensus price target of $86.85.

Gilead Sciences Stock Down 0.8 %

GILD stock opened at $88.08 on Tuesday. The firm has a market cap of $109.73 billion, a price-to-earnings ratio of 244.67, a PEG ratio of 3.07 and a beta of 0.18. Gilead Sciences has a 1-year low of $62.07 and a 1-year high of $89.74. The firm has a fifty day moving average price of $83.02 and a two-hundred day moving average price of $73.76. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.14 and a quick ratio of 0.95.

Gilead Sciences (NASDAQ:GILD) last announced its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported $2.01 earnings per share for the quarter, beating analysts’ consensus estimates of $1.61 by $0.40. The business had revenue of $6.95 billion during the quarter, compared to the consensus estimate of $6.64 billion. Gilead Sciences had a net margin of 3.79% and a return on equity of 29.34%. Research analysts predict that Gilead Sciences will post 3.76 EPS for the current year.

Insider Activity at Gilead Sciences

In other Gilead Sciences news, insider Johanna Mercier sold 5,490 shares of the business’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $73.98, for a total value 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. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Johanna Mercier sold 5,490 shares of Gilead Sciences stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $73.98, for a total value of $406,150.20. Following the transaction, the insider now owns 114,979 shares of the company’s stock, valued at $8,506,146.42. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, 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 transaction of $167,660.00. Following the sale, the insider now directly owns 100,189 shares of the company’s stock, valued at approximately $8,398,843.87. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 36,847 shares of company stock valued at $3,033,340 over the last 90 days. 0.16% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Gilead Sciences

Hedge funds have recently modified their holdings of the stock. Sumitomo Life Insurance Co. raised its holdings in Gilead Sciences by 0.7% during the 3rd quarter. Sumitomo Life Insurance Co. now owns 17,822 shares of the biopharmaceutical company’s stock worth $1,494,000 after buying an additional 117 shares during the period. Sivia Capital Partners LLC increased its position in shares of Gilead Sciences by 3.9% in the third quarter. Sivia Capital Partners LLC now owns 3,249 shares of the biopharmaceutical company’s stock worth $272,000 after acquiring an additional 123 shares in the last quarter. Roberts Wealth Advisors LLC raised its holdings in shares of Gilead Sciences by 1.9% during the third quarter. Roberts Wealth Advisors LLC now owns 7,035 shares of the biopharmaceutical company’s stock valued at $599,000 after acquiring an additional 130 shares during the period. Wagner Wealth Management LLC lifted its position in shares of Gilead Sciences by 1.7% in the 3rd quarter. Wagner Wealth Management LLC now owns 8,026 shares of the biopharmaceutical company’s stock valued at $673,000 after acquiring an additional 135 shares in the last quarter. Finally, Institute for Wealth Management LLC. boosted its stake in Gilead Sciences by 1.9% in the 2nd quarter. Institute for Wealth Management LLC. now owns 7,551 shares of the biopharmaceutical company’s stock worth $518,000 after purchasing an additional 142 shares during the period. 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.