Wells Fargo & Company Forecasts Strong Price Appreciation for Gilead Sciences (NASDAQ:GILD) Stock

Gilead Sciences (NASDAQ:GILD) had its target price hoisted by research analysts at Wells Fargo & Company from $100.00 to $105.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the biopharmaceutical company’s stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 8.74% from the company’s current price.

Several other analysts have also weighed in on GILD. Truist Financial raised their price objective on shares of Gilead Sciences from $82.00 to $83.00 and gave the stock a “hold” rating in a report on Thursday, August 15th. Leerink Partners raised shares of Gilead Sciences from a “market perform” rating to an “outperform” rating and raised their price target for the company from $74.00 to $96.00 in a report on Monday, October 21st. Barclays raised their price target on shares of Gilead Sciences from $76.00 to $84.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. Leerink Partnrs raised shares of Gilead Sciences from a “hold” rating to a “strong-buy” rating in a report on Monday, October 21st. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $75.00 price target on shares of Gilead Sciences in a report on Tuesday, October 29th. Twelve investment analysts have rated the stock with a hold rating, ten have issued a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat, Gilead Sciences currently has an average rating of “Moderate Buy” and a consensus target price of $90.71.

Gilead Sciences Stock Performance

NASDAQ GILD opened at $96.57 on Thursday. The firm has a market cap of $120.22 billion, a price-to-earnings ratio of 1,072.94, a PEG ratio of 3.19 and a beta of 0.17. The company has a 50 day moving average of $85.30 and a 200-day moving average of $75.03. 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 1-year low of $62.07 and a 1-year high of $98.32.

Gilead Sciences (NASDAQ:GILD) last posted its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported $2.02 earnings per share for the quarter, topping the consensus estimate of $1.58 by $0.44. The company had revenue of $7.55 billion during the quarter, compared to analyst estimates of $7.01 billion. Gilead Sciences had a net margin of 0.45% and a return on equity of 28.60%. The company’s revenue was up 7.0% on a year-over-year basis. During the same quarter last year, the business posted $2.29 earnings per share. On average, equities analysts forecast that Gilead Sciences will post 3.76 earnings per share for the current fiscal year.

Insider Activity at Gilead Sciences

In related news, insider Johanna Mercier sold 29,357 shares of the business’s stock in a transaction on 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 sale, the insider now directly owns 78,127 shares of the company’s stock, valued at approximately $6,545,480.06. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Gilead Sciences news, insider Johanna Mercier sold 29,357 shares of the business’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $83.78, for a total transaction of $2,459,529.46. Following the sale, the insider now directly owns 78,127 shares of the company’s stock, valued at $6,545,480.06. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, 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 sale, the insider now directly owns 100,189 shares in the company, valued at $8,398,843.87. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 62,437 shares of company stock valued at $5,374,825. 0.16% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Gilead Sciences

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. CarsonAllaria Wealth Management Ltd. increased its stake in shares of 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 purchasing an additional 238 shares during the last quarter. nVerses Capital LLC acquired a new position in shares of Gilead Sciences during the 3rd quarter worth about $25,000. Valued Wealth Advisors LLC increased its stake in shares of Gilead Sciences by 101.9% during the 3rd quarter. Valued Wealth Advisors LLC now owns 319 shares of the biopharmaceutical company’s stock worth $27,000 after purchasing an additional 161 shares during the last quarter. Cedar Wealth Management LLC increased its stake in shares of Gilead Sciences by 51.6% during the 2nd quarter. Cedar Wealth Management LLC now owns 470 shares of the biopharmaceutical company’s stock worth $32,000 after purchasing an additional 160 shares during the last quarter. Finally, Strategic Investment Solutions Inc. IL acquired a new position in shares of Gilead Sciences during the 2nd quarter worth about $33,000. 83.67% of the stock is owned by institutional investors.

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.