Gilead Sciences (NASDAQ:GILD) Price Target Raised to $84.00 at Royal Bank of Canada

Gilead Sciences (NASDAQ:GILD) had its price objective boosted by Royal Bank of Canada from $81.00 to $84.00 in a report issued on Monday morning,Benzinga reports. Royal Bank of Canada currently has a sector perform rating on the biopharmaceutical company’s stock.

GILD has been the subject of several other reports. Wells Fargo & Company raised their price objective on shares of Gilead Sciences from $100.00 to $105.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Barclays raised their price objective on shares of Gilead Sciences from $84.00 to $95.00 and gave the stock an “equal weight” rating in a report on Thursday, November 7th. Truist Financial lifted their target price on shares of Gilead Sciences from $83.00 to $97.00 and gave the company a “hold” rating in a report on Friday, November 8th. JPMorgan Chase & Co. lifted their target price on shares of Gilead Sciences from $100.00 to $105.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Finally, Citigroup assumed coverage on shares of Gilead Sciences in a report on Thursday, November 14th. They set a “buy” rating and a $125.00 target price for the company. Twelve analysts have rated the stock with a hold rating, eleven have given a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $95.41.

Gilead Sciences Stock Up 1.4 %

Shares of NASDAQ:GILD opened at $89.84 on Monday. The stock’s 50-day moving average price is $87.28 and its 200-day moving average price is $76.61. Gilead Sciences has a 12-month low of $62.07 and a 12-month high of $98.90. The stock has a market capitalization of $111.96 billion, a P/E ratio of 998.22, a price-to-earnings-growth ratio of 2.72 and a beta of 0.17. The company has a current ratio of 1.26, a quick ratio of 1.10 and a debt-to-equity ratio of 1.24.

Gilead Sciences (NASDAQ:GILD) last posted its earnings results on Wednesday, November 6th. The biopharmaceutical company reported $2.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.58 by $0.44. The company had revenue of $7.55 billion for the quarter, compared to analysts’ expectations of $7.01 billion. Gilead Sciences had a return on equity of 29.00% and a net margin of 0.45%. Gilead Sciences’s quarterly revenue was up 7.0% on a year-over-year basis. During the same period last year, the firm earned $2.29 earnings per share. On average, equities analysts anticipate that Gilead Sciences will post 4.38 earnings per share for the current year.

Gilead Sciences Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Friday, December 13th will be issued a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a dividend yield of 3.43%. The ex-dividend date is Friday, December 13th. Gilead Sciences’s dividend payout ratio (DPR) is presently 3,422.22%.

Insider Buying and Selling at Gilead Sciences

In related news, insider Johanna Mercier sold 29,357 shares of the stock in a transaction dated 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 completion of the transaction, the insider now owns 78,127 shares of the company’s stock, valued at approximately $6,545,480.06. This trade represents a 27.31 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Merdad Parsey sold 2,000 shares of the stock in a transaction dated Tuesday, October 1st. The shares were 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 directly owns 100,189 shares of the company’s stock, valued at approximately $8,398,843.87. The trade was a 1.96 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 56,947 shares of company stock valued at $4,968,674 in the last 90 days. Insiders own 0.16% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in GILD. FMR LLC lifted its holdings in shares of Gilead Sciences by 79.4% in the 3rd quarter. FMR LLC now owns 33,162,319 shares of the biopharmaceutical company’s stock valued at $2,780,329,000 after acquiring an additional 14,680,161 shares during the last quarter. Wellington Management Group LLP raised its position in Gilead Sciences by 50.9% in the 3rd quarter. Wellington Management Group LLP now owns 34,600,676 shares of the biopharmaceutical company’s stock worth $2,900,921,000 after purchasing an additional 11,665,593 shares during the period. Swedbank AB purchased a new stake in Gilead Sciences in the 1st quarter worth about $134,489,000. Point72 Asset Management L.P. raised its position in Gilead Sciences by 350.1% in the 3rd quarter. Point72 Asset Management L.P. now owns 2,305,270 shares of the biopharmaceutical company’s stock worth $193,274,000 after purchasing an additional 1,793,145 shares during the period. Finally, International Assets Investment Management LLC raised its position in Gilead Sciences by 8,238.4% in the 3rd quarter. International Assets Investment Management LLC now owns 1,642,504 shares of the biopharmaceutical company’s stock worth $137,708,000 after purchasing an additional 1,622,806 shares during the period. Institutional investors own 83.67% of the company’s stock.

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.