Gilead Sciences (NASDAQ:GILD) Given “Buy” Rating at Bank of America

Gilead Sciences (NASDAQ:GILD)‘s stock had its “buy” rating reissued by Bank of America in a research report issued on Tuesday,Benzinga reports. They presently have a $109.00 price objective on the biopharmaceutical company’s stock. Bank of America‘s target price would indicate a potential upside of 20.32% from the company’s current price.

Several other equities research analysts have also issued reports on GILD. Maxim Group lowered Gilead Sciences from a “buy” rating to a “hold” rating in a research report on Friday, November 8th. UBS Group boosted their target price on shares of Gilead Sciences from $70.00 to $96.00 and gave the company a “neutral” rating in a research note on Thursday, November 21st. Piper Sandler raised their price target on shares of Gilead Sciences from $95.00 to $105.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. Needham & Company LLC reiterated a “hold” rating on shares of Gilead Sciences in a research note on Thursday, November 7th. Finally, Citigroup began coverage on Gilead Sciences in a research note on Thursday, November 14th. They issued a “buy” rating and a $125.00 target price on the stock. Twelve analysts have rated the stock with a hold rating, twelve have assigned a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat.com, Gilead Sciences presently has an average rating of “Moderate Buy” and an average price target of $96.43.

Gilead Sciences Stock Down 1.7 %

GILD opened at $90.59 on Tuesday. Gilead Sciences has a fifty-two week low of $62.07 and a fifty-two week high of $98.90. The firm has a market capitalization of $112.90 billion, a P/E ratio of 1,006.56, a PEG ratio of 2.86 and a beta of 0.18. The company’s 50-day moving average is $89.33 and its 200 day moving average is $78.89. 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 (NASDAQ:GILD) last announced its earnings results on Wednesday, November 6th. The biopharmaceutical company reported $2.02 earnings per share for the quarter, topping analysts’ consensus estimates of $1.58 by $0.44. The firm had revenue of $7.55 billion for the quarter, compared to the consensus estimate of $7.01 billion. Gilead Sciences had a return on equity of 29.00% and a net margin of 0.45%. The company’s revenue was up 7.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.29 EPS. Research analysts expect that Gilead Sciences will post 4.37 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Jeffrey Bluestone sold 6,788 shares of the stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $91.39, for a total transaction of $620,355.32. Following the transaction, the director now directly owns 8,920 shares in the company, valued at approximately $815,198.80. This represents a 43.21 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Merdad Parsey sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $83.83, for a total value of $167,660.00. Following the completion of the sale, the insider now owns 100,189 shares of the company’s stock, valued at $8,398,843.87. The trade was a 1.96 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 476,591 shares of company stock worth $43,747,615. Insiders own 0.29% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Franklin Resources Inc. boosted its stake in shares of Gilead Sciences by 22.8% in the 3rd quarter. Franklin Resources Inc. now owns 2,241,354 shares of the biopharmaceutical company’s stock valued at $190,611,000 after purchasing an additional 416,379 shares in the last quarter. Tri Ri Asset Management Corp bought a new stake in Gilead Sciences in the third quarter worth $3,380,000. Synovus Financial Corp boosted its position in Gilead Sciences by 99.6% during the third quarter. Synovus Financial Corp now owns 37,265 shares of the biopharmaceutical company’s stock valued at $3,124,000 after buying an additional 18,592 shares during the period. Tidal Investments LLC grew its stake in shares of Gilead Sciences by 9.9% during the third quarter. Tidal Investments LLC now owns 111,464 shares of the biopharmaceutical company’s stock valued at $9,345,000 after buying an additional 10,078 shares during the last quarter. Finally, Optimist Retirement Group LLC increased its holdings in shares of Gilead Sciences by 5.4% in the third quarter. Optimist Retirement Group LLC now owns 27,234 shares of the biopharmaceutical company’s stock worth $2,283,000 after buying an additional 1,391 shares during the period. 83.67% of the stock is owned by hedge funds and other 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.