Gilead Sciences (NASDAQ:GILD) PT Raised to $75.00 at Royal Bank of Canada

Gilead Sciences (NASDAQ:GILD) had its price target upped by equities research analysts at Royal Bank of Canada from $74.00 to $75.00 in a report issued on Friday, Benzinga reports. The brokerage presently has a “sector perform” rating on the biopharmaceutical company’s stock. Royal Bank of Canada’s price target suggests a potential downside of 11.05% from the stock’s current price.

A number of other equities analysts also recently commented on the stock. BMO Capital Markets boosted their price objective on shares of Gilead Sciences from $80.00 to $85.00 and gave the stock an “outperform” rating in a research note on Friday, August 9th. Cantor Fitzgerald reissued a “neutral” rating and issued a $70.00 target price on shares of Gilead Sciences in a research note on Monday, September 16th. Raymond James upgraded shares of Gilead Sciences from a “market perform” rating to an “outperform” rating and set a $93.00 target price for the company in a report on Monday, July 8th. Piper Sandler restated an “overweight” rating and issued a $95.00 price target on shares of Gilead Sciences in a research note on Wednesday, September 11th. Finally, Truist Financial boosted their price target on shares of Gilead Sciences from $82.00 to $83.00 and gave the company a “hold” rating in a research report on Thursday, August 15th. Twelve analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Gilead Sciences currently has an average rating of “Moderate Buy” and a consensus target price of $82.12.

Gilead Sciences Stock Up 0.2 %

Shares of Gilead Sciences stock traded up $0.15 during midday trading on Friday, hitting $84.32. The company had a trading volume of 754,873 shares, compared to its average volume of 7,204,268. The company has a 50 day moving average of $78.91 and a 200 day moving average of $71.85. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.95 and a current ratio of 1.14. Gilead Sciences has a 52-week low of $62.07 and a 52-week high of $87.86. The stock has a market capitalization of $105.05 billion, a P/E ratio of 234.19, a P/E/G ratio of 2.91 and a beta of 0.18.

Gilead Sciences (NASDAQ:GILD) last announced its earnings results on Thursday, August 8th. The biopharmaceutical company reported $2.01 EPS for the quarter, topping analysts’ consensus estimates of $1.61 by $0.40. The company had revenue of $6.95 billion for the quarter, compared to analysts’ expectations of $6.64 billion. Gilead Sciences had a return on equity of 29.34% and a net margin of 3.79%. On average, equities analysts predict that Gilead Sciences will post 3.78 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Merdad Parsey sold 2,000 shares of the company’s stock in a transaction dated 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 transaction, the insider now owns 100,189 shares of the company’s stock, valued at $8,398,843.87. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, insider Johanna Mercier sold 5,490 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $73.98, for a total value of $406,150.20. Following the completion of the sale, the insider now directly owns 114,979 shares in the company, valued at $8,506,146.42. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Merdad Parsey sold 2,000 shares of the firm’s stock in a transaction 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 transaction, the insider now 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. Over the last three months, insiders have sold 36,847 shares of company stock valued at $3,033,340. 0.16% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Gilead Sciences

A number of hedge funds and other institutional investors have recently bought and sold shares of GILD. CarsonAllaria Wealth Management Ltd. grew its holdings in Gilead Sciences by 198.3% in the 2nd quarter. CarsonAllaria Wealth Management Ltd. now owns 358 shares of the biopharmaceutical company’s stock valued at $25,000 after buying an additional 238 shares during the period. Palisade Asset Management LLC acquired a new stake in shares of Gilead Sciences during the 1st quarter valued at approximately $29,000. Strategic Investment Solutions Inc. IL bought a new position in Gilead Sciences during the 2nd quarter worth $33,000. Cedar Wealth Management LLC grew its stake in shares of Gilead Sciences by 51.6% in the second quarter. Cedar Wealth Management LLC now owns 470 shares of the biopharmaceutical company’s stock worth $32,000 after purchasing an additional 160 shares in the last quarter. Finally, Fortis Group Advisors LLC boosted its stake in Gilead Sciences by 100.0% during the fourth quarter. Fortis Group Advisors LLC now owns 492 shares of the biopharmaceutical company’s stock valued at $40,000 after buying an additional 246 shares in the last quarter. 83.67% of the stock is currently 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.