Gilead Sciences (NASDAQ:GILD) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Gilead Sciences (NASDAQ:GILD) had its price target upped by equities researchers at JPMorgan Chase & Co. from $100.00 to $105.00 in a report released on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the biopharmaceutical company’s stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 8.04% from the stock’s current price.

Several other equities analysts also recently commented on GILD. Sanford C. Bernstein started coverage on shares of Gilead Sciences in a research note on Thursday, October 17th. They issued an “outperform” rating and a $105.00 price target for the company. Piper Sandler boosted 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. Royal Bank of Canada boosted their price target on shares of Gilead Sciences from $75.00 to $81.00 and gave the stock a “sector perform” rating in a research note on Thursday. Cantor Fitzgerald upped their target price on shares of Gilead Sciences from $70.00 to $80.00 and gave the company a “neutral” rating in a report on Thursday. Finally, Leerink Partnrs raised shares of Gilead Sciences from a “hold” rating to a “strong-buy” rating in a report on Monday, October 21st. Eleven research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $90.05.

Gilead Sciences Stock Performance

GILD traded up $5.50 on Thursday, reaching $97.19. The stock had a trading volume of 8,544,501 shares, compared to its average volume of 7,018,311. Gilead Sciences has a 12-month low of $62.07 and a 12-month high of $98.32. The company has a current ratio of 1.14, a quick ratio of 0.95 and a debt-to-equity ratio of 1.18. The business’s 50-day moving average price is $84.58 and its two-hundred day moving average price is $74.67. The company has a market cap of $121.00 billion, a P/E ratio of 118.59, a price-to-earnings-growth ratio of 3.13 and a beta of 0.17.

Gilead Sciences (NASDAQ:GILD) last released its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported $2.02 EPS for the quarter, beating the consensus estimate of $1.58 by $0.44. The firm had revenue of $7.55 billion for the quarter, compared to analyst estimates of $7.01 billion. Gilead Sciences had a net margin of 3.79% and a return on equity of 29.34%. The business’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.29 EPS. Sell-side analysts forecast that Gilead Sciences will post 3.75 earnings per share for the current year.

Insider Activity at Gilead Sciences

In related news, insider Merdad Parsey sold 2,000 shares of the firm’s stock in a transaction 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 completion of the sale, the insider now directly owns 100,189 shares of the company’s stock, valued at approximately $8,398,843.87. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Merdad Parsey sold 2,000 shares of Gilead Sciences stock in a transaction dated Tuesday, October 1st. The shares were 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 directly owns 100,189 shares of the company’s stock, valued at approximately $8,398,843.87. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Johanna Mercier sold 29,357 shares of Gilead Sciences 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 completion of the transaction, the insider now directly owns 78,127 shares of the company’s stock, valued at $6,545,480.06. 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 three months, insiders sold 36,847 shares of company stock valued at $3,033,340. Corporate insiders own 0.29% of the company’s stock.

Institutional Trading of Gilead Sciences

Several hedge funds have recently bought and sold shares of GILD. Vanguard Group Inc. lifted its position in Gilead Sciences by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 114,732,575 shares of the biopharmaceutical company’s stock valued at $8,404,161,000 after purchasing an additional 2,910,147 shares during the last quarter. Swedbank AB bought a new stake in shares of Gilead Sciences during the 1st quarter worth about $134,489,000. International Assets Investment Management LLC raised its position in shares of Gilead Sciences by 8,238.4% during 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 buying an additional 1,622,806 shares in the last quarter. Capital Research Global Investors raised its position in shares of Gilead Sciences by 2.7% during the 1st quarter. Capital Research Global Investors now owns 61,246,366 shares of the biopharmaceutical company’s stock worth $4,486,296,000 after buying an additional 1,589,240 shares in the last quarter. Finally, Pacer Advisors Inc. raised its position in shares of Gilead Sciences by 24.7% during the 2nd quarter. Pacer Advisors Inc. now owns 7,889,663 shares of the biopharmaceutical company’s stock worth $541,310,000 after buying an additional 1,564,792 shares in the last quarter. 83.67% of the stock is currently 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.