Royal Bank of Canada Reiterates “Sector Perform” Rating for Gilead Sciences (NASDAQ:GILD)

Gilead Sciences (NASDAQ:GILD)‘s stock had its “sector perform” rating reaffirmed by Royal Bank of Canada in a research note issued to investors on Monday, Benzinga reports. They presently have a $74.00 price target on the biopharmaceutical company’s stock. Royal Bank of Canada’s price target suggests a potential upside of 8.19% from the company’s current price.

Several other research firms have also commented on GILD. UBS Group cut their price objective on Gilead Sciences from $81.00 to $75.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 17th. Maxim Group lowered their target price on Gilead Sciences from $90.00 to $85.00 and set a “buy” rating for the company in a research note on Wednesday, May 1st. Oppenheimer restated an “outperform” rating and set a $105.00 target price on shares of Gilead Sciences in a research note on Friday, April 19th. Wells Fargo & Company lowered their target price on Gilead Sciences from $84.00 to $77.00 and set an “equal weight” rating for the company in a research note on Monday, March 4th. Finally, TD Cowen lowered their target price on Gilead Sciences from $90.00 to $85.00 and set a “buy” rating for the company in a research note on Friday, April 26th. Twelve research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $83.47.

Gilead Sciences Trading Down 0.3 %

NASDAQ:GILD opened at $68.40 on Monday. The business’s 50-day moving average is $66.01 and its two-hundred day moving average is $72.42. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.08 and a quick ratio of 0.94. Gilead Sciences has a 12 month low of $62.07 and a 12 month high of $87.86. The firm has a market capitalization of $85.22 billion, a PE ratio of 190.00, a price-to-earnings-growth ratio of 2.92 and a beta of 0.18.

Gilead Sciences (NASDAQ:GILD) last released its quarterly earnings data on Thursday, April 25th. The biopharmaceutical company reported ($1.32) EPS for the quarter, beating the consensus estimate of ($1.49) by $0.17. Gilead Sciences had a return on equity of 24.34% and a net margin of 1.76%. The company had revenue of $6.69 billion for the quarter, compared to analyst estimates of $6.36 billion. During the same period last year, the company posted $1.37 earnings per share. The firm’s revenue was up 5.3% compared to the same quarter last year. Research analysts predict that Gilead Sciences will post 3.75 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Gilead Sciences news, insider Merdad Parsey sold 2,000 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $68.63, for a total value of $137,260.00. Following the transaction, the insider now owns 96,380 shares of the company’s stock, valued at $6,614,559.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.29% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Gilead Sciences

A number of large investors have recently bought and sold shares of the business. Norges Bank bought a new stake in shares of Gilead Sciences during the fourth quarter valued at approximately $1,301,624,000. The Manufacturers Life Insurance Company raised its holdings in shares of Gilead Sciences by 78.8% during the fourth quarter. The Manufacturers Life Insurance Company now owns 7,632,000 shares of the biopharmaceutical company’s stock valued at $618,268,000 after buying an additional 3,362,505 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Gilead Sciences by 2.6% during the first quarter. Vanguard Group Inc. now owns 114,732,575 shares of the biopharmaceutical company’s stock valued at $8,404,161,000 after buying an additional 2,910,147 shares during the last quarter. Wellington Management Group LLP raised its holdings in shares of Gilead Sciences by 14.4% during the fourth quarter. Wellington Management Group LLP now owns 18,630,134 shares of the biopharmaceutical company’s stock valued at $1,509,227,000 after buying an additional 2,350,550 shares during the last quarter. Finally, Swedbank AB bought a new stake in shares of Gilead Sciences during the first quarter valued at approximately $134,489,000. 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.