Gilead Sciences’ (GILD) “Overweight” Rating Reiterated at Piper Sandler

Gilead Sciences (NASDAQ:GILD)‘s stock had its “overweight” rating reaffirmed by equities researchers at Piper Sandler in a research report issued to clients and investors on Wednesday, Benzinga reports. They presently have a $95.00 target price on the biopharmaceutical company’s stock. Piper Sandler’s target price would indicate a potential upside of 18.62% from the company’s previous close.

Several other equities analysts also recently issued reports on GILD. Truist Financial lifted their price target on shares of Gilead Sciences from $82.00 to $83.00 and gave the stock a “hold” rating in a report on Thursday, August 15th. Needham & Company LLC reiterated a “hold” rating on shares of Gilead Sciences in a report on Thursday, August 15th. Cantor Fitzgerald reissued a “neutral” rating and set a $70.00 price objective on shares of Gilead Sciences in a report on Monday. Raymond James upgraded shares of Gilead Sciences from a “market perform” rating to an “outperform” rating and set a $93.00 price objective for the company in a research note on Monday, July 8th. Finally, BMO Capital Markets increased their price target on shares of Gilead Sciences from $80.00 to $85.00 and gave the company an “outperform” rating in a research report on Friday, August 9th. Twelve analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $82.06.

Gilead Sciences Stock Down 1.7 %

Shares of GILD traded down $1.35 during mid-day trading on Wednesday, hitting $80.09. 299,574 shares of the company’s stock were exchanged, compared to its average volume of 7,114,185. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.14 and a quick ratio of 0.95. The company has a 50-day simple moving average of $74.53 and a 200 day simple moving average of $70.65. The company has a market cap of $99.71 billion, a PE ratio of 222.47, a P/E/G ratio of 2.73 and a beta of 0.18. Gilead Sciences has a 52 week low of $62.07 and a 52 week high of $87.86.

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

Insider Buying and Selling

In other news, insider Johanna Mercier sold 5,490 shares of the company’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $73.98, for a total transaction of $406,150.20. Following the transaction, the insider now directly owns 114,979 shares of the company’s stock, valued at $8,506,146.42. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, insider Merdad Parsey sold 2,000 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $68.63, for a total transaction of $137,260.00. Following the completion of the sale, the insider now owns 96,380 shares of the company’s stock, valued at approximately $6,614,559.40. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Johanna Mercier sold 5,490 shares of Gilead Sciences stock in a transaction 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 transaction, the insider now owns 114,979 shares in the company, valued at approximately $8,506,146.42. The disclosure for this sale can be found here. 0.16% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Gilead Sciences

A number of institutional investors and hedge funds have recently made changes to their positions in GILD. CarsonAllaria Wealth Management Ltd. grew its stake in shares of Gilead Sciences by 198.3% in the second 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 in the last quarter. Private Wealth Management Group LLC acquired a new position in Gilead Sciences in the 4th quarter valued at about $29,000. Palisade Asset Management LLC purchased a new stake in Gilead Sciences during the first quarter worth about $29,000. Sachetta LLC acquired a new stake in shares of Gilead Sciences during the fourth quarter worth about $30,000. Finally, Cedar Wealth Management LLC grew its holdings 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 valued at $32,000 after purchasing an additional 160 shares in the last quarter. 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.