Oppenheimer Boosts Gilead Sciences (NASDAQ:GILD) Price Target to $115.00

Gilead Sciences (NASDAQ:GILD) had its target price raised by equities researchers at Oppenheimer from $105.00 to $115.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has an “outperform” rating on the biopharmaceutical company’s stock. Oppenheimer’s target price points to a potential upside of 26.95% from the stock’s current price.

Other research analysts have also recently issued research reports about the company. Cantor Fitzgerald raised their target price on Gilead Sciences from $70.00 to $80.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. UBS Group lifted their price objective on shares of Gilead Sciences from $70.00 to $96.00 and gave the stock a “neutral” rating in a research note on Thursday, November 21st. Wolfe Research initiated coverage on shares of Gilead Sciences in a research note on Friday, November 15th. They set an “outperform” rating and a $110.00 target price for the company. Robert W. Baird lifted their price target on shares of Gilead Sciences from $80.00 to $95.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Finally, Leerink Partners raised Gilead Sciences from a “market perform” rating to an “outperform” rating and upped their target price for the company from $74.00 to $96.00 in a report on Monday, October 21st. Twelve investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $96.43.

Gilead Sciences Trading Down 1.7 %

Shares of GILD stock opened at $90.59 on Tuesday. Gilead Sciences has a 1 year low of $62.07 and a 1 year high of $98.90. The firm has a market capitalization of $112.90 billion, a PE ratio of 1,006.56, a price-to-earnings-growth ratio of 2.86 and a beta of 0.18. The stock has a fifty day moving average of $89.33 and a two-hundred day moving average of $78.89. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.10 and a current ratio of 1.26.

Gilead Sciences (NASDAQ:GILD) last released its 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 analysts’ expectations of $7.01 billion. Gilead Sciences had a net margin of 0.45% and a return on equity of 29.00%. Gilead Sciences’s quarterly revenue was up 7.0% on a year-over-year basis. During the same quarter last year, the company earned $2.29 EPS. As a group, research analysts expect that Gilead Sciences will post 4.37 EPS for the current year.

Insider Transactions at Gilead Sciences

In other news, insider Merdad Parsey sold 25,590 shares of Gilead Sciences stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $91.50, for a total value of $2,341,485.00. Following the completion of the transaction, the insider now owns 99,599 shares in the company, valued at approximately $9,113,308.50. The trade was a 20.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Johanna Mercier sold 29,357 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $83.78, for a total value of $2,459,529.46. Following the sale, the insider now owns 78,127 shares in the company, valued at approximately $6,545,480.06. This trade represents a 27.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 476,591 shares of company stock valued at $43,747,615. Corporate insiders own 0.29% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. CarsonAllaria Wealth Management Ltd. increased its stake in 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 purchasing an additional 238 shares in the last quarter. nVerses Capital LLC acquired a new stake in shares of Gilead Sciences in the 3rd quarter valued at about $25,000. Valued Wealth Advisors LLC lifted its holdings in shares of Gilead Sciences by 101.9% in the third quarter. Valued Wealth Advisors LLC now owns 319 shares of the biopharmaceutical company’s stock valued at $27,000 after purchasing an additional 161 shares in the last quarter. Cedar Wealth Management LLC boosted its position in shares of Gilead Sciences by 51.6% during the second quarter. Cedar Wealth Management LLC now owns 470 shares of the biopharmaceutical company’s stock worth $32,000 after buying an additional 160 shares during the period. Finally, Strategic Investment Solutions Inc. IL bought a new position in shares of Gilead Sciences during the second quarter worth about $33,000. Institutional investors own 83.67% of the company’s stock.

About Gilead Sciences

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.