Gilead Sciences (NASDAQ:GILD) Price Target Raised to $97.00 at Truist Financial

Gilead Sciences (NASDAQ:GILD) had its price objective lifted by Truist Financial from $83.00 to $97.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has a “hold” rating on the biopharmaceutical company’s stock.

Other research analysts also recently issued reports about the stock. Maxim Group downgraded shares of Gilead Sciences from a “buy” rating to a “hold” rating in a research report on Friday. Wells Fargo & Company boosted their price target on shares of Gilead Sciences from $100.00 to $105.00 and gave the company an “overweight” rating in a report on Thursday. Oppenheimer increased their price objective on Gilead Sciences from $95.00 to $105.00 and gave the stock an “outperform” rating in a report on Thursday. Barclays boosted their target price on Gilead Sciences from $84.00 to $95.00 and gave the company an “equal weight” rating in a research note on Thursday. Finally, JPMorgan Chase & Co. upped their target price on Gilead Sciences from $100.00 to $105.00 and gave the stock an “overweight” rating in a research report on Thursday. Twelve equities research analysts have rated the stock with a hold rating, ten have given a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $90.71.

Gilead Sciences Price Performance

Shares of NASDAQ:GILD opened at $97.00 on Friday. The company’s fifty day moving average is $84.58 and its two-hundred day moving average is $74.67. The company has a market cap of $120.76 billion, a P/E ratio of 118.29, a price-to-earnings-growth ratio of 3.13 and a beta of 0.17. Gilead Sciences has a 12-month low of $62.07 and a 12-month high of $98.32. The company has a quick ratio of 0.95, a current ratio of 1.14 and a debt-to-equity ratio of 1.18.

Gilead Sciences (NASDAQ:GILD) last announced its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported $2.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.58 by $0.44. Gilead Sciences had a return on equity of 29.34% and a net margin of 3.79%. The firm had revenue of $7.55 billion during the quarter, compared to the consensus estimate of $7.01 billion. During the same period in the prior year, the business earned $2.29 EPS. The business’s revenue for the quarter was up 7.0% on a year-over-year basis. Equities analysts expect that Gilead Sciences will post 3.75 earnings per share for the current fiscal year.

Insider Activity

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 transaction, the insider now owns 99,599 shares of the company’s stock, valued at $9,113,308.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, insider Johanna Mercier sold 29,357 shares of the business’s stock in a transaction on 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 transaction, the insider now owns 78,127 shares of the company’s stock, valued at approximately $6,545,480.06. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Merdad Parsey sold 25,590 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $91.50, for a total transaction of $2,341,485.00. Following the transaction, the insider now directly owns 99,599 shares in the company, valued at $9,113,308.50. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 62,437 shares of company stock valued at $5,374,825 over the last 90 days. 0.29% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Gilead Sciences

Institutional investors and hedge funds have recently bought and sold shares of the stock. Manning & Napier Advisors LLC bought a new position in Gilead Sciences during the second quarter worth $25,328,000. Legal & General Group Plc increased its holdings in Gilead Sciences by 0.8% in the 2nd quarter. Legal & General Group Plc now owns 12,414,268 shares of the biopharmaceutical company’s stock valued at $851,743,000 after buying an additional 93,068 shares during the period. IRON Financial LLC bought a new stake in Gilead Sciences in the 3rd quarter valued at $830,000. GSA Capital Partners LLP bought a new stake in Gilead Sciences in the 1st quarter valued at $462,000. Finally, Wealth Enhancement Advisory Services LLC increased its holdings in Gilead Sciences by 13.1% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 286,116 shares of the biopharmaceutical company’s stock valued at $19,630,000 after buying an additional 33,162 shares during the period. 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.