Gilead Sciences (NASDAQ:GILD) Stock Rating Upgraded by Scotiabank

Gilead Sciences (NASDAQ:GILD) was upgraded by equities research analysts at Scotiabank to a “strong-buy” rating in a note issued to investors on Wednesday,Zacks.com reports.

A number of other research analysts have also recently weighed in on GILD. Wells Fargo & Company lifted their price target on shares of Gilead Sciences from $140.00 to $145.00 and gave the company an “overweight” rating in a research report on Friday, October 31st. Royal Bank Of Canada increased their price objective on Gilead Sciences from $100.00 to $105.00 and gave the company a “sector perform” rating in a report on Friday, October 31st. JPMorgan Chase & Co. boosted their price target on shares of Gilead Sciences from $145.00 to $150.00 and gave the company an “overweight” rating in a research report on Friday, October 31st. Citigroup boosted their price objective on Gilead Sciences from $125.00 to $135.00 and gave the company a “buy” rating in a research report on Wednesday, October 8th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Gilead Sciences in a research report on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $129.13.

Gilead Sciences Stock Performance

Shares of NASDAQ:GILD traded down $0.18 during trading on Wednesday, reaching $125.02. 6,599,193 shares of the stock were exchanged, compared to its average volume of 7,965,889. The firm has a market cap of $155.11 billion, a PE ratio of 24.90, a PEG ratio of 0.81 and a beta of 0.32. The company has a current ratio of 1.32, a quick ratio of 1.15 and a debt-to-equity ratio of 1.13. Gilead Sciences has a 12 month low of $86.08 and a 12 month high of $127.68. The stock has a 50-day moving average price of $117.24 and a 200-day moving average price of $112.64.

Gilead Sciences (NASDAQ:GILD) last issued its quarterly earnings data on Thursday, October 30th. The biopharmaceutical company reported $2.47 EPS for the quarter, topping analysts’ consensus estimates of $2.16 by $0.31. Gilead Sciences had a return on equity of 50.99% and a net margin of 21.86%.The firm had revenue of $7.77 billion during the quarter, compared to analyst estimates of $7.42 billion. During the same period in the previous year, the company posted $2.02 EPS. The company’s revenue for the quarter was up 3.0% on a year-over-year basis. Gilead Sciences has set its FY 2025 guidance at 8.050-8.250 EPS. Research analysts expect that Gilead Sciences will post 7.95 EPS for the current fiscal year.

Insider Buying and Selling at Gilead Sciences

In other news, CFO Andrew D. Dickinson sold 2,500 shares of the company’s stock in a transaction dated Wednesday, October 15th. The shares were sold at an average price of $118.08, for a total transaction of $295,200.00. Following the completion of the transaction, the chief financial officer owned 157,055 shares of the company’s stock, valued at $18,545,054.40. This represents a 1.57% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Daniel Patrick O’day sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 28th. The shares were sold at an average price of $119.39, for a total value of $1,193,900.00. Following the transaction, the chief executive officer owned 581,203 shares of the company’s stock, valued at $69,389,826.17. This represents a 1.69% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 94,646 shares of company stock worth $11,311,286. 0.27% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Gilead Sciences

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GILD. Norges Bank purchased a new stake in shares of Gilead Sciences in the second quarter worth $2,150,268,000. Price T Rowe Associates Inc. MD lifted its position in Gilead Sciences by 314.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 14,703,103 shares of the biopharmaceutical company’s stock valued at $1,647,484,000 after acquiring an additional 11,156,382 shares during the last quarter. Nuveen LLC purchased a new position in shares of Gilead Sciences during the 1st quarter valued at about $620,415,000. Ameriprise Financial Inc. increased its stake in shares of Gilead Sciences by 397.6% during the second quarter. Ameriprise Financial Inc. now owns 6,748,403 shares of the biopharmaceutical company’s stock worth $748,147,000 after purchasing an additional 5,392,191 shares in the last quarter. Finally, Invesco Ltd. grew its stake in shares of Gilead Sciences by 33.5% in the 2nd quarter. Invesco Ltd. now owns 13,521,228 shares of the biopharmaceutical company’s stock valued at $1,499,098,000 after buying an additional 3,394,330 shares during the period. 83.67% of the stock is owned by institutional investors and hedge funds.

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.