Cantor Fitzgerald Reaffirms “Overweight” Rating for Gilead Sciences (NASDAQ:GILD)

Gilead Sciences (NASDAQ:GILD)‘s stock had its “overweight” rating reaffirmed by stock analysts at Cantor Fitzgerald in a report released on Thursday, Benzinga reports. They presently have a $155.00 target price on the biopharmaceutical company’s stock. Cantor Fitzgerald’s price target indicates a potential upside of 5.55% from the company’s current price.

Several other analysts have also issued reports on GILD. Weiss Ratings raised shares of Gilead Sciences from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, September 14th. Barclays reduced their target price on shares of Gilead Sciences from $155.00 to $145.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 29th. Royal Bank Of Canada raised their price objective on Gilead Sciences from $120.00 to $123.00 and gave the company a “sector perform” rating in a research note on Wednesday, August 5th. Zacks Research downgraded Gilead Sciences from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 29th. Finally, Truist Financial lifted their price target on Gilead Sciences from $150.00 to $158.00 and gave the company a “buy” rating in a research report on Wednesday. Twenty-three investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, Gilead Sciences has a consensus rating of “Moderate Buy” and a consensus target price of $159.15.

Gilead Sciences Trading Up 1.8%

NASDAQ GILD opened at $146.85 on Thursday. The company has a quick ratio of 1.09, a current ratio of 1.27 and a debt-to-equity ratio of 2.03. The business has a 50 day moving average price of $144.39 and a 200-day moving average price of $136.55. The company has a market cap of $182.09 billion, a price-to-earnings ratio of -55.00 and a beta of 0.31. Gilead Sciences has a 52 week low of $114.02 and a 52 week high of $157.29.

Gilead Sciences (NASDAQ:GILD) last posted its earnings results on Monday, August 3rd. The biopharmaceutical company reported ($6.75) EPS for the quarter, topping the consensus estimate of ($7.25) by $0.50. Gilead Sciences had a negative net margin of 10.64% and a negative return on equity of 2.11%. The company had revenue of $7.80 billion during the quarter, compared to the consensus estimate of $7.40 billion. During the same period in the previous year, the firm posted $2.01 earnings per share. The firm’s revenue for the quarter was up 10.6% on a year-over-year basis. As a group, equities analysts expect that Gilead Sciences will post -0.48 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Johanna Mercier sold 3,000 shares of the stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $144.22, for a total value of $432,660.00. Following the completion of the transaction, the insider directly owned 116,684 shares of the company’s stock, valued at $16,828,166.48. This trade represents a 2.51% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Jeffrey Bluestone sold 5,000 shares of Gilead Sciences stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $145.02, for a total value of $725,100.00. Following the sale, the director directly owned 10,066 shares of the company’s stock, valued at $1,459,771.32. This trade represents a 33.19% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 105,000 shares of company stock valued at $14,940,540. Insiders own 0.30% of the company’s stock.

Hedge Funds Weigh In On Gilead Sciences

Large investors have recently added to or reduced their stakes in the stock. Aviva PLC boosted its stake in Gilead Sciences by 5.4% in the 4th quarter. Aviva PLC now owns 1,156,738 shares of the biopharmaceutical company’s stock worth $141,978,000 after purchasing an additional 59,782 shares during the period. Bank of Nova Scotia bought a new stake in shares of Gilead Sciences in the second quarter valued at about $100,056,000. OMERS ADMINISTRATION Corp acquired a new position in shares of Gilead Sciences during the second quarter worth about $55,754,000. Groupe la Francaise grew its holdings in shares of Gilead Sciences by 30.9% during the second quarter. Groupe la Francaise now owns 49,627 shares of the biopharmaceutical company’s stock worth $6,270,000 after buying an additional 11,712 shares in the last quarter. Finally, Baird Financial Group Inc. grew its holdings in shares of Gilead Sciences by 3.6% during the second quarter. Baird Financial Group Inc. now owns 292,295 shares of the biopharmaceutical company’s stock worth $36,929,000 after buying an additional 10,206 shares in the last quarter. 83.67% of the stock is currently owned by institutional investors and hedge funds.

Key Headlines Impacting Gilead Sciences

Here are the key news stories impacting Gilead Sciences this week:

• Positive Sentiment: Analysts raised their outlook: JPMorgan increased its price target from $160 to $170 and maintained an “overweight” rating, while Truist raised its target from $150 to $158 and reiterated a “buy” rating. These revisions suggest analysts see additional upside for GILD.
• Positive Sentiment: Five-year Cognizant agreement: Gilead signed a long-term DevOps services agreement with Cognizant. The partnership is intended to combine life-sciences expertise with technology services to improve Gilead’s processes and operational capabilities. The agreement may support efficiency, although its direct financial impact was not disclosed. Gilead Sciences signs five-year DevOps agreement with Cognizant
• Neutral Sentiment: Nurix collaboration extended: Nurix Therapeutics extended the research term for an oncology program under its Gilead partnership by two years. The extension indicates ongoing research activity and could lead to future milestone payments and royalties for Nurix, but the immediate effect on Gilead’s valuation is limited. Is Extending the Gilead E3 Ligase Collaboration Altering The Investment Case For Nurix Therapeutics
• Negative Sentiment: Valuation caution: A Seeking Alpha analysis argued that Gilead’s pursuit of growth carries significant costs and may constrain the value implied by discounted-cash-flow analysis. The concern could temper enthusiasm despite the broader analyst optimism. Gilead: Buying Growth Isn’t Free, And The Discounted Cash Flow Model Knows It
• Negative Sentiment: Mixed target changes: Morgan Stanley lowered its price target from $165 to $163, although it retained an “overweight” rating. The modest reduction signals some caution regarding near-term upside.

Gilead Sciences Company Profile

Gilead Sciences, Inc (NASDAQ: GILD) is a biopharmaceutical company that discovers, develops and commercializes medicines for serious and life-threatening diseases. Its research and commercial activities focus primarily on virology, including HIV, hepatitis B and hepatitis C, as well as oncology, inflammation and other areas of significant unmet medical need.

Gilead’s portfolio includes HIV treatments such as Biktarvy, Descovy, Genvoya and Sunlenca; hepatitis therapies including Epclusa, Harvoni and Vemlidy; and Veklury (remdesivir), an antiviral used to treat COVID-19 in certain patients.