Gilead Sciences (NASDAQ:GILD) Stock Rating Reaffirmed as “Overweight” by Cantor Fitzgerald

Gilead Sciences (NASDAQ:GILD)‘s stock had its “overweight” rating reaffirmed by Cantor Fitzgerald in a research report issued to clients and investors on Thursday, Benzinga reports. They currently have a $155.00 target price on the biopharmaceutical company’s stock. Cantor Fitzgerald’s price target would indicate a potential upside of 5.55% from the company’s current price.

Other research analysts have also issued reports about the stock. Needham & Company LLC reiterated a “buy” rating and issued a $170.00 price target on shares of Gilead Sciences in a research note on Wednesday, August 5th. Barclays lowered their target price on shares of Gilead Sciences from $155.00 to $145.00 and set an “equal weight” rating for the company in a report on Wednesday, July 29th. Morgan Stanley lowered their price objective on Gilead Sciences from $165.00 to $163.00 and set an “overweight” rating for the company in a research note on Wednesday. Zacks Research cut shares of Gilead Sciences from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 29th. Finally, Leerink Partners downgraded shares of Gilead Sciences from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $146.00 to $127.00 in a research note on Tuesday, July 21st. Twenty-three analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, Gilead Sciences has a consensus rating of “Moderate Buy” and a consensus target price of $159.15.

Gilead Sciences Trading Up 1.8%

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. Gilead Sciences has a 52 week low of $114.02 and a 52 week high of $157.29. The stock has a market cap of $182.09 billion, a PE ratio of -55.00 and a beta of 0.31. The business has a 50 day moving average of $144.39 and a 200-day moving average of $136.55.

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

Insider Buying and Selling at Gilead Sciences

In other news, CEO Daniel O’Day sold 15,000 shares of Gilead Sciences stock in a transaction that occurred on Thursday, October 1st. The shares were sold at an average price of $147.90, for a total transaction of $2,218,500.00. Following the sale, the chief executive officer owned 566,683 shares in the company, valued at $83,812,415.70. This trade represents a 2.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Andrew D. Dickinson sold 3,000 shares of the business’s stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $145.29, for a total transaction of $435,870.00. Following the completion of the sale, the chief financial officer owned 164,096 shares in the company, valued at approximately $23,841,507.84. The trade was a 1.80% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 105,000 shares of company stock valued at $14,940,540 in the last ninety days. 0.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Gilead Sciences

Institutional investors have recently bought and sold shares of the business. Vann Equity Management LLC grew its position in Gilead Sciences by 41.6% in the third quarter. Vann Equity Management LLC now owns 4,717 shares of the biopharmaceutical company’s stock worth $703,000 after acquiring an additional 1,385 shares in the last quarter. Venture Visionary Partners LLC grew its holdings in Gilead Sciences by 10.1% during the 3rd quarter. Venture Visionary Partners LLC now owns 6,746 shares of the biopharmaceutical company’s stock valued at $1,006,000 after purchasing an additional 618 shares during the last quarter. Greenfield Savings Bank lifted its stake in Gilead Sciences by 3.1% in the third quarter. Greenfield Savings Bank now owns 10,138 shares of the biopharmaceutical company’s stock worth $1,511,000 after purchasing an additional 301 shares during the last quarter. Echo45 Advisors LLC bought a new position in shares of Gilead Sciences during the third quarter valued at approximately $227,000. Finally, North Point Portfolio Managers Corp OH bought a new stake in shares of Gilead Sciences during the 3rd quarter worth approximately $98,000. Institutional investors own 83.67% of the company’s stock.

Key Gilead Sciences News

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.