Gilead Sciences (NASDAQ:GILD) Stock Keeps “Overweight” Rating at Cantor Fitzgerald

Gilead Sciences (NASDAQ:GILD)‘s stock had its “overweight” rating reaffirmed by research analysts at 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 objective would indicate a potential upside of 6.41% from the stock’s current price.

A number of other research firms have also recently commented on GILD. Zacks Research cut Gilead Sciences from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 29th. Barclays lowered their target price on Gilead Sciences from $155.00 to $145.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 29th. Leerink Partners cut Gilead Sciences from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $146.00 to $127.00 in a research note on Tuesday, July 21st. JPMorgan Chase & Co. lifted their target price on Gilead Sciences from $160.00 to $170.00 and gave the stock an “overweight” rating in a research note on Wednesday. Finally, Weiss Ratings upgraded Gilead Sciences from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, September 14th. Twenty-three research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $159.26.

Gilead Sciences Stock Down 0.8%

NASDAQ:GILD traded down $1.18 during trading hours on Thursday, hitting $145.67. 350,376 shares of the company traded hands, compared to its average volume of 6,811,528. 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 firm’s 50-day simple moving average is $144.39 and its 200-day simple moving average is $136.55. Gilead Sciences has a one year low of $114.02 and a one year high of $157.29. The company has a market cap of $180.62 billion, a PE ratio of -54.57 and a beta of 0.31.

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

Insider Buying and Selling

In related news, 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 completion of the sale, the director owned 10,066 shares of the company’s stock, valued at approximately $1,459,771.32. This trade represents a 33.19% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Andrew D. Dickinson sold 3,000 shares of Gilead Sciences stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $145.29, for a total value of $435,870.00. Following the completion of the sale, the chief financial officer directly owned 164,096 shares of the company’s stock, valued at approximately $23,841,507.84. This trade represents a 1.80% 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. Insiders have sold a total of 105,000 shares of company stock worth $14,940,540 in the last quarter. 0.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Gilead Sciences

Large investors have recently added to or reduced their stakes in the company. Davidson Trust Co. increased its position in shares of Gilead Sciences by 4.1% during the 1st quarter. Davidson Trust Co. now owns 1,879 shares of the biopharmaceutical company’s stock valued at $262,000 after purchasing an additional 74 shares during the last quarter. Financial Connections Group Inc. increased its position in shares of Gilead Sciences by 30.2% during the 1st quarter. Financial Connections Group Inc. now owns 328 shares of the biopharmaceutical company’s stock valued at $45,000 after purchasing an additional 76 shares during the last quarter. Wilkerson Advisory Group LLC increased its position in shares of Gilead Sciences by 54.2% during the 1st quarter. Wilkerson Advisory Group LLC now owns 222 shares of the biopharmaceutical company’s stock valued at $31,000 after purchasing an additional 78 shares during the last quarter. Balboa Wealth Partners increased its position in shares of Gilead Sciences by 2.7% during the 1st quarter. Balboa Wealth Partners now owns 3,057 shares of the biopharmaceutical company’s stock valued at $426,000 after purchasing an additional 79 shares during the last quarter. Finally, HBW Advisory Services LLC increased its position in shares of Gilead Sciences by 2.4% during the 1st quarter. HBW Advisory Services LLC now owns 3,391 shares of the biopharmaceutical company’s stock valued at $473,000 after purchasing an additional 79 shares during the last quarter. Hedge funds and other institutional investors own 83.67% of the company’s stock.

Gilead Sciences News Summary

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

• Positive Sentiment: Analyst support remains strong. JPMorgan raised its target from $160 to $170 and maintained an “overweight” rating. Truist also increased its target from $150 to $158 and kept a “buy” rating. Cantor Fitzgerald reaffirmed its “overweight” rating with a $155 target, while Morgan Stanley maintained “overweight” despite trimming its target from $165 to $163. The concentration of bullish ratings is likely supporting investor confidence in GILD.
• Positive Sentiment: Five-year Cognizant partnership could improve operations. Gilead signed a long-term DevOps agreement with Cognizant, combining life-sciences expertise with technology services to support the company’s processes. While financial details were not disclosed, the agreement may help Gilead improve efficiency and technology infrastructure. Gilead Sciences signs five-year DevOps agreement with Cognizant
• Positive Sentiment: Gilead’s collaboration with Nurix was extended. The two-year extension of research into E3 ligase-based protein degradation therapies suggests continued progress in an oncology program. The partnership could ultimately generate milestone payments and royalties, although the program remains subject to development and commercial risks. Extending the Gilead E3 Ligase Collaboration

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.