Oppenheimer Forecasts Strong Price Appreciation for Gilead Sciences (NASDAQ:GILD) Stock

Gilead Sciences (NASDAQ:GILD) had its price target raised by investment analysts at Oppenheimer from $95.00 to $105.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “outperform” rating on the biopharmaceutical company’s stock. Oppenheimer’s target price would suggest a potential upside of 7.81% from the company’s previous close.

A number of other equities analysts have also recently commented on the company. Wells Fargo & Company increased their target price on Gilead Sciences from $100.00 to $105.00 and gave the company an “overweight” rating in a report on Thursday. Barclays increased their price target on Gilead Sciences from $84.00 to $95.00 and gave the company an “equal weight” rating in a report on Thursday. Leerink Partnrs raised Gilead Sciences from a “hold” rating to a “strong-buy” rating in a report on Monday, October 21st. Piper Sandler increased their price target on Gilead Sciences from $95.00 to $105.00 and gave the company an “overweight” rating in a report on Thursday. Finally, Robert W. Baird increased their price target on Gilead Sciences from $80.00 to $95.00 and gave the company a “neutral” rating in a report on Thursday. Eleven equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Gilead Sciences has a consensus rating of “Moderate Buy” and an average price target of $90.05.

Gilead Sciences Stock Performance

Shares of GILD traded up $5.70 during mid-day trading on Thursday, reaching $97.39. The company had a trading volume of 11,215,278 shares, compared to its average volume of 7,028,672. The stock has a market capitalization of $121.25 billion, a P/E ratio of 118.77, a PEG ratio of 3.13 and a beta of 0.17. The stock has a 50 day moving average of $84.58 and a two-hundred day moving average of $74.67. 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 has a 52-week low of $62.07 and a 52-week high of $98.32.

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

Insider Buying and Selling at Gilead Sciences

In other Gilead Sciences news, insider Johanna Mercier sold 29,357 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $83.78, for a total transaction of $2,459,529.46. Following the completion of the sale, the insider now directly owns 78,127 shares of the company’s stock, valued at $6,545,480.06. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Merdad Parsey sold 2,000 shares of the stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $83.83, for a total transaction of $167,660.00. Following the completion of the transaction, the insider now directly owns 100,189 shares of the company’s stock, valued at approximately $8,398,843.87. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Johanna Mercier sold 29,357 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $83.78, for a total value of $2,459,529.46. Following the transaction, the insider now directly owns 78,127 shares of the company’s stock, valued at approximately $6,545,480.06. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 36,847 shares of company stock valued at $3,033,340 in the last ninety days. Insiders own 0.29% of the company’s stock.

Hedge Funds Weigh In On Gilead Sciences

Several hedge funds have recently bought and sold shares of the company. Concord Asset Management LLC VA increased its stake in Gilead Sciences by 3.8% in the 3rd quarter. Concord Asset Management LLC VA now owns 3,056 shares of the biopharmaceutical company’s stock valued at $256,000 after purchasing an additional 111 shares in the last quarter. TFB Advisors LLC grew its holdings in Gilead Sciences by 1.2% during the 3rd quarter. TFB Advisors LLC now owns 9,397 shares of the biopharmaceutical company’s stock valued at $788,000 after buying an additional 116 shares during the last quarter. Sumitomo Life Insurance Co. grew its holdings in Gilead Sciences by 0.7% during the 3rd quarter. Sumitomo Life Insurance Co. now owns 17,822 shares of the biopharmaceutical company’s stock valued at $1,494,000 after buying an additional 117 shares during the last quarter. FDx Advisors Inc. boosted its holdings in shares of Gilead Sciences by 2.2% during the third quarter. FDx Advisors Inc. now owns 5,365 shares of the biopharmaceutical company’s stock worth $450,000 after purchasing an additional 117 shares during the last quarter. Finally, Sivia Capital Partners LLC boosted its holdings in shares of Gilead Sciences by 3.9% during the third quarter. Sivia Capital Partners LLC now owns 3,249 shares of the biopharmaceutical company’s stock worth $272,000 after purchasing an additional 123 shares during the last quarter. 83.67% of the stock is owned by hedge funds and other institutional investors.

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.