Gilead Sciences (NASDAQ:GILD) Now Covered by Analysts at Wolfe Research

Wolfe Research started coverage on shares of Gilead Sciences (NASDAQ:GILD) in a report published on Friday morning, MarketBeat reports. The firm issued an outperform rating and a $110.00 target price on the biopharmaceutical company’s stock.

A number of other analysts have also weighed in on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of Gilead Sciences in a research note on Thursday, November 7th. JPMorgan Chase & Co. increased their price objective on shares of Gilead Sciences from $100.00 to $105.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Cantor Fitzgerald boosted their price objective on shares of Gilead Sciences from $70.00 to $80.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Evercore ISI raised Gilead Sciences to a “strong-buy” rating in a research report on Friday, August 9th. Finally, Oppenheimer boosted their target price on shares of Gilead Sciences from $95.00 to $105.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Eleven research analysts have rated the stock with a hold rating, eleven have given a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $93.86.

Gilead Sciences Trading Down 4.0 %

Gilead Sciences stock traded down $3.71 during trading hours on Friday, hitting $88.40. The company had a trading volume of 11,454,518 shares, compared to its average volume of 7,102,436. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.82 and a current ratio of 1.26. The firm has a market cap of $110.17 billion, a P/E ratio of 982.22, a P/E/G ratio of 2.85 and a beta of 0.17. The company has a 50-day moving average price of $86.68 and a two-hundred day moving average price of $75.96. Gilead Sciences has a 1 year low of $62.07 and a 1 year high of $98.90.

Gilead Sciences (NASDAQ:GILD) last announced its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported $2.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.58 by $0.44. The company had revenue of $7.55 billion for the quarter, compared to analysts’ expectations of $7.01 billion. Gilead Sciences had a return on equity of 29.00% and a net margin of 0.45%. Gilead Sciences’s revenue was up 7.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.29 earnings per share. On average, sell-side analysts anticipate that Gilead Sciences will post 4.39 earnings per share for the current year.

Gilead Sciences Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Friday, December 13th will be paid a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a yield of 3.48%. The ex-dividend date of this dividend is Friday, December 13th. Gilead Sciences’s payout ratio is 3,422.22%.

Insider Transactions at Gilead Sciences

In other Gilead Sciences news, insider Merdad Parsey sold 25,590 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $91.50, for a total value of $2,341,485.00. Following the sale, the insider now owns 99,599 shares in the company, valued at approximately $9,113,308.50. This represents a 20.44 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Johanna Mercier sold 29,357 shares of Gilead Sciences stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $83.78, for a total transaction 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 27.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 56,947 shares of company stock worth $4,968,674 over the last 90 days. 0.16% of the stock is currently owned by company insiders.

Institutional Trading of Gilead Sciences

A number of hedge funds have recently added to or reduced their stakes in the company. CarsonAllaria Wealth Management Ltd. raised its position in shares of Gilead Sciences by 198.3% in the second quarter. CarsonAllaria Wealth Management Ltd. now owns 358 shares of the biopharmaceutical company’s stock worth $25,000 after acquiring an additional 238 shares during the period. nVerses Capital LLC acquired a new position in Gilead Sciences in the 3rd quarter worth about $25,000. Valued Wealth Advisors LLC boosted its position in Gilead Sciences by 101.9% during the third quarter. Valued Wealth Advisors LLC now owns 319 shares of the biopharmaceutical company’s stock worth $27,000 after purchasing an additional 161 shares in the last quarter. Cedar Wealth Management LLC grew its holdings in Gilead Sciences by 51.6% in the second quarter. Cedar Wealth Management LLC now owns 470 shares of the biopharmaceutical company’s stock valued at $32,000 after purchasing an additional 160 shares during the period. Finally, Strategic Investment Solutions Inc. IL purchased a new stake in shares of Gilead Sciences in the second quarter valued at approximately $33,000. 83.67% of the stock is owned by hedge funds and other institutional investors.

About Gilead Sciences

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.