Baron Wealth Management LLC Invests $347,000 in Gilead Sciences, Inc. (NASDAQ:GILD)

Baron Wealth Management LLC acquired a new stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 3,759 shares of the biopharmaceutical company’s stock, valued at approximately $347,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. nVerses Capital LLC purchased a new position in shares of Gilead Sciences during the 3rd quarter valued at $25,000. Valued Wealth Advisors LLC raised its holdings in Gilead Sciences by 101.9% during the third quarter. Valued Wealth Advisors LLC now owns 319 shares of the biopharmaceutical company’s stock valued at $27,000 after acquiring an additional 161 shares during the period. Decker Retirement Planning Inc. purchased a new position in shares of Gilead Sciences in the fourth quarter valued at about $29,000. Strategic Investment Solutions Inc. IL bought a new position in shares of Gilead Sciences in the second quarter worth about $33,000. Finally, Quarry LP purchased a new stake in shares of Gilead Sciences during the second quarter worth about $43,000. 83.67% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Gilead Sciences news, Director Jeffrey Bluestone sold 6,788 shares of the firm’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $91.39, for a total value of $620,355.32. Following the completion of the sale, the director now directly owns 8,920 shares of the company’s stock, valued at $815,198.80. This trade represents a 43.21 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Andrew D. Dickinson sold 248,645 shares of the company’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $92.76, for a total transaction of $23,064,310.20. Following the completion of the sale, the chief financial officer now directly owns 138,919 shares of the company’s stock, valued at $12,886,126.44. This represents a 64.16 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 456,234 shares of company stock worth $42,130,461. Corporate insiders own 0.16% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on GILD shares. Morgan Stanley upgraded Gilead Sciences from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $87.00 to $113.00 in a research note on Friday, January 10th. The Goldman Sachs Group raised their target price on shares of Gilead Sciences from $74.00 to $84.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Piper Sandler upped their price target on shares of Gilead Sciences from $95.00 to $105.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Wolfe Research started coverage on shares of Gilead Sciences in a research note on Friday, November 15th. They issued an “outperform” rating and a $110.00 price objective for the company. Finally, Leerink Partnrs upgraded shares of Gilead Sciences from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 21st. Eleven research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $98.39.

Gilead Sciences Trading Up 1.9 %

Shares of GILD stock opened at $95.59 on Thursday. Gilead Sciences, Inc. has a 1-year low of $62.07 and a 1-year high of $98.90. The company has a market cap of $119.13 billion, a price-to-earnings ratio of 1,062.11, a PEG ratio of 1.31 and a beta of 0.18. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.26 and a quick ratio of 1.10. The stock has a 50 day simple moving average of $92.00 and a 200-day simple moving average of $85.44.

Gilead Sciences (NASDAQ:GILD) last announced its earnings results on Wednesday, November 6th. The biopharmaceutical company reported $2.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.58 by $0.44. Gilead Sciences had a net margin of 0.45% and a return on equity of 29.00%. The business had revenue of $7.55 billion for the quarter, compared to analyst estimates of $7.01 billion. During the same quarter last year, the business earned $2.29 earnings per share. The company’s revenue for the quarter was up 7.0% compared to the same quarter last year. On average, equities research analysts expect that Gilead Sciences, Inc. will post 4.36 EPS for the current fiscal year.

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.