Gilead Sciences’ (GILD) “Sector Perform” Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada reiterated their sector perform rating on shares of Gilead Sciences (NASDAQ:GILD) in a report issued on Monday,Benzinga reports. They currently have a $84.00 price target on the biopharmaceutical company’s stock.

Other analysts have also issued research reports about the company. Morgan Stanley upgraded Gilead Sciences from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $87.00 to $113.00 in a report on Friday, January 10th. Mizuho increased their price objective on Gilead Sciences from $90.00 to $100.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. Bank of America reissued a “buy” rating and issued a $109.00 target price on shares of Gilead Sciences in a research note on Tuesday, December 10th. Maxim Group lowered shares of Gilead Sciences from a “buy” rating to a “hold” rating in a research report on Friday, November 8th. Finally, Wells Fargo & Company lifted their price objective on shares of Gilead Sciences from $100.00 to $105.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Eleven equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $98.39.

Gilead Sciences Trading Up 1.2 %

NASDAQ:GILD opened at $98.38 on Monday. 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 business’s 50-day simple moving average is $92.42 and its 200-day simple moving average is $85.96. Gilead Sciences has a fifty-two week low of $62.07 and a fifty-two week high of $99.45. The stock has a market capitalization of $122.61 billion, a PE ratio of 1,093.11, a price-to-earnings-growth ratio of 1.37 and a beta of 0.18.

Gilead Sciences (NASDAQ:GILD) last issued its quarterly 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 29.00% and a net margin of 0.45%. The company had revenue of $7.55 billion for the quarter, compared to analyst estimates of $7.01 billion. During the same period in the previous year, the company posted $2.29 earnings per share. The company’s quarterly revenue was up 7.0% compared to the same quarter last year. Sell-side analysts expect that Gilead Sciences will post 4.34 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Andrew D. Dickinson sold 248,645 shares of the firm’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $92.76, for a total value of $23,064,310.20. Following the transaction, the chief financial officer now owns 138,919 shares of the company’s stock, valued at approximately $12,886,126.44. This trade represents a 64.16 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jeffrey Bluestone sold 6,788 shares of Gilead Sciences stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $91.39, for a total transaction of $620,355.32. Following the transaction, the director now directly owns 8,920 shares in the company, valued at $815,198.80. This represents a 43.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 598,414 shares of company stock worth $55,953,200 in the last quarter. 0.29% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Gilead Sciences

Institutional investors have recently added to or reduced their stakes in the stock. State Street Corp increased its position in Gilead Sciences by 1.4% in the third quarter. State Street Corp now owns 60,171,691 shares of the biopharmaceutical company’s stock worth $5,044,795,000 after buying an additional 841,776 shares during the last quarter. Wellington Management Group LLP lifted its stake in shares of Gilead Sciences by 50.9% during the 3rd quarter. Wellington Management Group LLP now owns 34,600,676 shares of the biopharmaceutical company’s stock valued at $2,900,921,000 after buying an additional 11,665,593 shares in the last quarter. FMR LLC grew its stake in Gilead Sciences by 79.4% in the 3rd quarter. FMR LLC now owns 33,162,319 shares of the biopharmaceutical company’s stock valued at $2,780,329,000 after buying an additional 14,680,161 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Gilead Sciences by 2.1% during the 3rd quarter. Geode Capital Management LLC now owns 27,540,870 shares of the biopharmaceutical company’s stock worth $2,302,119,000 after purchasing an additional 574,421 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Gilead Sciences by 3.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 7,752,975 shares of the biopharmaceutical company’s stock worth $650,009,000 after purchasing an additional 224,960 shares during the period. Institutional investors own 83.67% of the company’s stock.

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.