Gilead Sciences (NASDAQ:GILD) Price Target Raised to $110.00

Gilead Sciences (NASDAQ:GILD) had its target price increased by Piper Sandler from $105.00 to $110.00 in a research report sent to investors on Wednesday morning,Benzinga reports. They currently have an overweight rating on the biopharmaceutical company’s stock.

Several other brokerages have also recently weighed in on GILD. BMO Capital Markets lifted their price target on Gilead Sciences from $94.00 to $102.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Citigroup initiated coverage on Gilead Sciences in a research report on Thursday, November 14th. They issued a “buy” rating and a $125.00 price target for the company. Sanford C. Bernstein initiated coverage on Gilead Sciences in a research report on Thursday, October 17th. They issued an “outperform” rating and a $105.00 price target for the company. Cantor Fitzgerald reiterated a “neutral” rating and issued a $80.00 price target on shares of Gilead Sciences in a research report on Wednesday, December 11th. Finally, Maxim Group cut Gilead Sciences from a “buy” rating to a “hold” rating in a research report on Friday, November 8th. Eleven analysts have rated the stock with a hold rating, fourteen have given a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $101.33.

Gilead Sciences Stock Performance

Shares of GILD opened at $104.08 on Wednesday. The firm has a market cap of $129.71 billion, a PE ratio of 1,156.44, a PEG ratio of 1.25 and a beta of 0.18. The stock’s fifty day moving average price is $93.63 and its two-hundred day moving average price is $87.37. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.26 and a quick ratio of 1.10. Gilead Sciences has a 1 year low of $62.07 and a 1 year high of $106.69.

Gilead Sciences (NASDAQ:GILD) last issued its earnings results on Tuesday, February 11th. The biopharmaceutical company reported $1.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.67 by $0.23. Gilead Sciences had a return on equity of 29.00% and a net margin of 0.45%. On average, equities research analysts forecast that Gilead Sciences will post 4.35 EPS for the current year.

Gilead Sciences Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be paid a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a dividend yield of 3.04%. The ex-dividend date of this dividend is Friday, March 14th. This is a positive change from Gilead Sciences’s previous quarterly dividend of $0.77. Gilead Sciences’s payout ratio is 854.05%.

Insider Activity

In other news, CFO Andrew D. Dickinson sold 137,676 shares of the business’s stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $102.22, for a total value of $14,073,240.72. Following the completion of the sale, the chief financial officer now owns 171,223 shares of the company’s stock, valued at approximately $17,502,415.06. The trade was a 44.57 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Merdad Parsey sold 164,211 shares of the business’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $91.92, for a total value of $15,094,275.12. Following the completion of the sale, the insider now directly owns 80,801 shares of the company’s stock, valued at approximately $7,427,227.92. This trade represents a 67.02 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 710,500 shares of company stock valued at $67,684,956. Insiders own 0.16% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. nVerses Capital LLC bought a new position in Gilead Sciences during the 3rd quarter valued at approximately $25,000. HHM Wealth Advisors LLC raised its position in Gilead Sciences by 118.5% during the 4th quarter. HHM Wealth Advisors LLC now owns 284 shares of the biopharmaceutical company’s stock valued at $26,000 after purchasing an additional 154 shares during the last quarter. Valued Wealth Advisors LLC raised its position in Gilead Sciences by 101.9% during the 3rd quarter. Valued Wealth Advisors LLC now owns 319 shares of the biopharmaceutical company’s stock valued at $27,000 after purchasing an additional 161 shares during the last quarter. YANKCOM Partnership bought a new position in Gilead Sciences during the 4th quarter valued at approximately $28,000. Finally, Decker Retirement Planning Inc. bought a new position in Gilead Sciences during the 4th quarter valued at approximately $29,000. 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.