Gilead Sciences (NASDAQ:GILD) Lifted to Outperform at Leerink Partners

Gilead Sciences (NASDAQ:GILD) was upgraded by equities researchers at Leerink Partners from a “market perform” rating to an “outperform” rating in a report issued on Monday, Benzinga reports. The brokerage presently has a $96.00 price objective on the biopharmaceutical company’s stock, up from their previous price objective of $74.00. Leerink Partners’ price target points to a potential upside of 10.70% from the company’s current price.

Several other equities research analysts have also commented on GILD. Sanford C. Bernstein started coverage on shares of Gilead Sciences in a research note on Thursday. They issued an “outperform” rating and a $105.00 price target on the stock. Needham & Company LLC restated a “hold” rating on shares of Gilead Sciences in a research report on Thursday, August 15th. Truist Financial boosted their price target on Gilead Sciences from $82.00 to $83.00 and gave the stock a “hold” rating in a research report on Thursday, August 15th. Cantor Fitzgerald reissued a “neutral” rating and set a $70.00 price target on shares of Gilead Sciences in a report on Monday, September 16th. Finally, Royal Bank of Canada lifted their price objective on shares of Gilead Sciences from $74.00 to $75.00 and gave the company a “sector perform” rating in a research note on Friday, October 4th. Ten equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have issued 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 target price of $86.85.

Gilead Sciences Stock Performance

Shares of GILD stock opened at $86.72 on Monday. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.95 and a current ratio of 1.14. The stock has a market capitalization of $108.04 billion, a price-to-earnings ratio of 240.89, a PEG ratio of 2.98 and a beta of 0.18. Gilead Sciences has a one year low of $62.07 and a one year high of $87.86. The company’s 50-day simple moving average is $81.06 and its 200-day simple moving average is $72.82.

Gilead Sciences (NASDAQ:GILD) last released its earnings results on Thursday, August 8th. The biopharmaceutical company reported $2.01 EPS for the quarter, topping analysts’ consensus estimates of $1.61 by $0.40. Gilead Sciences had a return on equity of 29.34% and a net margin of 3.79%. The company had revenue of $6.95 billion for the quarter, compared to the consensus estimate of $6.64 billion. Equities analysts anticipate that Gilead Sciences will post 3.78 earnings per share for the current fiscal year.

Insider Transactions at Gilead Sciences

In related news, insider Johanna Mercier sold 5,490 shares of the stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $73.98, for a total value of $406,150.20. Following the completion of the transaction, the insider now owns 114,979 shares in the company, valued at $8,506,146.42. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Gilead Sciences news, insider Merdad Parsey sold 2,000 shares of Gilead Sciences stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $83.83, for a total transaction of $167,660.00. Following the transaction, the insider now directly owns 100,189 shares in the company, valued at approximately $8,398,843.87. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Johanna Mercier sold 5,490 shares of the stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $73.98, for a total value of $406,150.20. Following the completion of the sale, the insider now owns 114,979 shares of the company’s stock, valued at $8,506,146.42. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 36,847 shares of company stock valued at $3,033,340 over the last three months. Company insiders own 0.16% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. nVerses Capital LLC acquired a new stake in Gilead Sciences during the 3rd quarter worth about $25,000. CarsonAllaria Wealth Management Ltd. boosted its holdings in shares of Gilead Sciences by 198.3% during the second quarter. CarsonAllaria Wealth Management Ltd. now owns 358 shares of the biopharmaceutical company’s stock worth $25,000 after purchasing an additional 238 shares during the period. Palisade Asset Management LLC purchased a new position in Gilead Sciences during the first quarter valued at approximately $29,000. Strategic Investment Solutions Inc. IL acquired a new position in Gilead Sciences in the 2nd quarter valued at approximately $33,000. Finally, Cedar Wealth Management LLC increased its stake in Gilead Sciences by 51.6% in the 2nd quarter. Cedar Wealth Management LLC now owns 470 shares of the biopharmaceutical company’s stock valued at $32,000 after buying an additional 160 shares during the period. Hedge funds and other institutional investors own 83.67% of the company’s stock.

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.