Citigroup Upgrades Gilead Sciences (NASDAQ:GILD) to Strong-Buy

Gilead Sciences (NASDAQ:GILD) was upgraded by stock analysts at Citigroup to a “strong-buy” rating in a note issued to investors on Wednesday,Zacks.com reports.

A number of other brokerages also recently weighed in on GILD. Cantor Fitzgerald lifted their target price 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. Oppenheimer lifted their target price on shares of Gilead Sciences from $95.00 to $105.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Evercore ISI raised shares of Gilead Sciences to a “strong-buy” rating in a research note on Friday, August 9th. Leerink Partners raised shares of Gilead Sciences from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $74.00 to $96.00 in a research note on Monday, October 21st. Finally, The Goldman Sachs Group lifted their target price on shares of Gilead Sciences from $74.00 to $84.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Eleven investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and four have given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $93.10.

Gilead Sciences Price Performance

Shares of NASDAQ:GILD opened at $92.11 on Wednesday. The firm has a market cap of $114.68 billion, a PE ratio of 1,023.44, a price-to-earnings-growth ratio of 2.91 and a beta of 0.17. The firm’s fifty day moving average is $86.22 and its 200-day moving average is $75.69. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.82 and a current ratio of 1.11. Gilead Sciences has a 52 week low of $62.07 and a 52 week high of $98.90.

Gilead Sciences (NASDAQ:GILD) last issued its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported $2.02 EPS for the quarter, topping analysts’ consensus estimates of $1.58 by $0.44. The company had revenue of $7.55 billion for the quarter, compared to analyst estimates of $7.01 billion. Gilead Sciences had a net margin of 0.45% and a return on equity of 29.00%. Gilead Sciences’s revenue was up 7.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.29 earnings per share. Sell-side analysts predict that Gilead Sciences will post 4.39 earnings per share for the current year.

Insider Activity at Gilead Sciences

In related news, insider Merdad Parsey sold 25,590 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $91.50, for a total transaction of $2,341,485.00. Following the sale, the insider now owns 99,599 shares of the company’s stock, valued at approximately $9,113,308.50. This represents a 20.44 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Johanna Mercier sold 29,357 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $83.78, for a total transaction of $2,459,529.46. Following the sale, the insider now directly owns 78,127 shares in the company, valued at $6,545,480.06. This trade represents a 27.31 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 56,947 shares of company stock worth $4,968,674. 0.16% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Gilead Sciences

A number of institutional investors have recently made changes to their positions in the stock. CarsonAllaria Wealth Management Ltd. boosted its stake in shares of Gilead Sciences by 198.3% in the 2nd quarter. CarsonAllaria Wealth Management Ltd. now owns 358 shares of the biopharmaceutical company’s stock valued at $25,000 after purchasing an additional 238 shares in the last quarter. nVerses Capital LLC bought a new stake in Gilead Sciences in the 3rd quarter worth $25,000. Valued Wealth Advisors LLC grew its holdings in Gilead Sciences by 101.9% in the 3rd quarter. Valued Wealth Advisors LLC now owns 319 shares of the biopharmaceutical company’s stock worth $27,000 after acquiring an additional 161 shares during the last quarter. Cedar Wealth Management LLC boosted its stake in shares of Gilead Sciences by 51.6% during the 2nd 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 in the last quarter. Finally, Strategic Investment Solutions Inc. IL bought a new stake in shares of Gilead Sciences during the 2nd quarter valued at about $33,000. 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.