HSBC Upgrades Gilead Sciences (NASDAQ:GILD) to “Hold”

Gilead Sciences (NASDAQ:GILD) was upgraded by equities research analysts at HSBC from a “reduce” rating to a “hold” rating in a report issued on Wednesday, MarketBeat.com reports. The brokerage currently has a $69.00 price target on the biopharmaceutical company’s stock. HSBC’s price objective would indicate a potential upside of 3.17% from the stock’s previous close.

GILD has been the subject of several other research reports. UBS Group dropped their price objective on Gilead Sciences from $81.00 to $75.00 and set a “neutral” rating for the company in a report on Wednesday, April 17th. Wells Fargo & Company decreased their target price on Gilead Sciences from $84.00 to $77.00 and set an “equal weight” rating for the company in a research report on Monday, March 4th. Barclays decreased their price objective on Gilead Sciences from $85.00 to $80.00 and set an “equal weight” rating for the company in a report on Monday, February 12th. Truist Financial downgraded shares of Gilead Sciences from a “buy” rating to a “hold” rating and reduced their target price for the stock from $91.00 to $82.00 in a research report on Thursday, February 22nd. Finally, Mizuho dropped their price objective on shares of Gilead Sciences from $101.00 to $90.00 and set a “buy” rating on the stock in a research note on Thursday, February 22nd. Ten analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $84.57.

Gilead Sciences Trading Down 0.2 %

Shares of GILD stock traded down $0.15 on Wednesday, hitting $66.88. 2,967,901 shares of the company’s stock traded hands, compared to its average volume of 7,245,742. The stock has a market capitalization of $83.27 billion, a price-to-earnings ratio of 14.89, a P/E/G ratio of 0.96 and a beta of 0.19. The company’s fifty day simple moving average is $71.68 and its 200 day simple moving average is $76.46. Gilead Sciences has a one year low of $65.90 and a one year high of $87.86. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.27 and a current ratio of 1.43.

Gilead Sciences (NASDAQ:GILD) last announced its quarterly earnings data on Tuesday, February 6th. The biopharmaceutical company reported $1.72 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.76 by ($0.04). The company had revenue of $7.12 billion for the quarter, compared to the consensus estimate of $7.10 billion. Gilead Sciences had a net margin of 20.89% and a return on equity of 38.85%. The firm’s quarterly revenue was down 3.7% compared to the same quarter last year. During the same period last year, the business posted $1.67 earnings per share. Equities analysts forecast that Gilead Sciences will post 6.28 EPS for the current year.

Insider Transactions at Gilead Sciences

In other Gilead Sciences news, insider Merdad Parsey sold 2,000 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $72.96, for a total value of $145,920.00. Following the transaction, the insider now directly owns 96,304 shares of the company’s stock, valued at $7,026,339.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.29% of the company’s stock.

Institutional Trading of Gilead Sciences

Several hedge funds have recently bought and sold shares of GILD. OFI Invest Asset Management bought a new position in shares of Gilead Sciences during the 3rd quarter valued at approximately $26,000. Tompkins Financial Corp boosted its position in shares of Gilead Sciences by 223.1% in the third quarter. Tompkins Financial Corp now owns 349 shares of the biopharmaceutical company’s stock worth $26,000 after purchasing an additional 241 shares during the period. Fortitude Family Office LLC bought a new stake in shares of Gilead Sciences during the 4th quarter valued at $29,000. Private Wealth Management Group LLC bought a new stake in shares of Gilead Sciences during the 4th quarter valued at $29,000. Finally, Sachetta LLC purchased a new position in shares of Gilead Sciences during the 4th quarter valued at $30,000. 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.