BMO Capital Markets Increases Gilead Sciences (NASDAQ:GILD) Price Target to $102.00

Gilead Sciences (NASDAQ:GILD) had its target price raised by BMO Capital Markets from $94.00 to $102.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the biopharmaceutical company’s stock. BMO Capital Markets’ target price indicates a potential upside of 4.95% from the company’s current price.

Several other analysts have also recently weighed in on the stock. Royal Bank of Canada upped their price objective on shares of Gilead Sciences from $75.00 to $81.00 and gave the stock a “sector perform” rating in a research note on Thursday. Truist Financial upped their price objective on shares of Gilead Sciences from $82.00 to $83.00 and gave the stock a “hold” rating in a research note on Thursday, August 15th. Piper Sandler upped their price objective on shares of Gilead Sciences from $95.00 to $105.00 and gave the stock an “overweight” rating in a research note on Thursday. Evercore ISI raised shares of Gilead Sciences to a “strong-buy” rating in a research note on Friday, August 9th. Finally, Cantor Fitzgerald upped their target price on shares of Gilead Sciences from $70.00 to $80.00 and gave the stock a “neutral” rating in a research report on Thursday. Eleven equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $90.05.

Gilead Sciences Price Performance

NASDAQ GILD traded up $5.50 on Thursday, reaching $97.19. The company’s stock had a trading volume of 8,544,501 shares, compared to its average volume of 7,018,311. The firm has a market cap of $121.00 billion, a PE ratio of 118.59, a price-to-earnings-growth ratio of 3.13 and a beta of 0.17. The business has a 50-day moving average price of $84.58 and a 200 day moving average price of $74.67. Gilead Sciences has a 52 week low of $62.07 and a 52 week high of $98.32. The company has a current ratio of 1.14, a quick ratio of 0.95 and a debt-to-equity ratio of 1.18.

Gilead Sciences (NASDAQ:GILD) last posted its earnings results on Wednesday, November 6th. The biopharmaceutical company reported $2.02 earnings per share for the quarter, beating analysts’ consensus estimates of $1.58 by $0.44. The business had revenue of $7.55 billion for the quarter, compared to analysts’ expectations of $7.01 billion. Gilead Sciences had a net margin of 3.79% and a return on equity of 29.34%. The firm’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.29 earnings per share. Sell-side analysts expect that Gilead Sciences will post 3.75 EPS for the current year.

Insider Buying and Selling

In related news, insider Merdad Parsey sold 2,000 shares of the 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 sale, the insider now owns 100,189 shares in the company, valued at approximately $8,398,843.87. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Gilead Sciences news, insider Merdad Parsey sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $83.83, for a total value of $167,660.00. Following the sale, the insider now owns 100,189 shares in the company, valued at $8,398,843.87. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Johanna Mercier sold 29,357 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $83.78, for a total transaction of $2,459,529.46. Following the completion of the sale, the insider now owns 78,127 shares in the company, valued at $6,545,480.06. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 36,847 shares of company stock worth $3,033,340. Corporate insiders own 0.29% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. GSA Capital Partners LLP purchased a new position in Gilead Sciences during the first quarter worth about $462,000. Envestnet Portfolio Solutions Inc. boosted its holdings in Gilead Sciences by 31.8% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 112,743 shares of the biopharmaceutical company’s stock worth $8,258,000 after purchasing an additional 27,211 shares during the last quarter. Quantbot Technologies LP purchased a new position in Gilead Sciences during the first quarter worth about $573,000. AIA Group Ltd purchased a new position in Gilead Sciences during the first quarter worth about $1,684,000. Finally, SG Americas Securities LLC raised its position in shares of Gilead Sciences by 51.2% in the first quarter. SG Americas Securities LLC now owns 154,992 shares of the biopharmaceutical company’s stock valued at $11,353,000 after purchasing an additional 52,494 shares during the period. 83.67% of the stock is currently owned by institutional investors and hedge funds.

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.