Gilead Sciences (NASDAQ:GILD) Stock Gets Price Target Boost from JPMorgan Chase & Co.

Key Points

• JPMorgan raised Gilead Sciences’ price target from $160 to $170 and maintained an “overweight” rating, implying approximately 15.17% upside from the reported share price.
• Analyst sentiment remains positive overall, with 23 Buy ratings and six Holds contributing to a “Moderate Buy” consensus and an average price target of $159.07, despite mixed revisions from other firms.
• Gilead shares rose 2.3% to $147.61, while the company reported quarterly revenue of $7.8 billion that exceeded estimates and earnings that were better than expected; institutional investors own 83.67% of the stock.

Gilead Sciences (NASDAQ:GILD - Get Free Report) had its price objective upped by JPMorgan Chase & Co. from $160.00 to $170.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm currently has an "overweight" rating on the biopharmaceutical company's stock. JPMorgan Chase & Co.'s price objective would suggest a potential upside of 15.17% from the company's current price.

GILD has been the topic of several other reports. Barclays lowered their price objective on shares of Gilead Sciences from $155.00 to $145.00 and set an "equal weight" rating on the stock in a research note on Wednesday, July 29th. Morgan Stanley cut their price objective on Gilead Sciences from $165.00 to $163.00 and set an "overweight" rating for the company in a research report on Wednesday. HSBC raised their price target on Gilead Sciences from $155.00 to $175.00 and gave the company a "buy" rating in a report on Thursday, September 10th. Weiss Ratings upgraded shares of Gilead Sciences from a "hold (c-)" rating to a "hold (c)" rating in a research note on Monday, September 14th. Finally, Zacks Research cut shares of Gilead Sciences from a "strong-buy" rating to a "hold" rating in a report on Tuesday, September 29th. Twenty-three investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, Gilead Sciences currently has a consensus rating of "Moderate Buy" and an average price target of $159.07.

Gilead Sciences Stock Up 2.3%

GILD traded up $3.38 on Wednesday, hitting $147.61. 1,434,316 shares of the company were exchanged, compared to its average volume of 6,826,267. The stock's fifty day moving average is $144.11 and its 200-day moving average is $136.51. Gilead Sciences has a 12 month low of $114.02 and a 12 month high of $157.29. The company has a debt-to-equity ratio of 2.03, a quick ratio of 1.09 and a current ratio of 1.27. The company has a market cap of $183.03 billion, a PE ratio of -55.39 and a beta of 0.31.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last announced its quarterly earnings data on Monday, August 3rd. The biopharmaceutical company reported ($6.75) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($7.25) by $0.50. The company had revenue of $7.80 billion for the quarter, compared to analysts' expectations of $7.40 billion. Gilead Sciences had a negative return on equity of 2.11% and a negative net margin of 10.64%.The business's revenue was up 10.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.01 EPS. Equities research analysts predict that Gilead Sciences will post -0.48 EPS for the current fiscal year.

Insider Transactions at Gilead Sciences

In related news, CFO Andrew Dickinson sold 3,000 shares of the firm's stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $145.29, for a total value of $435,870.00. Following the sale, the chief financial officer directly owned 164,096 shares of the company's stock, valued at $23,841,507.84. This trade represents a 1.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Daniel O'Day sold 15,000 shares of Gilead Sciences stock in a transaction that occurred on Thursday, October 1st. The shares were sold at an average price of $147.90, for a total transaction of $2,218,500.00. Following the sale, the chief executive officer directly owned 566,683 shares in the company, valued at $83,812,415.70. This trade represents a 2.58% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 105,000 shares of company stock worth $14,940,540. 0.30% of the stock is owned by insiders.

Institutional Investors Weigh In On Gilead Sciences

Hedge funds and other institutional investors have recently bought and sold shares of the company. Aviva PLC boosted its position in Gilead Sciences by 5.4% during the 4th quarter. Aviva PLC now owns 1,156,738 shares of the biopharmaceutical company's stock valued at $141,978,000 after buying an additional 59,782 shares during the period. Bank of Nova Scotia purchased a new position in shares of Gilead Sciences in the second quarter valued at about $100,056,000. OMERS ADMINISTRATION Corp purchased a new stake in shares of Gilead Sciences during the second quarter worth about $55,754,000. Groupe la Francaise grew its stake in shares of Gilead Sciences by 30.9% in the second quarter. Groupe la Francaise now owns 49,627 shares of the biopharmaceutical company's stock worth $6,270,000 after purchasing an additional 11,712 shares during the last quarter. Finally, Baird Financial Group Inc. grew its stake in shares of Gilead Sciences by 3.6% in the second quarter. Baird Financial Group Inc. now owns 292,295 shares of the biopharmaceutical company's stock worth $36,929,000 after purchasing an additional 10,206 shares during the last quarter. Institutional investors own 83.67% of the company's stock.

Gilead Sciences Company Profile

Gilead Sciences, Inc NASDAQ: GILD is a biopharmaceutical company that discovers, develops and commercializes medicines for serious and life-threatening diseases. Its research and commercial activities focus primarily on virology, including HIV, hepatitis B and hepatitis C, as well as oncology, inflammation and other areas of significant unmet medical need.

Gilead's portfolio includes HIV treatments such as Biktarvy, Descovy, Genvoya and Sunlenca; hepatitis therapies including Epclusa, Harvoni and Vemlidy; and Veklury (remdesivir), an antiviral used to treat COVID-19 in certain patients.

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