Gilead Sciences (NASDAQ:GILD) Stock Rating Cut to "Hold" at Zacks Research

Key Points

• Zacks Research downgraded Gilead Sciences from “strong buy” to “hold,” although the broader analyst consensus remains “Moderate Buy” with an average price target of $158.78.
• Gilead shares opened at $149.05, down 1.5%, while the company reported quarterly revenue of $7.8 billion—above expectations—and year-over-year revenue growth of 10.6%.
• Insiders sold 90,000 shares worth approximately $12.7 million over the past 90 days, while institutional investors and hedge funds collectively own 83.67% of the company.

Gilead Sciences (NASDAQ:GILD - Get Free Report) was downgraded by Zacks Research from a "strong-buy" rating to a "hold" rating in a research report issued to clients and investors on Tuesday, Zacks reports.

GILD has been the subject of a number of other reports. Morgan Stanley lowered their price target on Gilead Sciences from $166.00 to $165.00 and set an "overweight" rating for the company in a report on Monday, July 27th. Cantor Fitzgerald restated an "overweight" rating and issued a $155.00 price objective on shares of Gilead Sciences in a report on Wednesday, August 5th. Truist Financial decreased their target price on shares of Gilead Sciences from $157.00 to $156.00 and set a "buy" rating on the stock in a research report on Tuesday, July 7th. Needham & Company LLC reaffirmed a "buy" rating and set a $170.00 target price on shares of Gilead Sciences in a research note on Wednesday, August 5th. Finally, Weiss Ratings upgraded shares of Gilead Sciences from a "hold (c-)" rating to a "hold (c)" rating in a research report on Monday, September 14th. Twenty-three equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat.com, Gilead Sciences has a consensus rating of "Moderate Buy" and an average price target of $158.78.

Gilead Sciences Stock Down 1.5%

Shares of NASDAQ GILD opened at $149.05 on Tuesday. The company has a market capitalization of $184.82 billion, a P/E ratio of -55.82 and a beta of 0.33. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.27 and a quick ratio of 1.09. The company has a 50 day simple moving average of $142.99 and a 200-day simple moving average of $136.47. Gilead Sciences has a 1 year low of $108.46 and a 1 year high of $157.29.

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

Insider Buying and Selling at Gilead Sciences

In related news, CEO Daniel O'Day sold 15,000 shares of Gilead Sciences stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $148.64, for a total value of $2,229,600.00. Following the completion of the transaction, the chief executive officer directly owned 577,133 shares in the company, valued at approximately $85,785,049.12. This trade represents a 2.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Johanna Mercier sold 3,000 shares of the business's stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $144.22, for a total value of $432,660.00. Following the transaction, the insider directly owned 116,684 shares of the company's stock, valued at $16,828,166.48. The trade was a 2.51% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 90,000 shares of company stock valued at $12,722,040. Insiders own 0.30% of the company's stock.

Institutional Investors Weigh In On Gilead Sciences

Hedge funds have recently bought and sold shares of the stock. Persistent Asset Partners Ltd acquired a new stake in Gilead Sciences in the second quarter valued at approximately $25,000. Strategic Investment Solutions Inc. IL acquired a new position in Gilead Sciences during the 4th quarter worth approximately $25,000. Kimelman & Baird LLC acquired a new position in Gilead Sciences during the 2nd quarter worth approximately $25,000. Wealth Preservation Advisors LLC increased its position in shares of Gilead Sciences by 60.0% in the 4th quarter. Wealth Preservation Advisors LLC now owns 216 shares of the biopharmaceutical company's stock valued at $27,000 after purchasing an additional 81 shares during the last quarter. Finally, Wilkerson Advisory Group LLC increased its position in shares of Gilead Sciences by 54.2% in the 1st quarter. Wilkerson Advisory Group LLC now owns 222 shares of the biopharmaceutical company's stock valued at $31,000 after purchasing an additional 78 shares during the last quarter. Institutional investors and hedge funds own 83.67% of the company's stock.

About Gilead Sciences

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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