Gilead Sciences (NASDAQ:GILD) Upgraded to Buy at Wall Street Zen

Key Points

• Wall Street Zen upgraded Gilead Sciences to “buy” from “hold,” while the broader analyst consensus remains “Moderate Buy” with an average price target of $158.78.
• Gilead shares opened at $150.11, near their 12-month high of $157.29. The company’s latest quarterly results beat expectations, with revenue rising 10.6% year over year to $7.80 billion.
• Company insiders sold shares during the quarter, including sales by the CEO and CFO totaling 105,000 shares worth about $14.6 million; institutional investors own 83.67% of the stock.

Gilead Sciences (NASDAQ:GILD - Get Free Report) was upgraded by Wall Street Zen from a "hold" rating to a "buy" rating in a research note issued to investors on Saturday, Wall Street Zen reports.

Other research analysts have also issued research reports about the stock. Needham & Company LLC reaffirmed a "buy" rating and issued a $170.00 target price on shares of Gilead Sciences in a research note on Wednesday, August 5th. Leerink Partners downgraded shares of Gilead Sciences from an "outperform" rating to a "market perform" rating and dropped their price target for the stock from $146.00 to $127.00 in a research note on Tuesday, July 21st. Zacks Research raised shares of Gilead Sciences from a "hold" rating to a "strong-buy" rating in a research note on Monday, August 31st. Royal Bank Of Canada lifted their target price on shares of Gilead Sciences from $120.00 to $123.00 and gave the stock a "sector perform" rating in a report on Wednesday, August 5th. Finally, HSBC upped their target price on shares of Gilead Sciences from $155.00 to $175.00 and gave the company a "buy" rating in a research report on Thursday, September 10th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $158.78.

Gilead Sciences Stock Down 0.5%

Shares of NASDAQ GILD opened at $150.11 on Friday. Gilead Sciences has a 12-month low of $108.46 and a 12-month high of $157.29. The firm's 50-day simple moving average is $139.98 and its 200 day simple moving average is $136.32. The company has a quick ratio of 1.09, a current ratio of 1.27 and a debt-to-equity ratio of 2.03. The company has a market cap of $186.13 billion, a price-to-earnings ratio of -56.22 and a beta of 0.33.

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

Insider Activity at Gilead Sciences

In related news, CFO Andrew D. Dickinson sold 3,000 shares of the firm's stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $145.29, for a total transaction of $435,870.00. Following the sale, the chief financial officer owned 164,096 shares of the company's stock, valued at approximately $23,841,507.84. This trade represents a 1.80% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed 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 dated 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 transaction, the chief executive officer owned 577,133 shares in the company, valued at approximately $85,785,049.12. This represents a 2.53% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 105,000 shares of company stock valued at $14,616,390. 0.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Gilead Sciences

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

About Gilead Sciences

Gilead Sciences, Inc is a biopharmaceutical company that discovers, develops and commercializes medicines for serious and life-threatening diseases. The company's research focuses primarily on virology, oncology, inflammation and related areas, with products serving patients in the United States and international markets.

Gilead is best known for its HIV treatments, including Biktarvy, Genvoya, Descovy and other antiretroviral therapies. Its portfolio also includes medicines for viral hepatitis, such as Epclusa and Vemlidy, and Veklury (remdesivir), an antiviral treatment for COVID-19.

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