HSBC Issues Positive Forecast for Gilead Sciences (NASDAQ:GILD) Stock Price

Key Points

• HSBC raised its price target for Gilead Sciences to $175 from $155 and maintained a “buy” rating, implying 20.69% upside from the previous close.
• Analyst sentiment remains favorable overall, with Gilead holding a “Moderate Buy” consensus rating and an average price target of $158.78, despite some recent target reductions and a downgrade.
• Gilead beat quarterly expectations, reporting adjusted EPS of -$6.75 versus the -$7.25 consensus and revenue of $7.80 billion versus $7.40 billion estimates; however, insiders have sold 105,000 shares worth approximately $14.5 million over the past 90 days.

Gilead Sciences (NASDAQ:GILD - Get Free Report) had its price objective increased by HSBC from $155.00 to $175.00 in a research note issued to investors on Thursday, Benzinga reports. The firm presently has a "buy" rating on the biopharmaceutical company's stock. HSBC's price objective would indicate a potential upside of 20.69% from the company's previous close.

GILD has been the subject of a number of other reports. Leerink Partners cut shares of Gilead Sciences from an "outperform" rating to a "market perform" rating and reduced their price objective for the stock from $146.00 to $127.00 in a research report on Tuesday, July 21st. Wall Street Zen cut Gilead Sciences from a "buy" rating to a "hold" rating in a report on Saturday, September 5th. Truist Financial lowered their target price on shares of Gilead Sciences from $157.00 to $156.00 and set a "buy" rating for the company in a research note on Tuesday, July 7th. Daiwa Securities Group dropped their price objective on Gilead Sciences from $161.00 to $150.00 and set an "outperform" rating for the company in a research note on Tuesday, May 19th. Finally, Maxim Group raised shares of Gilead Sciences from a "hold" rating to a "buy" rating and set a $165.00 target price on the stock in a research note on Wednesday, May 20th. One analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $158.78.

Gilead Sciences Stock Down 0.4%

Shares of Gilead Sciences stock opened at $145.00 on Thursday. The stock has a market cap of $179.80 billion, a price-to-earnings ratio of -54.35 and a beta of 0.33. Gilead Sciences has a 1 year low of $108.46 and a 1 year high of $157.29. 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 firm's 50-day moving average is $137.96 and its two-hundred day moving average is $136.28.

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

Insider Buying and Selling at Gilead Sciences

In related news, Director Anthony Welters sold 18,000 shares of the stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $148.62, for a total transaction of $2,675,160.00. Following the sale, the director owned 12,894 shares of the company's stock, valued at $1,916,306.28. This trade represents a 58.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Andrew D. Dickinson sold 3,000 shares of the company's stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $138.36, for a total transaction of $415,080.00. Following the completion of the transaction, the chief financial officer owned 165,646 shares in the company, valued at approximately $22,918,780.56. This trade represents a 1.78% 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. Over the last ninety days, insiders have sold 105,000 shares of company stock worth $14,495,820. Insiders own 0.30% of the company's stock.

Institutional Investors Weigh In On Gilead Sciences

A number of hedge funds and other institutional investors have recently modified their holdings of GILD. Aviva PLC lifted its position in shares of 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 acquiring an additional 59,782 shares during the period. Life Cycle Investment Partners Ltd bought a new position in shares of Gilead Sciences during the 4th quarter worth about $1,418,000. Bank of Nova Scotia acquired a new stake in shares of Gilead Sciences in the 2nd quarter valued at about $100,056,000. OMERS ADMINISTRATION Corp acquired a new stake in shares of Gilead Sciences in the 2nd quarter valued at about $55,754,000. Finally, Harvest Fund Management Co. Ltd increased its position in Gilead Sciences by 14.4% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 106,526 shares of the biopharmaceutical company's stock valued at $13,075,000 after buying an additional 13,385 shares in the last quarter. 83.67% of the stock is currently owned by hedge funds and other institutional investors.

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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