Ninety One UK Ltd Buys New Shares in Gilead Sciences, Inc. $GILD

Key Points

• Ninety One UK Ltd. acquired 9,313 Gilead shares worth approximately $1.39 million in the third quarter, while institutional investors and hedge funds collectively own 83.67% of the stock.
• Gilead insiders sold 105,000 shares worth about $14.94 million during the latest quarter, though the transactions were conducted under pre-arranged Rule 10b5-1 trading plans.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $159.33; recent targets range from $126 to $175.

Ninety One UK Ltd bought a new stake in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 9,313 shares of the biopharmaceutical company's stock, valued at approximately $1,388,000.

A number of other institutional investors have also recently made changes to their positions in GILD. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Gilead Sciences during the fourth quarter worth approximately $25,000. Persistent Asset Partners Ltd acquired a new position in Gilead Sciences in the 2nd quarter valued at $25,000. Kimelman & Baird LLC acquired a new position in Gilead Sciences in the 2nd quarter valued at $25,000. Wealth Preservation Advisors LLC lifted its holdings in 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 in the last quarter. Finally, Wiser Advisor Group LLC purchased a new position in Gilead Sciences in the 2nd quarter valued at $30,000. 83.67% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Gilead Sciences news, Director Jeffrey Bluestone sold 5,000 shares of the firm's stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $145.02, for a total value of $725,100.00. Following the completion of the sale, the director directly owned 10,066 shares of the company's stock, valued at $1,459,771.32. This trade represents a 33.19% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 Gilead Sciences 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 owned 116,684 shares in the company, valued at approximately $16,828,166.48. This represents a 2.51% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 105,000 shares of company stock worth $14,940,540 over the last quarter. Corporate insiders own 0.30% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on GILD shares. Bank of America reaffirmed a "buy" rating and set a $164.00 target price on shares of Gilead Sciences in a research note on Monday. JPMorgan Chase & Co. upped their target price on shares of Gilead Sciences from $160.00 to $170.00 and gave the stock an "overweight" rating in a report on Wednesday, October 7th. Royal Bank Of Canada increased their target price on shares of Gilead Sciences from $123.00 to $126.00 and gave the company a "sector perform" rating in a research report on Thursday, October 8th. Truist Financial raised their price target on shares of Gilead Sciences from $150.00 to $158.00 and gave the stock a "buy" rating in a research note on Wednesday, October 7th. Finally, HSBC raised their price target on shares of Gilead Sciences from $155.00 to $175.00 and gave the stock a "buy" rating in a research note on Thursday, September 10th. Twenty-three equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $159.33.

Key Gilead Sciences News

Here are the key news stories impacting Gilead Sciences this week:

• Positive Sentiment: Expansion of solid-tumor oncology pipeline: Gilead agreed to collaborate with Vir Biotechnology on three novel, dual-masked PRO-XTEN® T-cell engagers targeting solid tumors. Gilead receives exclusive development and commercialization rights, giving it access to Vir’s immunology and antibody-engineering platform. The agreement could provide Vir with up to approximately $1.9 billion, including as much as $1.74 billion in milestone payments, if development and commercial targets are achieved. Gilead and Vir forge $1.9bn pact to develop next-gen T-cell engagers
• Positive Sentiment: Investor reaction and defensive-sector support: The Vir deal reinforces Gilead’s continuing investment in T-cell engagers and oncology, following its acquisition of Ouro Medicines. Separately, shares of major pharmaceutical companies, including Gilead, were near record levels as a technology-sector selloff encouraged investors to favor perceived defensive businesses. Can Gilead's Deal With VIR Boost Its Oncology Pipeline and Growth?
• Neutral Sentiment: Momentum and attention are elevated: Gilead cleared a prior February high and attracted increased attention from Zacks users. These signals may support near-term momentum, but they do not change the company’s underlying earnings outlook. Gilead Sciences Clears Its February High
• Negative Sentiment: Development risk remains: The oncology programs are early-stage assets, so milestone-based economics depend on successful clinical development, regulatory approval and eventual commercialization. Analysts also have mixed views on Gilead, limiting the strength of the bullish signal. Analysts Have Conflicting Sentiments on Gilead Sciences

Gilead Sciences Price Performance

GILD stock opened at $157.37 on Friday. 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 business has a 50 day simple moving average of $146.73 and a 200-day simple moving average of $137.15. The firm has a market capitalization of $195.13 billion, a PE ratio of -58.94 and a beta of 0.31. Gilead Sciences, Inc. has a 1 year low of $114.02 and a 1 year high of $160.51.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last posted 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. 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 during the quarter, compared to analysts' expectations of $7.40 billion. During the same quarter last year, the firm earned $2.01 earnings per share. The business's revenue for the quarter was up 10.6% on a year-over-year basis. Equities research analysts anticipate that Gilead Sciences, Inc. will post -0.47 earnings per share for the current fiscal year.

Gilead Sciences Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 15th were paid a dividend of $0.82 per share. The ex-dividend date of this dividend was Tuesday, September 15th. This represents a $3.28 dividend on an annualized basis and a yield of 2.1%. Gilead Sciences's payout ratio is -122.85%.

Gilead Sciences 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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