Gilead Sciences (NASDAQ:GILD) Hits New 52-Week High - Here's What Happened

Key Points

• Gilead shares reached a new 52-week high, trading as high as $160.51 and gaining 2.7%, supported by strong technical momentum and rising investor attention.
• Gilead and Vir Biotechnology announced a partnership to develop three masked T-cell engagers for solid tumors, expanding Gilead’s oncology pipeline beyond its established HIV and hepatitis businesses.
• Analyst sentiment remains broadly positive, with 23 Buy ratings and six Holds producing a “Moderate Buy” consensus and a $159.33 average price target, although some analysts have taken a more cautious stance.

Shares of Gilead Sciences, Inc. (NASDAQ:GILD - Get Free Report) hit a new 52-week high on Thursday. The stock traded as high as $160.51 and last traded at $159.0570, with a volume of 847,634 shares changing hands. The stock had previously closed at $153.54.

Gilead Sciences News Roundup

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

• Positive Sentiment: New solid-tumor cancer partnership: Gilead and Vir Biotechnology agreed to discover and develop three PRO-XTEN® dual-masked T-cell engagers targeting solid-t tumor-associated antigens. Gilead received exclusive rights to develop and commercialize the candidates, giving it access to Vir’s immunology, antibody-engineering and masking technology. The deal strengthens Gilead’s oncology pipeline and may diversify growth beyond its established HIV and hepatitis franchises. Vir Biotechnology and Gilead collaborate on novel cancer therapeutics
• Positive Sentiment: Constructive analyst sentiment: Recent coverage identifies Gilead among healthcare stocks viewed favorably by analysts. This supports investor confidence in the company’s earnings outlook, pipeline and shareholder-return profile, though other analyst commentary indicates that sentiment is not unanimous. Analysts Are Bullish on These Healthcare Stocks
• Neutral Sentiment: Strong technical performance: Gilead cleared a prior February peak and remains close to its 12-month high. The move can attract momentum investors, but the stock’s elevated position also increases the risk of profit-taking. Gilead Sciences Clears Its February High
• Neutral Sentiment: Investor attention is rising: Gilead has become a heavily watched stock on Zacks, but the article primarily highlights investor interest rather than a new earnings or guidance catalyst. Gilead Sciences Is Attracting Investor Attention

Wall Street Analyst Weigh In

A number of brokerages have commented on GILD. Weiss Ratings raised Gilead Sciences from a "hold (c-)" rating to a "hold (c)" rating in a research note on Monday, September 14th. Needham & Company LLC reiterated a "buy" rating and issued a $170.00 price objective on shares of Gilead Sciences in a research report on Wednesday, August 5th. Royal Bank Of Canada increased their price objective on Gilead Sciences from $123.00 to $126.00 and gave the company a "sector perform" rating in a research note on Thursday, October 8th. HSBC increased their price objective on Gilead Sciences from $155.00 to $175.00 and gave the company a "buy" rating in a research note on Thursday, September 10th. 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 research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $159.33.

Gilead Sciences Trading Up 2.7%

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 firm's fifty day moving average is $146.20 and its two-hundred day moving average is $136.99. The firm has a market cap of $195.57 billion, a P/E ratio of -59.21 and a beta of 0.31.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last issued its quarterly earnings data on Monday, August 3rd. The biopharmaceutical company reported ($6.75) EPS for the quarter, topping 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 business had revenue of $7.80 billion during the quarter, compared to analyst estimates of $7.40 billion. During the same period in the prior year, the business earned $2.01 EPS. The company's revenue for the quarter was up 10.6% on a year-over-year basis. Analysts predict that Gilead Sciences, Inc. will post -0.47 earnings per share for the current fiscal year.

Gilead Sciences Dividend Announcement

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

Insider Buying and Selling at Gilead Sciences

In other Gilead Sciences news, CFO Andrew Dickinson sold 3,000 shares of Gilead Sciences stock in a transaction that occurred 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 directly owned 164,096 shares of the company's stock, valued at approximately $23,841,507.84. The trade was a 1.80% decrease in their position. The transaction was disclosed in a legal 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, insider Johanna Mercier sold 3,000 shares of the company's stock in a transaction that occurred 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 $16,828,166.48. This trade represents a 2.51% decrease in their position. 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. In the last 90 days, insiders sold 105,000 shares of company stock worth $14,940,540. Insiders own 0.30% of the company's stock.

Hedge Funds Weigh In On Gilead Sciences

Institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in shares of Gilead Sciences during the second quarter worth $15,393,785,000. Legal & General Group Plc acquired a new stake in Gilead Sciences in the second quarter valued at $1,316,606,000. Deutsche Bank AG acquired a new stake in Gilead Sciences in the second quarter valued at $918,387,000. Jupiter Topco LLC purchased a new position in shares of Gilead Sciences in the 2nd quarter valued at about $448,021,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of Gilead Sciences during the 2nd quarter worth about $398,905,000. Institutional investors 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.