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

Key Points

• Gilead shares reached a new 52-week high of $160.83, trading near $159.37, supported by investor interest in the company’s HIV, oncology and newer-product growth prospects.
• Gilead secured Canadian public-reimbursement terms for LYVDELZI, potentially expanding access and adoption of the primary biliary cholangitis treatment. Investors are also watching Yeztugo momentum, oncology trial developments and upcoming third-quarter results.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and a $159.81 target, though rapid cash use, competitive pressures and recent ETF net selling could weigh on the stock.

Shares of Gilead Sciences, Inc. (NASDAQ:GILD - Get Free Report) hit a new 52-week high during trading on Wednesday. The company traded as high as $160.83 and last traded at $159.3710, with a volume of 1,737,812 shares trading hands. The stock had previously closed at $159.08.

Key Gilead Sciences News

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

• Positive Sentiment: Gilead completed negotiations with Canada’s pan-Canadian Pharmaceutical Alliance for LYVDELZI (seladelpar), reaching an agreement on terms for public reimbursement. The deal expands potential access to the primary biliary cholangitis treatment and could support future product adoption and revenue. Gilead Successfully Completes Negotiations With Pan-Canadian Pharmaceutical Alliance for LYVDELZI
• Positive Sentiment: An analysis argued that Gilead could be materially undervalued following new oncology trial news, adding to investor interest in the company’s longer-term pipeline beyond its established HIV franchise. Gilead Stock Could Be 50% Undervalued on New Oncology Trial News
• Positive Sentiment: Pre-earnings coverage highlights resilient HIV sales, early Yeztugo momentum, and expanding oncology prospects as potential catalysts for Gilead’s third-quarter results. Gilead to Report Q3 Earnings
• Neutral Sentiment: Investors are awaiting Gilead’s third-quarter earnings report, with attention likely focused on revenue and earnings, HIV demand, Yeztugo commercialization, cash flow, and pipeline updates. Gilead Sciences Earnings: What to Look For
• Negative Sentiment: Analysts and financial commentary flag rapid cash use and competitive pressures as risks ahead of earnings. ETF net selling of Gilead shares also represents a near-term source of supply, potentially limiting upside. ETFs Are Net Sellers of Gilead Sciences

Analyst Upgrades and Downgrades

GILD has been the topic of several recent analyst reports. HSBC lifted their price objective 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. Morgan Stanley lowered their target price on shares of Gilead Sciences from $165.00 to $163.00 and set an "overweight" rating for the company in a research note on Wednesday, October 7th. Bank of America increased their target price on shares of Gilead Sciences from $168.00 to $172.00 and gave the stock a "buy" rating in a report on Tuesday, October 20th. JPMorgan Chase & Co. lifted their price target on shares of Gilead Sciences from $160.00 to $170.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 7th. Finally, Truist Financial boosted their price target on shares of Gilead Sciences from $150.00 to $158.00 and gave the company a "buy" rating in a report on Wednesday, October 7th. 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.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $159.81.

Gilead Sciences Price Performance

The company has a 50-day moving average of $149.65 and a 200-day moving average of $139.13. The company has a debt-to-equity ratio of 2.03, a quick ratio of 1.09 and a current ratio of 1.27. The firm has a market capitalization of $197.86 billion, a price-to-earnings ratio of -59.82 and a beta of 0.31.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last announced its earnings results 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 firm had revenue of $7.80 billion for the quarter, compared to the consensus estimate of $7.40 billion. During the same period last year, the company posted $2.01 EPS. The business's quarterly revenue was up 10.6% on a year-over-year basis. As a group, research analysts anticipate that Gilead Sciences, Inc. will post -0.48 EPS for the current fiscal year.

Insider Buying and Selling at Gilead Sciences

In other Gilead Sciences news, Director Anthony Welters sold 18,000 shares of the stock in a transaction dated 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 completion of the transaction, the director owned 12,894 shares in the company, valued at approximately $1,916,306.28. This represents a 58.26% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 Gilead Sciences stock in a transaction dated Thursday, October 15th. The shares were sold at an average price of $156.22, for a total value of $468,660.00. Following the completion of the sale, the insider directly owned 113,684 shares in the company, valued at $17,759,714.48. This represents a 2.57% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 111,000 shares of company stock valued at $15,877,860 over the last quarter. 0.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. BlackRock Inc. bought a new position in shares of Gilead Sciences during the 2nd quarter worth approximately $15,393,785,000. Legal & General Group Plc acquired a new stake in shares of Gilead Sciences in the second quarter valued at approximately $1,316,606,000. Deutsche Bank AG bought a new stake in shares of Gilead Sciences in the second quarter worth $918,387,000. Jupiter Topco LLC bought a new stake in shares of Gilead Sciences in the second quarter worth $448,021,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of Gilead Sciences in the second quarter worth $398,905,000. 83.67% of the stock is currently owned by institutional investors.

Gilead Sciences Company Profile

Gilead Sciences, Inc is a biopharmaceutical company that discovers, develops and commercializes medicines for serious and life-threatening diseases. The company is best known for its HIV treatments, including Biktarvy, Descovy, Genvoya and Truvada, as well as therapies for chronic hepatitis B and hepatitis C. Its portfolio also includes Veklury (remdesivir), an antiviral treatment for COVID-19.

Gilead has expanded into oncology and cell therapy through products such as Trodelvy and the CAR T-cell therapies Yescarta and Tecartus, which are developed and marketed through its Kite subsidiary.

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