Gilead Sciences (NASDAQ:GILD) Price Target Raised to $112.00

Key Points

• UBS Group has raised its target price for Gilead Sciences from $108 to $112, maintaining a "neutral" rating, which indicates a potential downside of 6.48% from the stock's previous close.
• Gilead Sciences has received a mix of ratings from various analysts, with Needham & Company upgrading it to "buy" with a $133 target price, while the consensus price target among analysts is currently at $114.45.
• Shares of Gilead Sciences increased by 8.6%, trading at $119.77, and the company recently reported earnings of $2.01 per share, exceeding analysts' expectations.

Gilead Sciences (NASDAQ:GILD - Get Free Report) had its price target increased by UBS Group from $108.00 to $112.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has a "neutral" rating on the biopharmaceutical company's stock. UBS Group's price objective indicates a potential downside of 6.67% from the stock's current price.

Other analysts have also recently issued research reports about the stock. Oppenheimer lowered their price objective on shares of Gilead Sciences from $132.00 to $125.00 and set an "outperform" rating on the stock in a research report on Friday, April 25th. Cantor Fitzgerald began coverage on shares of Gilead Sciences in a research report on Tuesday, April 22nd. They set an "overweight" rating and a $125.00 price objective on the stock. Needham & Company LLC upgraded shares of Gilead Sciences from a "hold" rating to a "buy" rating and set a $133.00 price objective on the stock in a research report on Friday, July 25th. Morgan Stanley raised their price objective on shares of Gilead Sciences from $130.00 to $135.00 and gave the company an "overweight" rating in a research report on Friday, April 25th. Finally, Truist Financial upgraded shares of Gilead Sciences from a "hold" rating to a "buy" rating and raised their price objective for the company from $108.00 to $127.00 in a research report on Friday. Seven equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Gilead Sciences currently has a consensus rating of "Moderate Buy" and a consensus target price of $114.82.

Gilead Sciences Price Performance

NASDAQ:GILD traded down $0.46 during trading hours on Friday, hitting $120.01. The stock had a trading volume of 639,576 shares, compared to its average volume of 8,370,327. The company has a 50 day simple moving average of $111.16 and a two-hundred day simple moving average of $107.83. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.32 and a quick ratio of 1.15. Gilead Sciences has a one year low of $72.67 and a one year high of $121.82. The firm has a market capitalization of $148.90 billion, a price-to-earnings ratio of 23.92, a P/E/G ratio of 0.75 and a beta of 0.33.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The biopharmaceutical company reported $2.01 earnings per share for the quarter, beating the consensus estimate of $1.96 by $0.05. The firm had revenue of $7.08 billion for the quarter, compared to analysts' expectations of $6.95 billion. Gilead Sciences had a net margin of 21.86% and a return on equity of 50.99%. The business's quarterly revenue was up 1.4% on a year-over-year basis. During the same quarter last year, the company posted $2.01 EPS. Research analysts forecast that Gilead Sciences will post 7.95 earnings per share for the current fiscal year.

Insider Activity at Gilead Sciences

In related news, CEO Daniel Patrick O'day sold 10,000 shares of the business's stock in a transaction dated Monday, June 30th. The shares were sold at an average price of $110.45, for a total transaction of $1,104,500.00. Following the transaction, the chief executive officer owned 615,725 shares in the company, valued at $68,006,826.25. The trade was a 1.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Johanna Mercier sold 28,000 shares of the business's stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $107.52, for a total transaction of $3,010,560.00. Following the transaction, the insider owned 121,152 shares in the company, valued at $13,026,263.04. This represents a 18.77% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 82,000 shares of company stock worth $8,984,175 over the last ninety days. Corporate insiders own 0.27% of the company's stock.

Institutional Investors Weigh In On Gilead Sciences

Several hedge funds have recently bought and sold shares of the business. Brighton Jones LLC lifted its stake in shares of Gilead Sciences by 20.6% in the fourth quarter. Brighton Jones LLC now owns 14,359 shares of the biopharmaceutical company's stock worth $1,326,000 after buying an additional 2,450 shares in the last quarter. Trexquant Investment LP purchased a new stake in Gilead Sciences in the fourth quarter worth approximately $523,000. Bessemer Group Inc. boosted its holdings in Gilead Sciences by 10.9% in the fourth quarter. Bessemer Group Inc. now owns 97,167 shares of the biopharmaceutical company's stock worth $8,974,000 after purchasing an additional 9,573 shares during the last quarter. Scotia Capital Inc. boosted its holdings in Gilead Sciences by 9.5% in the fourth quarter. Scotia Capital Inc. now owns 162,749 shares of the biopharmaceutical company's stock worth $15,033,000 after purchasing an additional 14,125 shares during the last quarter. Finally, Legacy Financial Advisors Inc. purchased a new stake in Gilead Sciences in the fourth quarter worth approximately $295,000. Institutional investors own 83.67% of the company's stock.

About Gilead Sciences

Gilead Sciences, Inc, a biopharmaceutical company, discovers, develops, and commercializes medicines in the areas of unmet medical need in the United States, Europe, and internationally. The company provides Biktarvy, Genvoya, Descovy, Odefsey, Truvada, Complera/ Eviplera, Stribild, Sunlencs, and Atripla products for the treatment of HIV/AIDS; Veklury, an injection for intravenous use, for the treatment of COVID-19; and Epclusa, Harvoni, Vemlidy, and Viread for the treatment of viral hepatitis.