Gilead Sciences (NASDAQ:GILD) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Gilead Sciences (NASDAQ:GILD) had its price objective upped by JPMorgan Chase & Co. from $105.00 to $115.00 in a report issued on Wednesday morning,Benzinga reports. They currently have an overweight rating on the biopharmaceutical company’s stock.

Several other research analysts also recently commented on the company. The Goldman Sachs Group raised their price objective on Gilead Sciences from $74.00 to $84.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Barclays lifted their price target on shares of Gilead Sciences from $84.00 to $95.00 and gave the company an “equal weight” rating in a report on Thursday, November 7th. Robert W. Baird increased their price objective on shares of Gilead Sciences from $80.00 to $95.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Citigroup assumed coverage on shares of Gilead Sciences in a research note on Thursday, November 14th. They set a “buy” rating and a $125.00 target price on the stock. Finally, Truist Financial raised their price target on Gilead Sciences from $83.00 to $97.00 and gave the company a “hold” rating in a report on Friday, November 8th. Eleven analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat.com, Gilead Sciences presently has an average rating of “Moderate Buy” and a consensus target price of $98.39.

Gilead Sciences Stock Performance

GILD opened at $95.59 on Wednesday. The company’s 50 day moving average is $92.00 and its 200 day moving average is $85.44. The company has a current ratio of 1.26, a quick ratio of 1.10 and a debt-to-equity ratio of 1.24. The company has a market cap of $119.13 billion, a price-to-earnings ratio of 1,062.11, a PEG ratio of 1.31 and a beta of 0.18. Gilead Sciences has a 12-month low of $62.07 and a 12-month high of $98.90.

Gilead Sciences (NASDAQ:GILD) last issued its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported $2.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.58 by $0.44. Gilead Sciences had a net margin of 0.45% and a return on equity of 29.00%. The firm had revenue of $7.55 billion during the quarter, compared to the consensus estimate of $7.01 billion. During the same quarter in the previous year, the firm posted $2.29 EPS. The company’s revenue for the quarter was up 7.0% compared to the same quarter last year. On average, equities research analysts predict that Gilead Sciences will post 4.36 EPS for the current year.

Insider Activity

In other news, Director Jeffrey Bluestone sold 6,788 shares of the stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $91.39, for a total value of $620,355.32. Following the sale, the director now directly owns 8,920 shares in the company, valued at approximately $815,198.80. This represents a 43.21 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Andrew D. Dickinson sold 248,645 shares of the business’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $92.76, for a total value of $23,064,310.20. Following the transaction, the chief financial officer now owns 138,919 shares of the company’s stock, valued at approximately $12,886,126.44. The trade was a 64.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 456,234 shares of company stock valued at $42,130,461 in the last ninety days. Insiders own 0.16% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in GILD. Algert Global LLC bought a new stake in shares of Gilead Sciences in the 2nd quarter valued at about $254,000. Creative Planning lifted its holdings in Gilead Sciences by 8.4% during the second quarter. Creative Planning now owns 188,594 shares of the biopharmaceutical company’s stock worth $12,939,000 after buying an additional 14,544 shares during the period. Quarry LP bought a new stake in Gilead Sciences during the 2nd quarter valued at $43,000. B. Riley Wealth Advisors Inc. increased its holdings in shares of Gilead Sciences by 25.1% in the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 35,674 shares of the biopharmaceutical company’s stock valued at $2,448,000 after acquiring an additional 7,155 shares during the period. Finally, SPC Financial Inc. raised its position in shares of Gilead Sciences by 18.2% in the 2nd quarter. SPC Financial Inc. now owns 4,980 shares of the biopharmaceutical company’s stock worth $342,000 after acquiring an additional 768 shares in the last quarter. Hedge funds and other institutional investors own 83.67% of the company’s stock.

Gilead Sciences Company Profile

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.