Bank of America Reiterates “Buy” Rating for Gilead Sciences (NASDAQ:GILD)

Gilead Sciences (NASDAQ:GILD)‘s stock had its “buy” rating reissued by investment analysts at Bank of America in a research note issued on Tuesday,Benzinga reports. They currently have a $109.00 price target on the biopharmaceutical company’s stock. Bank of America‘s target price suggests a potential upside of 20.32% from the stock’s current price.

A number of other brokerages have also commented on GILD. Needham & Company LLC reaffirmed a “hold” rating on shares of Gilead Sciences in a research note on Thursday, November 7th. Robert W. Baird lifted their target price on shares of Gilead Sciences from $80.00 to $95.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Maxim Group downgraded shares of Gilead Sciences from a “buy” rating to a “hold” rating in a research note on Friday, November 8th. Leerink Partners raised Gilead Sciences from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $74.00 to $96.00 in a research report on Monday, October 21st. Finally, Cantor Fitzgerald increased their target price on Gilead Sciences from $70.00 to $80.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Twelve investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat, Gilead Sciences has a consensus rating of “Moderate Buy” and a consensus target price of $96.43.

Gilead Sciences Price Performance

GILD stock opened at $90.59 on Tuesday. The stock has a market capitalization of $112.90 billion, a price-to-earnings ratio of 1,006.56, a PEG ratio of 2.86 and a beta of 0.18. The firm’s 50-day moving average price is $89.33 and its two-hundred day moving average price is $78.89. The company has a current ratio of 1.26, a quick ratio of 1.10 and a debt-to-equity ratio of 1.24. Gilead Sciences has a 12-month low of $62.07 and a 12-month high of $98.90.

Gilead Sciences (NASDAQ:GILD) last announced its quarterly earnings results 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 return on equity of 29.00% and a net margin of 0.45%. The company had revenue of $7.55 billion for the quarter, compared to the consensus estimate of $7.01 billion. During the same quarter in the previous year, the business earned $2.29 EPS. Gilead Sciences’s revenue was up 7.0% compared to the same quarter last year. As a group, equities analysts predict that Gilead Sciences will post 4.37 earnings per share for the current year.

Insider Buying and Selling

In other Gilead Sciences news, 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 transaction of $23,064,310.20. Following the completion of the sale, the chief financial officer now directly owns 138,919 shares in the company, valued at approximately $12,886,126.44. The trade was a 64.16 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Johanna Mercier sold 29,357 shares of the firm’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $83.78, for a total value of $2,459,529.46. Following the completion of the transaction, the insider now owns 78,127 shares in the company, valued at approximately $6,545,480.06. This trade represents a 27.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 476,591 shares of company stock worth $43,747,615. 0.29% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Gilead Sciences

Several institutional investors have recently made changes to their positions in the business. Bellevue Group AG raised its position in Gilead Sciences by 18.2% in the third quarter. Bellevue Group AG now owns 46,027 shares of the biopharmaceutical company’s stock worth $3,859,000 after acquiring an additional 7,093 shares during the period. Quantinno Capital Management LP increased its position in Gilead Sciences by 149.5% in the third quarter. Quantinno Capital Management LP now owns 81,620 shares of the biopharmaceutical company’s stock worth $6,843,000 after buying an additional 48,910 shares in the last quarter. Legal & General Group Plc lifted its position in shares of Gilead Sciences by 0.8% during the 2nd quarter. Legal & General Group Plc now owns 12,414,268 shares of the biopharmaceutical company’s stock valued at $851,743,000 after buying an additional 93,068 shares in the last quarter. IRON Financial LLC bought a new position in shares of Gilead Sciences during the 3rd quarter valued at approximately $830,000. Finally, Wealth Enhancement Advisory Services LLC increased its holdings in Gilead Sciences by 13.1% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 286,116 shares of the biopharmaceutical company’s stock worth $19,630,000 after acquiring an additional 33,162 shares in the last quarter. 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.