Gilead Sciences, Inc. (NASDAQ:GILD)‘s stock had its “equal weight” rating restated by research analysts at Morgan Stanley in a research note issued to investors on Friday, October 6th. They presently have a $83.00 price objective on the biopharmaceutical company’s stock, up from their previous price objective of $77.00. Morgan Stanley’s price target points to a potential upside of 3.74% from the company’s current price.
Other analysts have also recently issued research reports about the company. Jefferies Group LLC restated a “hold” rating and issued a $80.00 price target on shares of Gilead Sciences in a research report on Tuesday, July 11th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $82.00 price objective (up previously from $72.00) on shares of Gilead Sciences in a research note on Thursday, July 27th. Robert W. Baird reaffirmed an “outperform” rating and issued a $87.00 price objective on shares of Gilead Sciences in a research note on Thursday, July 13th. J P Morgan Chase & Co reaffirmed an “overweight” rating and issued a $82.00 price objective on shares of Gilead Sciences in a research note on Tuesday, July 4th. Finally, BidaskClub raised Gilead Sciences from a “strong sell” rating to a “sell” rating in a research note on Thursday, June 22nd. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Gilead Sciences has a consensus rating of “Buy” and an average target price of $85.80.
Shares of Gilead Sciences (NASDAQ GILD) opened at 80.01 on Friday. Gilead Sciences has a 12 month low of $63.76 and a 12 month high of $86.27. The company has a market cap of $104.49 billion, a PE ratio of 8.69 and a beta of 1.14. The stock has a 50 day moving average of $82.69 and a 200-day moving average of $72.48.
Gilead Sciences (NASDAQ:GILD) last issued its quarterly earnings results on Wednesday, July 26th. The biopharmaceutical company reported $2.56 EPS for the quarter, topping analysts’ consensus estimates of $2.11 by $0.45. The business had revenue of $7.14 billion during the quarter, compared to analysts’ expectations of $6.35 billion. Gilead Sciences had a return on equity of 66.07% and a net margin of 42.90%. The business’s quarterly revenue was down 8.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.08 earnings per share. Equities analysts forecast that Gilead Sciences will post $8.73 earnings per share for the current year.
In related news, EVP Gregg H. Alton sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $75.88, for a total value of $1,138,200.00. Following the transaction, the executive vice president now directly owns 106,113 shares in the company, valued at $8,051,854.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Gregg H. Alton sold 40,000 shares of the company’s stock in a transaction that occurred on Friday, July 21st. The shares were sold at an average price of $74.00, for a total value of $2,960,000.00. Following the completion of the transaction, the executive vice president now owns 137,488 shares in the company, valued at $10,174,112. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 486,819 shares of company stock worth $39,298,919. Insiders own 1.30% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. lifted its holdings in Gilead Sciences by 1.9% in the second quarter. BlackRock Inc. now owns 104,906,494 shares of the biopharmaceutical company’s stock valued at $7,425,281,000 after acquiring an additional 1,937,031 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Gilead Sciences by 2.4% in the second quarter. Vanguard Group Inc. now owns 92,841,960 shares of the biopharmaceutical company’s stock valued at $6,571,355,000 after acquiring an additional 2,148,697 shares during the last quarter. Bank of New York Mellon Corp raised its position in Gilead Sciences by 1.0% in the second quarter. Bank of New York Mellon Corp now owns 30,881,405 shares of the biopharmaceutical company’s stock valued at $2,185,784,000 after purchasing an additional 310,607 shares during the period. FMR LLC raised its position in Gilead Sciences by 1.1% in the second quarter. FMR LLC now owns 23,037,303 shares of the biopharmaceutical company’s stock valued at $1,630,581,000 after purchasing an additional 258,005 shares during the period. Finally, Parnassus Investments CA raised its position in Gilead Sciences by 37.4% in the first quarter. Parnassus Investments CA now owns 16,726,150 shares of the biopharmaceutical company’s stock valued at $1,110,228,000 after purchasing an additional 4,556,901 shares during the period. Hedge funds and other institutional investors own 73.97% of the company’s stock.
About Gilead Sciences
Gilead Sciences, Inc is a research-based biopharmaceutical company that discovers, develops and commercializes medicines in areas of unmet medical need. The Company’s portfolio of products and pipeline of investigational drugs includes treatments for Human Immunodeficiency Virus/Acquired Immune Deficiency Syndrome (HIV/AIDS), liver diseases, cancer, inflammatory and respiratory diseases and cardiovascular conditions.
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