Gilead Sciences (NASDAQ:GILD) Stock Price Expected to Rise, The Goldman Sachs Group Analyst Says

Gilead Sciences (NASDAQ:GILD) had its price target lifted by The Goldman Sachs Group from $74.00 to $84.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the biopharmaceutical company’s stock. The Goldman Sachs Group’s price objective would indicate a potential downside of 13.19% from the company’s current price.

Other equities analysts also recently issued reports about the stock. Leerink Partners raised shares of Gilead Sciences from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $74.00 to $96.00 in a research note on Monday, October 21st. Wells Fargo & Company upped their target price on Gilead Sciences from $100.00 to $105.00 and gave the stock an “overweight” rating in a research report on Thursday. JPMorgan Chase & Co. lifted their price target on Gilead Sciences from $95.00 to $100.00 and gave the company an “overweight” rating in a report on Wednesday, October 9th. Leerink Partnrs raised Gilead Sciences from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 21st. Finally, Royal Bank of Canada raised their price objective on shares of Gilead Sciences from $75.00 to $81.00 and gave the company a “sector perform” rating in a research report on Thursday. Eleven analysts have rated the stock with a hold rating, eleven have assigned a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $88.71.

Gilead Sciences Trading Up 5.5 %

Shares of Gilead Sciences stock traded up $5.07 during trading on Thursday, hitting $96.76. The stock had a trading volume of 6,401,537 shares, compared to its average volume of 7,010,009. Gilead Sciences has a 1 year low of $62.07 and a 1 year high of $98.31. The stock has a 50 day simple moving average of $84.58 and a 200 day simple moving average of $74.67. The company has a quick ratio of 0.95, a current ratio of 1.14 and a debt-to-equity ratio of 1.18. The company has a market capitalization of $120.47 billion, a PE ratio of 118.40, a P/E/G ratio of 3.13 and a beta of 0.17.

Gilead Sciences (NASDAQ:GILD) last posted its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported $2.02 earnings per share for the quarter, topping the consensus estimate of $1.58 by $0.44. The firm had revenue of $7.55 billion for the quarter, compared to analysts’ expectations of $7.01 billion. Gilead Sciences had a net margin of 3.79% and a return on equity of 29.34%. The company’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same period in the previous year, the company posted $2.29 EPS. On average, research analysts expect that Gilead Sciences will post 3.75 EPS for the current fiscal year.

Insider Activity at Gilead Sciences

In related news, insider Merdad Parsey sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $83.83, for a total transaction of $167,660.00. Following the completion of the sale, the insider now directly owns 100,189 shares of the company’s stock, valued at $8,398,843.87. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. In other Gilead Sciences news, insider Johanna Mercier sold 5,490 shares of the stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $73.98, for a total transaction of $406,150.20. Following the completion of the transaction, the insider now owns 114,979 shares in the company, valued at approximately $8,506,146.42. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Merdad Parsey sold 2,000 shares of the business’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $83.83, for a total value of $167,660.00. Following the completion of the sale, the insider now owns 100,189 shares in the company, valued at approximately $8,398,843.87. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 36,847 shares of company stock worth $3,033,340 over the last 90 days. Insiders own 0.29% of the company’s stock.

Institutional Investors Weigh In On Gilead Sciences

A number of hedge funds and other institutional investors have recently bought and sold shares of GILD. Vanguard Group Inc. grew its stake in shares of Gilead Sciences by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 114,732,575 shares of the biopharmaceutical company’s stock worth $8,404,161,000 after acquiring an additional 2,910,147 shares in the last quarter. Capital World Investors grew its position in Gilead Sciences by 1.4% in the first quarter. Capital World Investors now owns 84,497,404 shares of the biopharmaceutical company’s stock valued at $6,189,435,000 after purchasing an additional 1,133,281 shares in the last quarter. Capital Research Global Investors increased its stake in Gilead Sciences by 2.7% in the 1st quarter. Capital Research Global Investors now owns 61,246,366 shares of the biopharmaceutical company’s stock valued at $4,486,296,000 after buying an additional 1,589,240 shares during the last quarter. Legal & General Group Plc lifted its position in 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 worth $851,743,000 after buying an additional 93,068 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Gilead Sciences by 2.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 10,412,413 shares of the biopharmaceutical company’s stock worth $714,421,000 after buying an additional 268,208 shares during the last quarter. Institutional investors and hedge funds 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.