Robert W. Baird Forecasts Strong Price Appreciation for Gilead Sciences (NASDAQ:GILD) Stock

Gilead Sciences (NASDAQ:GILD) had its target price increased by investment analysts at Robert W. Baird from $80.00 to $95.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the biopharmaceutical company’s stock. Robert W. Baird’s target price would indicate a potential downside of 2.25% from the stock’s previous close.

A number of other research analysts also recently issued reports on the stock. Wells Fargo & Company upped their target price on shares of Gilead Sciences from $100.00 to $105.00 and gave the company an “overweight” rating in a research report on Thursday. Leerink Partnrs raised Gilead Sciences from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 21st. 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 note on Thursday. Truist Financial increased their price objective on Gilead Sciences from $82.00 to $83.00 and gave the company a “hold” rating in a report on Thursday, August 15th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Gilead Sciences in a report on Thursday. Eleven equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $90.05.

Gilead Sciences Trading Up 6.0 %

Gilead Sciences stock traded up $5.50 during trading hours on Thursday, reaching $97.19. 8,544,501 shares of the company’s stock traded hands, compared to its average volume of 7,018,311. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.95 and a current ratio of 1.14. Gilead Sciences has a fifty-two week low of $62.07 and a fifty-two week high of $98.32. The firm has a market capitalization of $121.00 billion, a price-to-earnings ratio of 118.59, a PEG ratio of 3.13 and a beta of 0.17. The firm’s 50 day moving average is $84.58 and its 200-day moving average is $74.67.

Gilead Sciences (NASDAQ:GILD) last released its 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 net margin of 3.79% and a return on equity of 29.34%. The company had revenue of $7.55 billion for the quarter, compared to the consensus estimate of $7.01 billion. During the same period in the prior year, the company posted $2.29 EPS. The company’s revenue was up 7.0% compared to the same quarter last year. On average, analysts predict that Gilead Sciences will post 3.75 earnings per share for the current year.

Insider Activity

In related news, insider Merdad Parsey sold 2,000 shares of the company’s stock in a transaction on 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 transaction, the insider now directly owns 100,189 shares in the company, valued at approximately $8,398,843.87. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Johanna Mercier sold 29,357 shares of the stock in a transaction dated Thursday, September 12th. The shares were 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 directly owns 78,127 shares of the company’s stock, valued at $6,545,480.06. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Merdad Parsey sold 2,000 shares of the stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $83.83, for a total transaction of $167,660.00. Following the completion of the transaction, the insider now directly owns 100,189 shares of the company’s stock, valued at approximately $8,398,843.87. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 36,847 shares of company stock worth $3,033,340 in the last three months. Corporate insiders own 0.29% of the company’s stock.

Hedge Funds Weigh In On Gilead Sciences

A number of institutional investors have recently bought and sold shares of GILD. CarsonAllaria Wealth Management Ltd. raised its stake in Gilead Sciences by 198.3% in the second quarter. CarsonAllaria Wealth Management Ltd. now owns 358 shares of the biopharmaceutical company’s stock worth $25,000 after buying an additional 238 shares in the last quarter. nVerses Capital LLC bought a new position in Gilead Sciences in the third quarter worth about $25,000. Valued Wealth Advisors LLC raised its stake in Gilead Sciences by 101.9% in the third quarter. Valued Wealth Advisors LLC now owns 319 shares of the biopharmaceutical company’s stock worth $27,000 after buying an additional 161 shares in the last quarter. Cedar Wealth Management LLC raised its stake in Gilead Sciences by 51.6% in the second quarter. Cedar Wealth Management LLC now owns 470 shares of the biopharmaceutical company’s stock worth $32,000 after buying an additional 160 shares in the last quarter. Finally, Strategic Investment Solutions Inc. IL bought a new position in Gilead Sciences in the second quarter worth about $33,000. 83.67% of the stock is owned by institutional investors.

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.