Gilead Sciences (NASDAQ:GILD) Reaches New 12-Month High After Earnings Beat

Gilead Sciences, Inc. (NASDAQ:GILD) shares reached a new 52-week high during mid-day trading on Wednesday after the company announced better than expected quarterly earnings. The company traded as high as $104.71 and last traded at $104.30, with a volume of 4103937 shares traded. The stock had previously closed at $96.14.

The biopharmaceutical company reported $1.90 EPS for the quarter, topping analysts’ consensus estimates of $1.67 by $0.23. Gilead Sciences had a return on equity of 29.00% and a net margin of 0.45%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on GILD. Truist Financial raised their target price on shares of Gilead Sciences from $83.00 to $97.00 and gave the stock a “hold” rating in a report on Friday, November 8th. The Goldman Sachs Group raised their price objective on shares of Gilead Sciences from $74.00 to $84.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. UBS Group increased their price target on Gilead Sciences from $70.00 to $96.00 and gave the stock a “neutral” rating in a report on Thursday, November 21st. Bank of America restated a “buy” rating and set a $109.00 price objective on shares of Gilead Sciences in a report on Tuesday, December 10th. Finally, Leerink Partnrs upgraded Gilead Sciences from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 21st. Eleven equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $99.04.

Insider Buying and Selling at Gilead Sciences

In related news, CFO Andrew D. Dickinson sold 248,645 shares of the company’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $92.76, for a total value of $23,064,310.20. Following the completion of the transaction, the chief financial officer now owns 138,919 shares of the company’s stock, valued at approximately $12,886,126.44. This represents a 64.16 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Jeffrey Bluestone sold 6,788 shares of the firm’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $91.39, for a total value of $620,355.32. Following the completion of the sale, the director now directly owns 8,920 shares in the company, valued at approximately $815,198.80. The trade was a 43.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 572,824 shares of company stock worth $53,611,715 over the last three months. Corporate insiders own 0.16% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in GILD. nVerses Capital LLC acquired a new stake in shares of Gilead Sciences in the third quarter valued at about $25,000. HHM Wealth Advisors LLC lifted its stake in shares of Gilead Sciences by 118.5% in the 4th quarter. HHM Wealth Advisors LLC now owns 284 shares of the biopharmaceutical company’s stock valued at $26,000 after purchasing an additional 154 shares during the last quarter. Valued Wealth Advisors LLC grew its holdings in shares of Gilead Sciences by 101.9% during the 3rd quarter. Valued Wealth Advisors LLC now owns 319 shares of the biopharmaceutical company’s stock worth $27,000 after purchasing an additional 161 shares during the period. YANKCOM Partnership purchased a new stake in Gilead Sciences in the 4th quarter valued at about $28,000. Finally, Decker Retirement Planning Inc. purchased a new position in Gilead Sciences during the fourth quarter worth about $29,000. 83.67% of the stock is owned by institutional investors and hedge funds.

Gilead Sciences Stock Up 8.6 %

The business’s 50 day moving average price is $93.14 and its 200-day moving average price is $87.12. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.10 and a current ratio of 1.26. The firm has a market capitalization of $130.09 billion, a PE ratio of 1,160.51, a P/E/G ratio of 1.25 and a beta of 0.18.

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.