Gilead Sciences (NASDAQ:GILD) Now Covered by Analysts at Wolfe Research

Research analysts at Wolfe Research assumed coverage on shares of Gilead Sciences (NASDAQ:GILD) in a report issued on Friday, MarketBeat.com reports. The firm set an “outperform” rating and a $110.00 price target on the biopharmaceutical company’s stock. Wolfe Research’s price target would suggest a potential upside of 24.43% from the company’s current price.

Several other equities research analysts also recently weighed in on the stock. Barclays upped their target price on shares of Gilead Sciences from $84.00 to $95.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 7th. Robert W. Baird increased their price objective on Gilead Sciences from $80.00 to $95.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Leerink Partners raised Gilead Sciences from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $74.00 to $96.00 in a research note on Monday, October 21st. Wells Fargo & Company upped their price target on Gilead Sciences from $100.00 to $105.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Finally, Evercore ISI upgraded Gilead Sciences to a “strong-buy” rating in a research note on Friday, August 9th. Eleven investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and four have given a strong buy rating to the company’s stock. According to MarketBeat.com, Gilead Sciences currently has a consensus rating of “Moderate Buy” and a consensus price target of $93.86.

Gilead Sciences Trading Down 4.0 %

GILD opened at $88.40 on Friday. Gilead Sciences has a 52 week low of $62.07 and a 52 week high of $98.90. The company has a quick ratio of 0.82, a current ratio of 1.26 and a debt-to-equity ratio of 1.24. The business has a fifty day simple moving average of $86.68 and a 200-day simple moving average of $76.04. The firm has a market cap of $110.17 billion, a P/E ratio of 982.22, a P/E/G ratio of 2.72 and a beta of 0.17.

Gilead Sciences (NASDAQ:GILD) last announced its earnings results on Wednesday, November 6th. The biopharmaceutical company reported $2.02 EPS for the quarter, beating analysts’ consensus estimates of $1.58 by $0.44. The company had revenue of $7.55 billion during the quarter, compared to analysts’ expectations of $7.01 billion. Gilead Sciences had a return on equity of 29.00% and a net margin of 0.45%. Gilead Sciences’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same period last year, the business posted $2.29 EPS. On average, equities analysts expect that Gilead Sciences will post 4.38 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Johanna Mercier sold 29,357 shares of the stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $83.78, for a total transaction of $2,459,529.46. Following the completion of the sale, the insider now owns 78,127 shares in the company, valued at $6,545,480.06. This represents a 27.31 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Merdad Parsey sold 25,590 shares of Gilead Sciences stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $91.50, for a total transaction of $2,341,485.00. Following the completion of the transaction, the insider now owns 99,599 shares in the company, valued at approximately $9,113,308.50. This represents a 20.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 56,947 shares of company stock worth $4,968,674 in the last quarter. 0.16% of the stock is owned by insiders.

Institutional Investors Weigh In On Gilead Sciences

Several hedge funds have recently made changes to their positions in the business. Capital World Investors raised its stake in Gilead Sciences by 1.4% during the 1st quarter. Capital World Investors now owns 84,497,404 shares of the biopharmaceutical company’s stock valued at $6,189,435,000 after acquiring an additional 1,133,281 shares during the last quarter. Capital Research Global Investors raised its stake in shares of Gilead Sciences by 2.7% during the first quarter. Capital Research Global Investors now owns 61,246,366 shares of the biopharmaceutical company’s stock worth $4,486,296,000 after purchasing an additional 1,589,240 shares during the last quarter. State Street Corp lifted its holdings in shares of Gilead Sciences by 1.4% during the third quarter. State Street Corp now owns 60,171,691 shares of the biopharmaceutical company’s stock worth $5,044,795,000 after purchasing an additional 841,776 shares during the period. Wellington Management Group LLP grew its position in Gilead Sciences by 50.9% in the 3rd quarter. Wellington Management Group LLP now owns 34,600,676 shares of the biopharmaceutical company’s stock valued at $2,900,921,000 after buying an additional 11,665,593 shares during the last quarter. Finally, FMR LLC increased its stake in Gilead Sciences by 79.4% in the 3rd quarter. FMR LLC now owns 33,162,319 shares of the biopharmaceutical company’s stock valued at $2,780,329,000 after buying an additional 14,680,161 shares during the period. 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.