Piper Sandler Increases Gilead Sciences (NASDAQ:GILD) Price Target to $105.00

Gilead Sciences (NASDAQ:GILD) had its price target increased by analysts at Piper Sandler from $95.00 to $105.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage presently has an “overweight” rating on the biopharmaceutical company’s stock. Piper Sandler’s target price suggests a potential upside of 7.58% from the company’s previous close.

Several other analysts have also issued reports on the stock. Sanford C. Bernstein started coverage on shares of Gilead Sciences in a research report on Thursday, October 17th. They issued an “outperform” rating and a $105.00 target price on the stock. Leerink Partners raised Gilead Sciences from a “market perform” rating to an “outperform” rating and increased their target price for the company from $74.00 to $96.00 in a report on Monday, October 21st. Truist Financial boosted their price target on Gilead Sciences from $82.00 to $83.00 and gave the stock a “hold” rating in a research report on Thursday, August 15th. Royal Bank of Canada restated a “sector perform” rating and issued a $75.00 price objective on shares of Gilead Sciences in a report on Tuesday, October 29th. Finally, BMO Capital Markets upped their target price on shares of Gilead Sciences from $85.00 to $94.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Ten analysts have rated the stock with a hold rating, eleven have issued a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat, Gilead Sciences presently has a consensus rating of “Moderate Buy” and a consensus price target of $87.35.

Gilead Sciences Price Performance

Shares of NASDAQ GILD opened at $97.60 on Thursday. Gilead Sciences has a 12 month low of $62.07 and a 12 month high of $98.32. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.14 and a quick ratio of 0.95. The firm’s 50 day simple moving average is $84.58 and its 200-day simple moving average is $74.67. The stock has a market capitalization of $121.51 billion, a price-to-earnings ratio of 119.02, a PEG ratio of 3.13 and a beta of 0.17.

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

Insider Buying and Selling

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. CarsonAllaria Wealth Management Ltd. increased its position in shares of Gilead Sciences by 198.3% during the second quarter. CarsonAllaria Wealth Management Ltd. now owns 358 shares of the biopharmaceutical company’s stock worth $25,000 after purchasing an additional 238 shares in the last quarter. nVerses Capital LLC purchased a new stake in Gilead Sciences in the 3rd quarter valued at $25,000. Valued Wealth Advisors LLC boosted its stake in 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. Cedar Wealth Management LLC grew its position in Gilead Sciences by 51.6% during the 2nd quarter. Cedar Wealth Management LLC now owns 470 shares of the biopharmaceutical company’s stock worth $32,000 after purchasing an additional 160 shares during the last quarter. Finally, Strategic Investment Solutions Inc. IL acquired a new position in Gilead Sciences in the second quarter valued at $33,000. 83.67% of the stock is owned by institutional investors and hedge funds.

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.