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

Gilead Sciences (NASDAQ:GILD) had its price objective lifted by research analysts at The Goldman Sachs Group from $85.00 to $96.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the biopharmaceutical company’s stock. The Goldman Sachs Group’s price target would suggest a potential downside of 7.14% from the company’s previous close.

A number of other equities analysts have also recently commented on GILD. Wolfe Research initiated coverage on Gilead Sciences in a report on Friday, November 15th. They set an “outperform” rating and a $110.00 price target for the company. JPMorgan Chase & Co. increased their target price on shares of Gilead Sciences from $105.00 to $115.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. BMO Capital Markets lifted their price target on shares of Gilead Sciences from $110.00 to $115.00 and gave the company an “outperform” rating in a report on Wednesday. Bank of America reiterated a “buy” rating and set a $109.00 price objective on shares of Gilead Sciences in a research report on Tuesday, December 10th. Finally, Daiwa America upgraded shares of Gilead Sciences to a “hold” rating in a research report on Monday, November 18th. Eleven analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat.com, Gilead Sciences presently has a consensus rating of “Moderate Buy” and an average target price of $101.04.

Gilead Sciences Price Performance

GILD stock traded up $7.24 during midday trading on Wednesday, reaching $103.38. The company had a trading volume of 7,478,520 shares, compared to its average volume of 6,991,980. The company has a market capitalization of $128.83 billion, a price-to-earnings ratio of 1,148.89, a price-to-earnings-growth ratio of 1.25 and a beta of 0.18. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.26 and a quick ratio of 1.10. Gilead Sciences has a 1-year low of $62.07 and a 1-year high of $104.71. The stock has a 50 day moving average price of $93.14 and a 200-day moving average price of $87.12.

Gilead Sciences (NASDAQ:GILD) last posted its quarterly earnings results on Tuesday, February 11th. The biopharmaceutical company reported $1.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.67 by $0.23. Gilead Sciences had a net margin of 0.45% and a return on equity of 29.00%. Equities research analysts expect that Gilead Sciences will post 4.35 earnings per share for the current year.

Insider Transactions at Gilead Sciences

In related news, CFO Andrew D. Dickinson sold 2,500 shares of the company’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $91.35, for a total value of $228,375.00. Following the sale, the chief financial officer now owns 129,873 shares in the company, valued at $11,863,898.55. This represents a 1.89 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Merdad Parsey sold 164,211 shares of Gilead Sciences stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $91.92, for a total value of $15,094,275.12. Following the transaction, the insider now owns 80,801 shares of the company’s stock, valued at $7,427,227.92. This trade represents a 67.02 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 572,824 shares of company stock valued at $53,611,715 over the last ninety days. 0.16% of the stock is owned by company insiders.

Institutional Investors Weigh In On Gilead Sciences

A number of institutional investors and hedge funds have recently bought and sold shares of GILD. Intrust Bank NA lifted its position in shares of Gilead Sciences by 10.0% during the 4th quarter. Intrust Bank NA now owns 26,764 shares of the biopharmaceutical company’s stock worth $2,472,000 after buying an additional 2,435 shares in the last quarter. Allstate Corp bought a new stake in Gilead Sciences during the fourth quarter worth $3,422,000. Maridea Wealth Management LLC purchased a new position in Gilead Sciences in the fourth quarter worth $496,000. DnB Asset Management AS grew its stake in Gilead Sciences by 5.1% in the 4th quarter. DnB Asset Management AS now owns 303,103 shares of the biopharmaceutical company’s stock valued at $27,998,000 after purchasing an additional 14,626 shares during the period. Finally, Slagle Financial LLC increased its position in shares of Gilead Sciences by 4.1% during the 4th quarter. Slagle Financial LLC now owns 28,124 shares of the biopharmaceutical company’s stock valued at $2,598,000 after purchasing an additional 1,100 shares during the last quarter. 83.67% of the stock is owned by hedge funds and other 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.