Jennison Associates LLC Invests $87.16 Million in Gilead Sciences, Inc. (NASDAQ:GILD)

Jennison Associates LLC bought a new stake in Gilead Sciences, Inc. (NASDAQ:GILD) during the fourth quarter, HoldingsChannel.com reports. The fund bought 943,628 shares of the biopharmaceutical company’s stock, valued at approximately $87,163,000.

Several other institutional investors have also recently bought and sold shares of GILD. FMR LLC boosted its holdings in Gilead Sciences by 79.4% during the third quarter. FMR LLC now owns 33,162,319 shares of the biopharmaceutical company’s stock worth $2,780,329,000 after purchasing an additional 14,680,161 shares during the last quarter. Wellington Management Group LLP lifted its position in Gilead Sciences by 50.9% during the 3rd quarter. Wellington Management Group LLP now owns 34,600,676 shares of the biopharmaceutical company’s stock worth $2,900,921,000 after buying an additional 11,665,593 shares in the last quarter. Pacer Advisors Inc. boosted its stake in shares of Gilead Sciences by 723.3% during the 4th quarter. Pacer Advisors Inc. now owns 6,434,665 shares of the biopharmaceutical company’s stock worth $594,370,000 after buying an additional 5,653,075 shares during the last quarter. Point72 Asset Management L.P. grew its holdings in shares of Gilead Sciences by 350.1% in the 3rd quarter. Point72 Asset Management L.P. now owns 2,305,270 shares of the biopharmaceutical company’s stock valued at $193,274,000 after acquiring an additional 1,793,145 shares in the last quarter. Finally, International Assets Investment Management LLC raised its holdings in Gilead Sciences by 8,238.4% during the third quarter. International Assets Investment Management LLC now owns 1,642,504 shares of the biopharmaceutical company’s stock worth $137,708,000 after acquiring an additional 1,622,806 shares in the last quarter. Institutional investors own 83.67% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on GILD. UBS Group boosted their price target on Gilead Sciences from $70.00 to $96.00 and gave the stock a “neutral” rating in a research report on Thursday, November 21st. Daiwa America raised shares of Gilead Sciences to a “hold” rating in a research report on Monday, November 18th. Maxim Group downgraded shares of Gilead Sciences from a “buy” rating to a “hold” rating in a research report on Friday, November 8th. The Goldman Sachs Group upped their target price on shares of Gilead Sciences from $74.00 to $84.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Finally, Citigroup started coverage on Gilead Sciences in a research report on Thursday, November 14th. They set a “buy” rating and a $125.00 price target on the stock. Eleven equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and four have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $98.39.

Gilead Sciences Trading Up 1.2 %

Shares of NASDAQ:GILD opened at $98.38 on Tuesday. The business’s 50 day simple moving average is $92.42 and its 200 day simple moving average is $85.96. Gilead Sciences, Inc. has a 1 year low of $62.07 and a 1 year high of $99.45. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.26 and a quick ratio of 1.10. The company has a market capitalization of $122.61 billion, a P/E ratio of 1,093.11, a P/E/G ratio of 1.37 and a beta of 0.18.

Gilead Sciences (NASDAQ:GILD) last issued its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported $2.02 EPS for the quarter, topping analysts’ consensus estimates of $1.58 by $0.44. Gilead Sciences had a return on equity of 29.00% and a net margin of 0.45%. The company had revenue of $7.55 billion for the quarter, compared to analysts’ expectations of $7.01 billion. During the same quarter last year, the business earned $2.29 earnings per share. Gilead Sciences’s revenue was up 7.0% on a year-over-year basis. On average, research analysts anticipate that Gilead Sciences, Inc. will post 4.34 EPS for the current fiscal year.

Insider Transactions at Gilead Sciences

In other Gilead Sciences news, CFO Andrew D. Dickinson sold 248,645 shares of the firm’s stock in a transaction on 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 sale, the chief financial officer now owns 138,919 shares of the company’s stock, valued at approximately $12,886,126.44. This trade represents a 64.16 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Merdad Parsey sold 164,211 shares of the business’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $91.92, for a total value of $15,094,275.12. Following the transaction, the insider now directly 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. In the last 90 days, insiders sold 598,414 shares of company stock valued at $55,953,200. Company insiders own 0.29% of the company’s stock.

Gilead Sciences 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.