Oppenheimer Forecasts Strong Price Appreciation for Gilead Sciences (NASDAQ:GILD) Stock

Gilead Sciences (NASDAQ:GILD) had its target price raised by equities researchers at Oppenheimer from $105.00 to $115.00 in a report issued on Tuesday,Benzinga reports. The firm presently has an “outperform” rating on the biopharmaceutical company’s stock. Oppenheimer’s price target would suggest a potential upside of 26.95% from the company’s previous close.

Several other research analysts have also recently weighed in on the stock. Mizuho boosted their price target on shares of Gilead Sciences from $90.00 to $100.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. Leerink Partners raised Gilead Sciences from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $74.00 to $96.00 in a report on Monday, October 21st. Daiwa America raised shares of Gilead Sciences to a “hold” rating in a report on Monday, November 18th. Needham & Company LLC reiterated a “hold” rating on shares of Gilead Sciences in a research note on Thursday, November 7th. Finally, Robert W. Baird upped their price objective on shares of Gilead Sciences from $80.00 to $95.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Twelve equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and four have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $96.43.

Gilead Sciences Stock Down 1.7 %

GILD stock opened at $90.59 on Tuesday. The company has a quick ratio of 1.10, a current ratio of 1.26 and a debt-to-equity ratio of 1.24. The firm has a 50 day moving average of $89.33 and a 200 day moving average of $78.89. Gilead Sciences has a 52 week low of $62.07 and a 52 week high of $98.90. The stock has a market capitalization of $112.90 billion, a PE ratio of 1,006.56, a price-to-earnings-growth ratio of 2.86 and a beta of 0.18.

Gilead Sciences (NASDAQ:GILD) last released its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported $2.02 earnings per share for the quarter, beating analysts’ consensus estimates of $1.58 by $0.44. The business had revenue of $7.55 billion during the quarter, compared to analyst estimates of $7.01 billion. Gilead Sciences had a return on equity of 29.00% and a net margin of 0.45%. The company’s revenue was up 7.0% on a year-over-year basis. During the same quarter last year, the business posted $2.29 EPS. Sell-side analysts forecast that Gilead Sciences will post 4.37 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Merdad Parsey sold 2,000 shares of the stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $83.83, for a total transaction of $167,660.00. Following the completion of the transaction, the insider now directly owns 100,189 shares in the company, valued at approximately $8,398,843.87. This represents a 1.96 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Johanna Mercier sold 29,357 shares of the company’s 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 directly owns 78,127 shares in the company, valued at $6,545,480.06. This represents a 27.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 476,591 shares of company stock valued at $43,747,615 in the last quarter. Company insiders own 0.29% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. State Street Corp raised 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 raised its stake in Gilead Sciences by 50.9% during the third quarter. Wellington Management Group LLP now owns 34,600,676 shares of the biopharmaceutical company’s stock worth $2,900,921,000 after acquiring an additional 11,665,593 shares during the period. FMR LLC lifted its holdings in Gilead Sciences by 79.4% in the third quarter. FMR LLC now owns 33,162,319 shares of the biopharmaceutical company’s stock worth $2,780,329,000 after acquiring an additional 14,680,161 shares during the last quarter. Geode Capital Management LLC boosted its stake in Gilead Sciences by 2.1% in the third quarter. Geode Capital Management LLC now owns 27,540,870 shares of the biopharmaceutical company’s stock valued at $2,302,119,000 after acquiring an additional 574,421 shares during the period. Finally, Legal & General Group Plc lifted its holdings in shares of Gilead Sciences by 0.8% in the 2nd quarter. Legal & General Group Plc now owns 12,414,268 shares of the biopharmaceutical company’s stock worth $851,743,000 after purchasing an additional 93,068 shares during the last quarter. Institutional investors own 83.67% of the company’s stock.

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.