Piper Sandler Raises Gilead Sciences (NASDAQ:GILD) Price Target to $110.00

Gilead Sciences (NASDAQ:GILD) had its price target raised by research analysts at Piper Sandler from $105.00 to $110.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the biopharmaceutical company’s stock. Piper Sandler’s target price indicates a potential upside of 3.81% from the company’s previous close.

A number of other research analysts also recently weighed in on the company. Barclays upped their target price on Gilead Sciences from $84.00 to $95.00 and gave the stock an “equal weight” rating in a report on Thursday, November 7th. UBS Group upped their target price on Gilead Sciences from $70.00 to $96.00 and gave the stock a “neutral” rating in a report on Thursday, November 21st. Daiwa America upgraded Gilead Sciences to a “hold” rating in a report on Monday, November 18th. Leerink Partnrs upgraded Gilead Sciences from a “hold” rating to a “strong-buy” rating in a report on Monday, October 21st. Finally, JPMorgan Chase & Co. upped their price target on Gilead Sciences from $105.00 to $115.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Eleven analysts have rated the stock with a hold rating, fourteen have given a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $101.33.

Gilead Sciences Trading Up 2.6 %

GILD opened at $105.96 on Wednesday. The business has a 50 day simple moving average of $93.38 and a two-hundred day simple moving average of $87.24. The firm has a market capitalization of $132.05 billion, a price-to-earnings ratio of 1,177.33, a PEG 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 one year low of $62.07 and a one year high of $106.43.

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

Insider Activity

In other news, CFO Andrew D. Dickinson sold 137,676 shares of the stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $102.22, for a total transaction of $14,073,240.72. Following the transaction, the chief financial officer now directly owns 171,223 shares of the company’s stock, valued at $17,502,415.06. This represents a 44.57 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Jeffrey Bluestone sold 6,788 shares of the stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $91.39, for a total value of $620,355.32. Following the transaction, the director now directly owns 8,920 shares in the company, valued at $815,198.80. The trade was a 43.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 710,500 shares of company stock valued at $67,684,956 in the last ninety days. 0.16% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Gilead Sciences

A number of institutional investors have recently bought and sold shares of GILD. AMF Tjanstepension AB raised its holdings in Gilead Sciences by 14.7% in the 3rd quarter. AMF Tjanstepension AB now owns 400,819 shares of the biopharmaceutical company’s stock worth $33,645,000 after purchasing an additional 51,390 shares during the period. Koshinski Asset Management Inc. raised its holdings in Gilead Sciences by 7.7% in the 3rd quarter. Koshinski Asset Management Inc. now owns 3,615 shares of the biopharmaceutical company’s stock worth $303,000 after purchasing an additional 259 shares during the period. Sapient Capital LLC bought a new position in Gilead Sciences in the 3rd quarter worth $213,000. CX Institutional raised its holdings in Gilead Sciences by 34.2% in the 3rd quarter. CX Institutional now owns 60,987 shares of the biopharmaceutical company’s stock worth $5,113,000 after purchasing an additional 15,545 shares during the period. Finally, Wesbanco Bank Inc. raised its holdings in Gilead Sciences by 1.8% in the 3rd quarter. Wesbanco Bank Inc. now owns 20,526 shares of the biopharmaceutical company’s stock worth $1,721,000 after purchasing an additional 364 shares during the period. 83.67% of the stock is owned by 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.