Gilead Sciences (NASDAQ:GILD) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Gilead Sciences (NASDAQ:GILD) had its target price boosted by equities researchers at JPMorgan Chase & Co. from $120.00 to $130.00 in a report issued on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the biopharmaceutical company’s stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 17.26% from the stock’s previous close.

A number of other equities research analysts have also recently issued reports on the stock. The Goldman Sachs Group upped their price objective on shares of Gilead Sciences from $85.00 to $96.00 and gave the stock a “neutral” rating in a report on Wednesday, February 12th. Wells Fargo & Company upped their price target on Gilead Sciences from $120.00 to $140.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 5th. Needham & Company LLC restated a “hold” rating on shares of Gilead Sciences in a report on Wednesday, February 12th. DZ Bank raised Gilead Sciences from a “hold” rating to a “buy” rating and set a $108.00 price target on the stock in a research report on Thursday, February 13th. Finally, Deutsche Bank Aktiengesellschaft upgraded Gilead Sciences from a “hold” rating to a “buy” rating and increased their target price for the company from $80.00 to $120.00 in a research note on Tuesday, February 18th. Eleven equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat.com, Gilead Sciences currently has a consensus rating of “Moderate Buy” and a consensus target price of $105.12.

Gilead Sciences Price Performance

Shares of GILD traded up $1.60 during trading hours on Thursday, hitting $110.87. 1,096,752 shares of the company were exchanged, compared to its average volume of 6,790,662. The firm has a fifty day simple moving average of $104.69 and a 200-day simple moving average of $94.46. The company has a market capitalization of $138.07 billion, a PE ratio of 300.31, a PEG ratio of 0.71 and a beta of 0.21. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.50 and a quick ratio of 1.20. Gilead Sciences has a one year low of $62.07 and a one year high of $119.96.

Gilead Sciences (NASDAQ:GILD) last issued its quarterly 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 31.63% and a net margin of 1.67%. As a group, sell-side analysts predict that Gilead Sciences will post 7.95 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Andrew D. Dickinson sold 142,180 shares of the business’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $97.22, for a total value of $13,822,739.60. Following the transaction, the chief financial officer now directly owns 129,873 shares of the company’s stock, valued at $12,626,253.06. The trade was a 52.26 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders have sold a total of 302,785 shares of company stock worth $30,503,250 in the last 90 days. Company insiders own 0.16% of the company’s stock.

Institutional Investors Weigh In On Gilead Sciences

A number of hedge funds have recently added to or reduced their stakes in GILD. Redwood Financial Network Corp increased its stake in shares of Gilead Sciences by 4.0% in the 4th quarter. Redwood Financial Network Corp now owns 2,530 shares of the biopharmaceutical company’s stock valued at $234,000 after acquiring an additional 98 shares in the last quarter. Nicolet Advisory Services LLC increased its position in Gilead Sciences by 2.9% in the 4th quarter. Nicolet Advisory Services LLC now owns 3,580 shares of the biopharmaceutical company’s stock valued at $322,000 after buying an additional 100 shares in the last quarter. Southland Equity Partners LLC raised its stake in Gilead Sciences by 3.6% during the 4th quarter. Southland Equity Partners LLC now owns 3,128 shares of the biopharmaceutical company’s stock worth $289,000 after buying an additional 110 shares during the period. Berkshire Bank raised its stake in Gilead Sciences by 3.4% during the 4th quarter. Berkshire Bank now owns 3,398 shares of the biopharmaceutical company’s stock worth $314,000 after buying an additional 111 shares during the period. Finally, CFO4Life Group LLC increased its holdings in shares of Gilead Sciences by 2.7% during the fourth quarter. CFO4Life Group LLC now owns 4,265 shares of the biopharmaceutical company’s stock valued at $394,000 after acquiring an additional 112 shares in the last quarter. 83.67% of the stock is currently 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.