Piper Sandler Lowers Gilead Sciences (NASDAQ:GILD) Price Target to $85.00

Gilead Sciences (NASDAQ:GILD) had its price objective lowered by equities research analysts at Piper Sandler from $90.00 to $85.00 in a note issued to investors on Friday, Briefing.com Automated Import reports. The brokerage presently has an “overweight” rating on the biopharmaceutical company’s stock. Piper Sandler’s target price points to a potential upside of 22.25% from the stock’s current price. Piper Sandler also issued estimates for Gilead Sciences’ Q2 2020 earnings at $1.30 EPS, Q3 2020 earnings at $1.45 EPS, Q4 2020 earnings at $1.62 EPS, FY2020 earnings at $6.05 EPS, Q1 2021 earnings at $1.75 EPS, Q3 2021 earnings at $1.80 EPS, Q4 2021 earnings at $1.30 EPS, FY2021 earnings at $7.10 EPS, FY2021 earnings at $7.20 EPS, FY2022 earnings at $8.20 EPS, FY2022 earnings at $8.15 EPS, FY2023 earnings at $8.55 EPS, FY2024 earnings at $10.20 EPS and FY2024 earnings at $10.25 EPS.

Several other brokerages also recently commented on GILD. Oppenheimer reiterated a “buy” rating on shares of Gilead Sciences in a report on Monday, May 18th. Cantor Fitzgerald boosted their price objective on shares of Gilead Sciences from $78.00 to $86.00 and gave the company an “overweight” rating in a research report on Tuesday, April 7th. Maxim Group reissued a “hold” rating on shares of Gilead Sciences in a research report on Tuesday, June 2nd. BidaskClub cut shares of Gilead Sciences from a “sell” rating to a “strong sell” rating in a research report on Friday, July 24th. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $97.00 price objective on shares of Gilead Sciences in a research report on Tuesday, July 21st. Four analysts have rated the stock with a sell rating, sixteen have given a hold rating and nine have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $79.63.

Shares of NASDAQ:GILD opened at $69.53 on Friday. The company has a market capitalization of $87.22 billion, a price-to-earnings ratio of -289.70, a PEG ratio of 2.34 and a beta of 0.70. Gilead Sciences has a 12 month low of $60.89 and a 12 month high of $85.97. The firm’s 50-day moving average is $75.47 and its 200 day moving average is $73.57. The company has a current ratio of 3.04, a quick ratio of 2.92 and a debt-to-equity ratio of 1.00.

Gilead Sciences (NASDAQ:GILD) last issued its quarterly earnings results on Thursday, July 30th. The biopharmaceutical company reported $1.11 EPS for the quarter, missing the consensus estimate of $1.57 by ($0.46). The firm had revenue of $5.14 billion for the quarter, compared to the consensus estimate of $5.24 billion. Gilead Sciences had a negative net margin of 1.16% and a positive return on equity of 32.17%. As a group, equities analysts forecast that Gilead Sciences will post 6.79 EPS for the current fiscal year.

In related news, EVP Brett A. Pletcher sold 13,210 shares of the business’s stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $79.23, for a total transaction of $1,046,628.30. Following the completion of the transaction, the executive vice president now owns 27,204 shares in the company, valued at approximately $2,155,372.92. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director John Francis Cogan sold 2,416 shares of the business’s stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $81.75, for a total transaction of $197,508.00. Following the transaction, the director now owns 57,276 shares of the company’s stock, valued at approximately $4,682,313. The disclosure for this sale can be found here. In the last quarter, insiders have sold 28,079 shares of company stock valued at $2,240,630. 0.13% of the stock is currently owned by company insiders.

A number of institutional investors have recently modified their holdings of the business. Comerica Bank increased its stake in Gilead Sciences by 4.7% during the 2nd quarter. Comerica Bank now owns 378,730 shares of the biopharmaceutical company’s stock valued at $28,878,000 after purchasing an additional 16,858 shares in the last quarter. Lincoln National Corp increased its stake in Gilead Sciences by 13.9% during the 2nd quarter. Lincoln National Corp now owns 6,399 shares of the biopharmaceutical company’s stock valued at $492,000 after purchasing an additional 779 shares in the last quarter. Ieq Capital LLC increased its stake in Gilead Sciences by 21.3% during the 2nd quarter. Ieq Capital LLC now owns 17,005 shares of the biopharmaceutical company’s stock valued at $1,309,000 after purchasing an additional 2,985 shares in the last quarter. Private Wealth Partners LLC increased its stake in Gilead Sciences by 882.4% during the 2nd quarter. Private Wealth Partners LLC now owns 143,435 shares of the biopharmaceutical company’s stock valued at $11,036,000 after purchasing an additional 128,835 shares in the last quarter. Finally, Chicago Partners Investment Group LLC increased its stake in Gilead Sciences by 34.3% during the 2nd quarter. Chicago Partners Investment Group LLC now owns 3,997 shares of the biopharmaceutical company’s stock valued at $298,000 after purchasing an additional 1,020 shares in the last quarter. Institutional investors and hedge funds own 78.74% of the company’s stock.

About Gilead Sciences

Gilead Sciences, Inc, a research-based biopharmaceutical company, discovers, develops, and commercializes medicines in the areas of unmet medical needs in the United States, Europe, and internationally. The company's products include Biktarvy, Descovy, Odefsey, Genvoya, Stribild, Complera/Eviplera, Atripla, and Truvada for the treatment of human immunodeficiency virus (HIV) infection in adults; and Vosevi, Vemlidy, Epclusa, Harvoni, and Viread products for treating liver diseases.

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