Gilead Sciences (NASDAQ:GILD – Get Free Report)‘s stock had its “overweight” rating restated by research analysts at Cantor Fitzgerald in a report released on Thursday, Benzinga reports. They currently have a $155.00 price target on the biopharmaceutical company’s stock. Cantor Fitzgerald’s price objective points to a potential upside of 5.55% from the stock’s previous close.
Several other brokerages have also weighed in on GILD. Wall Street Zen raised shares of Gilead Sciences from a “hold” rating to a “buy” rating in a research report on Saturday, September 19th. Morgan Stanley dropped their price objective on shares of Gilead Sciences from $165.00 to $163.00 and set an “overweight” rating on the stock in a research report on Wednesday. Weiss Ratings upgraded Gilead Sciences from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, September 14th. JPMorgan Chase & Co. boosted their price target on Gilead Sciences from $160.00 to $170.00 and gave the company an “overweight” rating in a research note on Wednesday. Finally, Needham & Company LLC restated a “buy” rating and issued a $170.00 price target on shares of Gilead Sciences in a research note on Wednesday, August 5th. Twenty-three research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $159.15.
Get Our Latest Stock Analysis on GILD
Gilead Sciences Price Performance
Gilead Sciences (NASDAQ:GILD – Get Free Report) last issued its quarterly earnings data on Monday, August 3rd. The biopharmaceutical company reported ($6.75) earnings per share for the quarter, beating the consensus estimate of ($7.25) by $0.50. The company had revenue of $7.80 billion for the quarter, compared to analyst estimates of $7.40 billion. Gilead Sciences had a negative net margin of 10.64% and a negative return on equity of 2.11%. The company’s revenue was up 10.6% on a year-over-year basis. During the same period in the prior year, the firm earned $2.01 earnings per share. Equities analysts forecast that Gilead Sciences will post -0.48 EPS for the current year.
Insider Activity at Gilead Sciences
In other news, insider Johanna Mercier sold 28,000 shares of the firm’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $137.64, for a total transaction of $3,853,920.00. Following the transaction, the insider directly owned 118,234 shares of the company’s stock, valued at approximately $16,273,727.76. This trade represents a 19.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Andrew D. Dickinson sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $145.29, for a total transaction of $435,870.00. Following the transaction, the chief financial officer directly owned 164,096 shares in the company, valued at $23,841,507.84. This represents a 1.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 105,000 shares of company stock valued at $14,940,540. 0.30% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On Gilead Sciences
Several institutional investors and hedge funds have recently bought and sold shares of the company. Vann Equity Management LLC lifted its position in Gilead Sciences by 41.6% during the third quarter. Vann Equity Management LLC now owns 4,717 shares of the biopharmaceutical company’s stock worth $703,000 after purchasing an additional 1,385 shares during the period. Venture Visionary Partners LLC lifted its position in Gilead Sciences by 10.1% during the third quarter. Venture Visionary Partners LLC now owns 6,746 shares of the biopharmaceutical company’s stock worth $1,006,000 after purchasing an additional 618 shares during the period. Greenfield Savings Bank lifted its position in Gilead Sciences by 3.1% during the third quarter. Greenfield Savings Bank now owns 10,138 shares of the biopharmaceutical company’s stock worth $1,511,000 after purchasing an additional 301 shares during the period. Echo45 Advisors LLC bought a new stake in Gilead Sciences during the third quarter worth about $227,000. Finally, North Point Portfolio Managers Corp OH bought a new stake in Gilead Sciences during the third quarter worth about $98,000. Institutional investors own 83.67% of the company’s stock.
Gilead Sciences News Summary
Here are the key news stories impacting Gilead Sciences this week:
- Positive Sentiment: Analysts raised their outlook: JPMorgan increased its price target from $160 to $170 and maintained an “overweight” rating, while Truist raised its target from $150 to $158 and reiterated a “buy” rating. These revisions suggest analysts see additional upside for GILD.
- Positive Sentiment: Five-year Cognizant agreement: Gilead signed a long-term DevOps services agreement with Cognizant. The partnership is intended to combine life-sciences expertise with technology services to improve Gilead’s processes and operational capabilities. The agreement may support efficiency, although its direct financial impact was not disclosed. Gilead Sciences signs five-year DevOps agreement with Cognizant
- Neutral Sentiment: Nurix collaboration extended: Nurix Therapeutics extended the research term for an oncology program under its Gilead partnership by two years. The extension indicates ongoing research activity and could lead to future milestone payments and royalties for Nurix, but the immediate effect on Gilead’s valuation is limited. Is Extending the Gilead E3 Ligase Collaboration Altering The Investment Case For Nurix Therapeutics
- Negative Sentiment: Valuation caution: A Seeking Alpha analysis argued that Gilead’s pursuit of growth carries significant costs and may constrain the value implied by discounted-cash-flow analysis. The concern could temper enthusiasm despite the broader analyst optimism. Gilead: Buying Growth Isn’t Free, And The Discounted Cash Flow Model Knows It
- Negative Sentiment: Mixed target changes: Morgan Stanley lowered its price target from $165 to $163, although it retained an “overweight” rating. The modest reduction signals some caution regarding near-term upside.
Gilead Sciences Company Profile
Gilead Sciences, Inc (NASDAQ: GILD) is a biopharmaceutical company that discovers, develops and commercializes medicines for serious and life-threatening diseases. Its research and commercial activities focus primarily on virology, including HIV, hepatitis B and hepatitis C, as well as oncology, inflammation and other areas of significant unmet medical need.
Gilead’s portfolio includes HIV treatments such as Biktarvy, Descovy, Genvoya and Sunlenca; hepatitis therapies including Epclusa, Harvoni and Vemlidy; and Veklury (remdesivir), an antiviral used to treat COVID-19 in certain patients.
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