Gilead Sciences (NASDAQ:GILD) Stock Price Expected to Rise, Royal Bank Of Canada Analyst Says

Gilead Sciences (NASDAQ:GILD) had its price objective upped by equities researchers at Royal Bank Of Canada from $123.00 to $126.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage currently has a “sector perform” rating on the biopharmaceutical company’s stock. Royal Bank Of Canada’s target price indicates a potential downside of 13.50% from the company’s current price.

Several other equities analysts also recently weighed in on GILD. Weiss Ratings upgraded Gilead Sciences from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, September 14th. Wall Street Zen upgraded shares of Gilead Sciences from a “hold” rating to a “buy” rating in a research note on Saturday, September 19th. Barclays dropped their target price on shares of Gilead Sciences from $155.00 to $145.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 29th. JPMorgan Chase & Co. raised their price target on shares of Gilead Sciences from $160.00 to $170.00 and gave the company an “overweight” rating in a research report on Wednesday. Finally, HSBC boosted their price objective on shares of Gilead Sciences from $155.00 to $175.00 and gave the stock a “buy” rating in a report on Thursday, September 10th. Twenty-three analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, Gilead Sciences presently has an average rating of “Moderate Buy” and a consensus target price of $159.26.

Gilead Sciences Stock Down 0.8%

Shares of NASDAQ:GILD traded down $1.19 during midday trading on Thursday, reaching $145.66. The company’s stock had a trading volume of 297,593 shares, compared to its average volume of 6,811,401. Gilead Sciences has a 12-month low of $114.02 and a 12-month high of $157.29. The company has a quick ratio of 1.09, a current ratio of 1.27 and a debt-to-equity ratio of 2.03. The firm has a 50 day moving average of $144.39 and a 200-day moving average of $136.55. The firm has a market capitalization of $180.61 billion, a P/E ratio of -54.67 and a beta of 0.31.

Gilead Sciences (NASDAQ:GILD) last released its earnings results on Monday, August 3rd. The biopharmaceutical company reported ($6.75) earnings per share (EPS) for the quarter, beating the consensus estimate of ($7.25) by $0.50. The firm had revenue of $7.80 billion during 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%. During the same period last year, the business earned $2.01 earnings per share. The business’s revenue was up 10.6% on a year-over-year basis. On average, research analysts anticipate that Gilead Sciences will post -0.48 earnings per share for the current year.

Insider Transactions at Gilead Sciences

In other Gilead Sciences news, insider Johanna Mercier sold 28,000 shares of the company’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 completion of the sale, the insider directly owned 118,234 shares of the company’s stock, valued at approximately $16,273,727.76. This represents a 19.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Daniel O’Day sold 15,000 shares of Gilead Sciences stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $148.64, for a total transaction of $2,229,600.00. Following the transaction, the chief executive officer owned 577,133 shares in the company, valued at $85,785,049.12. This represents a 2.53% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 105,000 shares of company stock worth $14,940,540. 0.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Gilead Sciences

A number of institutional investors have recently bought and sold shares of the stock. Davidson Trust Co. lifted its position in Gilead Sciences by 4.1% in the first quarter. Davidson Trust Co. now owns 1,879 shares of the biopharmaceutical company’s stock valued at $262,000 after acquiring an additional 74 shares during the last quarter. Financial Connections Group Inc. grew its holdings in shares of Gilead Sciences by 30.2% during the first quarter. Financial Connections Group Inc. now owns 328 shares of the biopharmaceutical company’s stock worth $45,000 after purchasing an additional 76 shares during the last quarter. Wilkerson Advisory Group LLC increased its position in shares of Gilead Sciences by 54.2% during the first quarter. Wilkerson Advisory Group LLC now owns 222 shares of the biopharmaceutical company’s stock worth $31,000 after purchasing an additional 78 shares in the last quarter. Balboa Wealth Partners increased its position in shares of Gilead Sciences by 2.7% during the first quarter. Balboa Wealth Partners now owns 3,057 shares of the biopharmaceutical company’s stock worth $426,000 after purchasing an additional 79 shares in the last quarter. Finally, HBW Advisory Services LLC lifted its holdings in shares of Gilead Sciences by 2.4% in the 1st quarter. HBW Advisory Services LLC now owns 3,391 shares of the biopharmaceutical company’s stock valued at $473,000 after purchasing an additional 79 shares during the last quarter. 83.67% of the stock is owned by institutional investors.

Key Headlines Impacting Gilead Sciences

Here are the key news stories impacting Gilead Sciences this week:

• Positive Sentiment: Analyst support remains strong. JPMorgan raised its target from $160 to $170 and maintained an “overweight” rating. Truist also increased its target from $150 to $158 and kept a “buy” rating. Cantor Fitzgerald reaffirmed its “overweight” rating with a $155 target, while Morgan Stanley maintained “overweight” despite trimming its target from $165 to $163. The concentration of bullish ratings is likely supporting investor confidence in GILD.
• Positive Sentiment: Five-year Cognizant partnership could improve operations. Gilead signed a long-term DevOps agreement with Cognizant, combining life-sciences expertise with technology services to support the company’s processes. While financial details were not disclosed, the agreement may help Gilead improve efficiency and technology infrastructure. Gilead Sciences signs five-year DevOps agreement with Cognizant
• Positive Sentiment: Gilead’s collaboration with Nurix was extended. The two-year extension of research into E3 ligase-based protein degradation therapies suggests continued progress in an oncology program. The partnership could ultimately generate milestone payments and royalties, although the program remains subject to development and commercial risks. Extending the Gilead E3 Ligase Collaboration

About Gilead Sciences

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.