Gilead Sciences (NASDAQ:GILD) Price Target Raised to $74.00

Gilead Sciences (NASDAQ:GILDGet Rating) had its target price raised by Wells Fargo & Company from $63.00 to $74.00 in a report issued on Tuesday morning, The Fly reports. Wells Fargo & Company currently has an equal weight rating on the biopharmaceutical company’s stock.

A number of other research firms also recently issued reports on GILD. StockNews.com downgraded shares of Gilead Sciences from a strong-buy rating to a buy rating in a report on Wednesday, August 17th. BMO Capital Markets started coverage on shares of Gilead Sciences in a report on Tuesday, June 7th. They issued a hold rating and a $63.00 price objective on the stock. Morgan Stanley raised their price objective on shares of Gilead Sciences from $63.00 to $65.00 and gave the stock an equal weight rating in a report on Friday, July 15th. Cantor Fitzgerald started coverage on shares of Gilead Sciences in a report on Tuesday, July 12th. They issued a neutral rating and a $70.00 price objective on the stock. Finally, SVB Leerink started coverage on shares of Gilead Sciences in a report on Monday, May 23rd. They issued a market perform rating and a $68.00 price objective on the stock. One analyst has rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of Hold and a consensus price target of $73.47.

Gilead Sciences Stock Performance

Shares of NASDAQ GILD opened at $65.10 on Tuesday. The firm’s 50-day moving average price is $62.90 and its 200-day moving average price is $61.84. The company has a quick ratio of 1.27, a current ratio of 1.43 and a debt-to-equity ratio of 1.30. The company has a market cap of $81.59 billion, a PE ratio of 19.85, a PEG ratio of 0.67 and a beta of 0.31. Gilead Sciences has a 52-week low of $57.17 and a 52-week high of $74.12.

Gilead Sciences Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 29th. Stockholders of record on Thursday, September 15th will be given a dividend of $0.73 per share. This represents a $2.92 annualized dividend and a dividend yield of 4.49%. The ex-dividend date is Wednesday, September 14th. Gilead Sciences’s payout ratio is currently 89.02%.

Institutional Investors Weigh In On Gilead Sciences

Several institutional investors and hedge funds have recently modified their holdings of the stock. Vantage Financial Partners LLC raised its position in shares of Gilead Sciences by 1.2% during the second quarter. Vantage Financial Partners LLC now owns 14,279 shares of the biopharmaceutical company’s stock valued at $883,000 after buying an additional 163 shares during the last quarter. Aberdeen Wealth Management LLC raised its position in shares of Gilead Sciences by 2.1% during the first quarter. Aberdeen Wealth Management LLC now owns 8,101 shares of the biopharmaceutical company’s stock valued at $482,000 after buying an additional 164 shares during the last quarter. Simmons Bank raised its position in shares of Gilead Sciences by 0.4% during the first quarter. Simmons Bank now owns 41,962 shares of the biopharmaceutical company’s stock valued at $2,494,000 after buying an additional 166 shares during the last quarter. MFA Wealth Advisors LLC raised its position in shares of Gilead Sciences by 0.8% during the fourth quarter. MFA Wealth Advisors LLC now owns 20,095 shares of the biopharmaceutical company’s stock valued at $1,458,000 after buying an additional 167 shares during the last quarter. Finally, Core Alternative Capital raised its position in shares of Gilead Sciences by 8.7% during the second quarter. Core Alternative Capital now owns 2,120 shares of the biopharmaceutical company’s stock valued at $131,000 after buying an additional 170 shares during the last quarter. Institutional investors own 78.58% of the company’s stock.

About Gilead Sciences

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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, and Atripla products for the treatment of HIV/AIDS; Veklury, an injection for intravenous use, for the treatment of coronavirus disease 2019; and Epclusa, Harvoni, Vosevi, Vemlidy, and Viread for the treatment of liver diseases.

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Analyst Recommendations for Gilead Sciences (NASDAQ:GILD)

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