Gilead Sciences (NASDAQ:GILD) Price Target Cut to $76.00 by Analysts at Royal Bank of Canada

Gilead Sciences (NASDAQ:GILDFree Report) had its target price trimmed by Royal Bank of Canada from $78.00 to $76.00 in a research report released on Wednesday, Benzinga reports. The brokerage currently has a sector perform rating on the biopharmaceutical company’s stock.

A number of other analysts have also recently issued reports on GILD. UBS Group reduced their price objective on Gilead Sciences from $85.00 to $84.00 and set a neutral rating for the company in a research report on Wednesday, November 8th. Leerink Partnrs restated a market perform rating on shares of Gilead Sciences in a research note on Wednesday, October 11th. Deutsche Bank Aktiengesellschaft assumed coverage on Gilead Sciences in a report on Thursday, November 9th. They set a hold rating and a $75.00 price objective on the stock. Wells Fargo & Company reduced their target price on Gilead Sciences from $90.00 to $84.00 and set an equal weight rating on the stock in a report on Wednesday. Finally, Barclays boosted their price objective on shares of Gilead Sciences from $82.00 to $85.00 and gave the stock an equal weight rating in a research report on Tuesday, January 23rd. One analyst has rated the stock with a sell rating, eight have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Gilead Sciences currently has an average rating of Hold and a consensus price target of $87.00.

View Our Latest Stock Report on Gilead Sciences

Gilead Sciences Stock Down 4.2 %

Shares of NASDAQ:GILD opened at $74.42 on Wednesday. The company has a quick ratio of 1.20, a current ratio of 1.34 and a debt-to-equity ratio of 1.08. Gilead Sciences has a 52-week low of $72.87 and a 52-week high of $87.86. The company has a market capitalization of $92.73 billion, a P/E ratio of 16.54, a P/E/G ratio of 0.92 and a beta of 0.20. The stock’s fifty day simple moving average is $80.88 and its 200-day simple moving average is $78.25.

Gilead Sciences (NASDAQ:GILDGet Free Report) last issued its quarterly earnings results on Tuesday, February 6th. The biopharmaceutical company reported $1.72 EPS for the quarter, missing analysts’ consensus estimates of $1.76 by ($0.04). The business had revenue of $7.12 billion during the quarter, compared to analysts’ expectations of $7.10 billion. Gilead Sciences had a net margin of 20.89% and a return on equity of 39.45%. The company’s revenue for the quarter was down 3.7% on a year-over-year basis. During the same period in the prior year, the company posted $1.67 EPS. As a group, equities research analysts forecast that Gilead Sciences will post 7.35 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Andrew D. Dickinson sold 5,000 shares of the stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $85.78, for a total transaction of $428,900.00. Following the completion of the transaction, the chief financial officer now directly owns 101,534 shares of the company’s stock, valued at approximately $8,709,586.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Gilead Sciences news, CFO Andrew D. Dickinson sold 5,000 shares of the stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $85.78, for a total value of $428,900.00. Following the sale, the chief financial officer now directly owns 101,534 shares in the company, valued at approximately $8,709,586.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Johanna Mercier sold 8,242 shares of the stock in a transaction that occurred on Tuesday, January 9th. The stock was sold at an average price of $85.23, for a total transaction of $702,465.66. Following the completion of the sale, the insider now owns 82,729 shares in the company, valued at $7,050,992.67. The disclosure for this sale can be found here. Insiders own 0.16% of the company’s stock.

Institutional Trading of Gilead Sciences

Institutional investors and hedge funds have recently made changes to their positions in the stock. The Manufacturers Life Insurance Company raised its position in shares of Gilead Sciences by 1.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 4,188,890 shares of the biopharmaceutical company’s stock valued at $322,838,000 after buying an additional 56,363 shares in the last quarter. Commonwealth Equity Services LLC raised its position in Gilead Sciences by 1.5% in the 2nd quarter. Commonwealth Equity Services LLC now owns 346,600 shares of the biopharmaceutical company’s stock worth $26,713,000 after purchasing an additional 5,266 shares during the period. Abundance Wealth Counselors purchased a new position in Gilead Sciences in the 3rd quarter worth $1,881,000. Savant Capital LLC raised its position in Gilead Sciences by 1.3% in the 2nd quarter. Savant Capital LLC now owns 26,776 shares of the biopharmaceutical company’s stock worth $2,064,000 after purchasing an additional 356 shares during the period. Finally, Itau Unibanco Holding S.A. raised its position in Gilead Sciences by 50.6% in the 2nd quarter. Itau Unibanco Holding S.A. now owns 3,713 shares of the biopharmaceutical company’s stock worth $286,000 after purchasing an additional 1,247 shares during the period. Hedge funds and other institutional investors own 82.33% of the company’s stock.

Gilead Sciences Company Profile

(Get Free Report)

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 viral hepatitis.

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