Gilead Sciences (NASDAQ:GILD) Upgraded to “Hold” at HSBC

Gilead Sciences (NASDAQ:GILD) was upgraded by HSBC from a “reduce” rating to a “hold” rating in a report released on Wednesday, MarketBeat reports. The firm presently has a $69.00 price target on the biopharmaceutical company’s stock. HSBC’s target price would suggest a potential upside of 5.71% from the company’s previous close.

Several other research firms also recently issued reports on GILD. StockNews.com downgraded Gilead Sciences from a “strong-buy” rating to a “buy” rating in a report on Friday, April 19th. Mizuho cut their price objective on Gilead Sciences from $101.00 to $90.00 and set a “buy” rating on the stock in a report on Thursday, February 22nd. Wells Fargo & Company lowered their target price on Gilead Sciences from $84.00 to $77.00 and set an “equal weight” rating for the company in a research note on Monday, March 4th. UBS Group lowered their target price on Gilead Sciences from $81.00 to $75.00 and set a “neutral” rating for the company in a research note on Wednesday, April 17th. Finally, Cantor Fitzgerald lowered their target price on Gilead Sciences from $80.00 to $78.00 and set a “neutral” rating for the company in a research note on Wednesday, February 7th. Ten equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $84.57.

Gilead Sciences Price Performance

GILD stock opened at $65.27 on Wednesday. The company has a current ratio of 1.43, a quick ratio of 1.27 and a debt-to-equity ratio of 1.08. The company has a market capitalization of $81.27 billion, a PE ratio of 14.50, a P/E/G ratio of 0.96 and a beta of 0.19. Gilead Sciences has a 12-month low of $65.09 and a 12-month high of $87.86. The business’s fifty day moving average price is $71.40 and its 200 day moving average price is $76.32.

Gilead Sciences (NASDAQ:GILD) last posted its quarterly earnings data on Thursday, April 25th. The biopharmaceutical company reported ($1.32) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.49) by $0.17. The firm had revenue of $6.69 billion for the quarter, compared to the consensus estimate of $6.36 billion. Gilead Sciences had a return on equity of 38.85% and a net margin of 20.89%. The company’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.37 EPS. On average, sell-side analysts anticipate that Gilead Sciences will post 5.24 EPS for the current year.

Insider Transactions at Gilead Sciences

In related news, insider Merdad Parsey sold 2,000 shares of the company’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $72.96, for a total value of $145,920.00. Following the completion of the sale, the insider now directly owns 96,304 shares of the company’s stock, valued at approximately $7,026,339.84. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.16% of the company’s stock.

Institutional Trading of Gilead Sciences

Large investors have recently made changes to their positions in the company. Tompkins Financial Corp boosted its position in shares of Gilead Sciences by 223.1% in the 3rd quarter. Tompkins Financial Corp now owns 349 shares of the biopharmaceutical company’s stock valued at $26,000 after purchasing an additional 241 shares during the period. Private Wealth Management Group LLC purchased a new stake in Gilead Sciences during the 4th quarter valued at approximately $29,000. OFI Invest Asset Management purchased a new stake in Gilead Sciences during the 3rd quarter valued at approximately $26,000. Fortitude Family Office LLC purchased a new stake in Gilead Sciences during the 4th quarter valued at approximately $29,000. Finally, Sachetta LLC purchased a new stake in Gilead Sciences during the 4th quarter valued at approximately $30,000. 83.67% of the stock is owned by institutional investors and hedge funds.

About Gilead Sciences

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, Sunlencs, and Atripla products for the treatment of HIV/AIDS; Veklury, an injection for intravenous use, for the treatment of COVID-19; and Epclusa, Harvoni, Vemlidy, and Viread for the treatment of viral hepatitis.