TD Cowen Lowers Gilead Sciences (NASDAQ:GILD) Price Target to $85.00

Gilead Sciences (NASDAQ:GILD) had its target price dropped by investment analysts at TD Cowen from $90.00 to $85.00 in a note issued to investors on Friday, Benzinga reports. The firm currently has a “buy” rating on the biopharmaceutical company’s stock. TD Cowen’s price objective points to a potential upside of 29.93% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the stock. StockNews.com cut shares of Gilead Sciences from a “strong-buy” rating to a “buy” rating in a research report on Friday, April 19th. Oppenheimer reaffirmed an “outperform” rating and issued a $105.00 target price on shares of Gilead Sciences in a report on Friday, April 19th. Needham & Company LLC reaffirmed a “hold” rating on shares of Gilead Sciences in a report on Friday. Barclays dropped their target price on shares of Gilead Sciences from $85.00 to $80.00 and set an “equal weight” rating on the stock in a report on Monday, February 12th. Finally, Wells Fargo & Company dropped their target price on shares of Gilead Sciences from $84.00 to $77.00 and set an “equal weight” rating on the stock in a report on Monday, March 4th. Eleven equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $83.87.

Gilead Sciences Trading Up 0.2 %

GILD opened at $65.42 on Friday. The firm’s fifty day simple moving average is $71.28 and its 200 day simple moving average is $76.25. The company has a current ratio of 1.43, a quick ratio of 1.27 and a debt-to-equity ratio of 1.08. Gilead Sciences has a 12 month low of $64.63 and a 12 month high of $87.86. The stock has a market capitalization of $81.45 billion, a P/E ratio of 181.72, a P/E/G ratio of 1.17 and a beta of 0.19.

Gilead Sciences (NASDAQ:GILD) last issued its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($1.32) EPS for the quarter, topping the consensus estimate of ($1.49) by $0.17. Gilead Sciences had a net margin of 1.76% and a return on equity of 23.08%. The firm had revenue of $6.69 billion for the quarter, compared to analysts’ expectations of $6.36 billion. During the same period in the previous year, the firm posted $1.37 EPS. The company’s revenue for the quarter was up 5.3% on a year-over-year basis. As a group, research analysts anticipate that Gilead Sciences will post 4.2 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Merdad Parsey sold 2,000 shares of the stock in a transaction on Monday, April 1st. The shares were sold at an average price of $72.96, for a total value of $145,920.00. Following the transaction, the insider now 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 Securities & Exchange Commission, which is available through this link. 0.16% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Gilead Sciences

Several institutional investors have recently added to or reduced their stakes in GILD. Capital World Investors lifted its position in Gilead Sciences by 2.0% during the 4th quarter. Capital World Investors now owns 83,364,123 shares of the biopharmaceutical company’s stock valued at $6,753,350,000 after acquiring an additional 1,642,736 shares during the period. Capital Research Global Investors grew its stake in shares of Gilead Sciences by 3.0% in the fourth quarter. Capital Research Global Investors now owns 59,657,126 shares of the biopharmaceutical company’s stock worth $4,832,824,000 after acquiring an additional 1,743,418 shares during the period. Wellington Management Group LLP boosted its holdings in shares of Gilead Sciences by 14.4% in the fourth quarter. Wellington Management Group LLP now owns 18,630,134 shares of the biopharmaceutical company’s stock worth $1,509,227,000 after buying an additional 2,350,550 shares during the last quarter. Morgan Stanley boosted its holdings in shares of Gilead Sciences by 0.9% in the third quarter. Morgan Stanley now owns 16,909,619 shares of the biopharmaceutical company’s stock worth $1,267,207,000 after buying an additional 158,794 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Gilead Sciences in the fourth quarter worth approximately $1,301,624,000. Hedge funds and other institutional investors own 83.67% of the company’s stock.

Gilead Sciences Company Profile

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.