Gilead Sciences (NASDAQ:GILD) Price Target Cut to $85.00 by Analysts at TD Cowen

Gilead Sciences (NASDAQ:GILD) had its price target reduced by TD Cowen from $90.00 to $85.00 in a note issued to investors on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the biopharmaceutical company’s stock. TD Cowen’s price target would suggest a potential upside of 29.55% from the company’s previous close.

GILD has been the subject of several other reports. Cantor Fitzgerald reduced their price objective on Gilead Sciences from $80.00 to $78.00 and set a “neutral” rating for the company in a report on Wednesday, February 7th. StockNews.com downgraded Gilead Sciences from a “strong-buy” rating to a “buy” rating in a research note on Friday, April 19th. Truist Financial downgraded Gilead Sciences from a “buy” rating to a “hold” rating and lowered their target price for the company from $91.00 to $82.00 in a report on Thursday, February 22nd. Wells Fargo & Company lowered their price objective on shares of Gilead Sciences from $84.00 to $77.00 and set an “equal weight” rating on the stock in a research note on Monday, March 4th. Finally, HSBC raised shares of Gilead Sciences from a “reduce” rating to a “hold” rating and set a $69.00 price objective for the company in a research report on Wednesday. Eleven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $83.87.

Gilead Sciences Stock Up 0.5 %

Shares of NASDAQ GILD traded up $0.34 during mid-day trading on Friday, hitting $65.61. 7,562,287 shares of the stock traded hands, compared to its average volume of 7,415,929. The company has a market cap of $81.69 billion, a price-to-earnings ratio of 14.53, a PEG ratio of 1.20 and a beta of 0.19. The stock has a fifty day moving average price of $71.40 and a 200-day moving average price of $76.32. Gilead Sciences has a 52 week low of $64.63 and a 52 week high of $87.86. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.27 and a current ratio of 1.43.

Gilead Sciences (NASDAQ:GILD) last issued its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($1.32) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.49) by $0.17. Gilead Sciences had a net margin of 20.89% and a return on equity of 38.85%. The company had revenue of $6.69 billion during the quarter, compared to analysts’ expectations of $6.36 billion. During the same period last year, the company posted $1.37 EPS. Gilead Sciences’s revenue was up 5.3% on a year-over-year basis. Research analysts anticipate that Gilead Sciences will post 4.2 EPS for the current year.

Insider Activity

In other Gilead Sciences news, insider Merdad Parsey sold 2,000 shares of the stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $72.96, for a total transaction 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 $7,026,339.84. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.16% of the company’s stock.

Hedge Funds Weigh In On Gilead Sciences

Several hedge funds have recently modified their holdings of the stock. Altfest L J & Co. Inc. acquired a new stake in Gilead Sciences during the 4th quarter worth about $210,000. Federated Hermes Inc. raised its position in Gilead Sciences by 4.9% in the fourth quarter. Federated Hermes Inc. now owns 3,787,355 shares of the biopharmaceutical company’s stock valued at $306,814,000 after purchasing an additional 175,925 shares during the period. Wetzel Investment Advisors Inc. purchased a new position in Gilead Sciences during the fourth quarter worth about $74,000. Abundance Wealth Counselors purchased a new position in shares of Gilead Sciences during the 3rd quarter worth approximately $1,881,000. Finally, HTLF Bank acquired a new position in Gilead Sciences in the 4th quarter valued at about $253,000. Institutional investors and hedge funds own 83.67% of the company’s stock.

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.