Gilead Sciences (NASDAQ:GILD) PT Lowered to $74.00 at Royal Bank of Canada

Gilead Sciences (NASDAQ:GILD) had its price objective lowered by stock analysts at Royal Bank of Canada from $76.00 to $74.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm presently has a “sector perform” rating on the biopharmaceutical company’s stock. Royal Bank of Canada’s price target would indicate a potential upside of 12.50% from the company’s current price.

Other analysts have also issued reports about the company. Needham & Company LLC reissued a “hold” rating on shares of Gilead Sciences in a report on Friday. Cantor Fitzgerald reduced their target price on Gilead Sciences from $80.00 to $78.00 and set a “neutral” rating for the company in a report on Wednesday, February 7th. Wells Fargo & Company reduced their target price on Gilead Sciences from $84.00 to $77.00 and set an “equal weight” rating for the company in a report on Monday, March 4th. Barclays dropped their price objective on Gilead Sciences from $85.00 to $80.00 and set an “equal weight” rating on the stock in a research note on Monday, February 12th. Finally, Oppenheimer restated an “outperform” rating and set a $105.00 target price on shares of Gilead Sciences in a research report on Friday, April 19th. Eleven analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Gilead Sciences currently has a consensus rating of “Hold” and an average price target of $84.50.

Gilead Sciences Stock Up 0.8 %

Shares of GILD stock traded up $0.51 on Friday, hitting $65.78. 5,973,416 shares of the stock were exchanged, compared to its average volume of 7,392,564. Gilead Sciences has a fifty-two week low of $64.63 and a fifty-two week high of $87.86. The firm has a market capitalization of $81.90 billion, a P/E ratio of 14.58, a price-to-earnings-growth ratio of 1.20 and a beta of 0.19. 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 business has a 50-day moving average of $71.40 and a 200 day moving average of $76.32.

Gilead Sciences (NASDAQ:GILD) last released its quarterly earnings data on Thursday, April 25th. The biopharmaceutical company reported ($1.32) earnings per share for the quarter, beating the consensus estimate of ($1.49) by $0.17. The company 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%. Gilead Sciences’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter last year, the business posted $1.37 EPS. Equities analysts anticipate that Gilead Sciences will post 4.2 EPS for the current year.

Insider Buying and Selling

In related news, insider Merdad Parsey sold 2,000 shares of the business’s 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 sale, the insider now 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 can be accessed through this link. 0.16% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Gilead Sciences

Several large investors have recently bought and sold shares of GILD. OFI Invest Asset Management acquired a new stake in shares of Gilead Sciences during the third quarter valued at about $26,000. Tompkins Financial Corp boosted its position in Gilead Sciences by 223.1% during the 3rd quarter. Tompkins Financial Corp now owns 349 shares of the biopharmaceutical company’s stock valued at $26,000 after acquiring an additional 241 shares in the last quarter. Fortitude Family Office LLC bought a new stake in shares of Gilead Sciences in the 4th quarter worth $29,000. Private Wealth Management Group LLC purchased a new stake in shares of Gilead Sciences in the 4th quarter worth $29,000. Finally, Sachetta LLC bought a new position in shares of Gilead Sciences during the 4th quarter valued at about $30,000. 83.67% of the stock is currently owned by institutional investors and hedge funds.

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.