Maxim Group Trims Gilead Sciences (NASDAQ:GILD) Target Price to $85.00

Gilead Sciences (NASDAQ:GILD) had its price target trimmed by Maxim Group from $90.00 to $85.00 in a research note issued to investors on Wednesday, Marketbeat Ratings reports. The firm currently has a buy rating on the biopharmaceutical company’s stock.

A number of other research firms also recently weighed in on GILD. StockNews.com raised Gilead Sciences from a buy rating to a strong-buy rating in a research note on Saturday, April 27th. UBS Group reduced their target price on shares of Gilead Sciences from $81.00 to $75.00 and set a neutral rating for the company in a research note on Wednesday, April 17th. Truist Financial downgraded shares of Gilead Sciences from a buy rating to a hold rating and decreased their target price for the stock from $91.00 to $82.00 in a research report on Thursday, February 22nd. 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 note on Wednesday, April 24th. Finally, Royal Bank of Canada cut their target price on Gilead Sciences from $76.00 to $74.00 and set a sector perform rating on the stock in a report on Friday, April 26th. Eleven research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of Hold and a consensus price target of $83.69.

Gilead Sciences Stock Performance

GILD stock opened at $65.51 on Wednesday. The firm has a 50 day simple moving average of $70.87 and a 200 day simple moving average of $76.01. Gilead Sciences has a 52 week low of $64.63 and a 52 week high of $87.86. The stock has a market cap of $81.57 billion, a P/E ratio of 181.97, a P/E/G ratio of 1.31 and a beta of 0.22. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.72 and a current ratio of 0.98.

Gilead Sciences (NASDAQ:GILD) last issued its 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 1.76% and a return on equity of 24.34%. The company had revenue of $6.69 billion during the quarter, compared to analyst estimates of $6.36 billion. During the same quarter last year, the business posted $1.37 EPS. The company’s revenue for the quarter was up 5.3% on a year-over-year basis. Research analysts anticipate that Gilead Sciences will post 3.74 earnings per share for the current fiscal year.

Gilead Sciences Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Friday, June 14th will be given a $0.77 dividend. This represents a $3.08 annualized dividend and a yield of 4.70%. The ex-dividend date of this dividend is Friday, June 14th. Gilead Sciences’s dividend payout ratio is currently 855.56%.

Insider Activity

In other news, insider Merdad Parsey sold 2,000 shares of the firm’s 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 sale, the insider now owns 96,304 shares in the company, valued at $7,026,339.84. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.16% of the stock is owned by company insiders.

Institutional Trading of Gilead Sciences

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Nilsine Partners LLC increased its stake in Gilead Sciences by 1.1% during the third quarter. Nilsine Partners LLC now owns 11,894 shares of the biopharmaceutical company’s stock valued at $891,000 after acquiring an additional 127 shares during the period. Etesian Wealth Advisors Inc. increased its position in shares of Gilead Sciences by 0.7% during the fourth quarter. Etesian Wealth Advisors Inc. now owns 18,318 shares of the biopharmaceutical company’s stock valued at $1,486,000 after purchasing an additional 128 shares during the period. Financial Counselors Inc. raised its stake in shares of Gilead Sciences by 1.5% in the fourth quarter. Financial Counselors Inc. now owns 8,862 shares of the biopharmaceutical company’s stock valued at $718,000 after purchasing an additional 128 shares in the last quarter. Revolve Wealth Partners LLC lifted its position in Gilead Sciences by 3.7% in the fourth quarter. Revolve Wealth Partners LLC now owns 3,607 shares of the biopharmaceutical company’s stock worth $292,000 after purchasing an additional 130 shares during the period. Finally, Institutional & Family Asset Management LLC boosted its stake in Gilead Sciences by 10.3% during the third quarter. Institutional & Family Asset Management LLC now owns 1,501 shares of the biopharmaceutical company’s stock worth $112,000 after buying an additional 140 shares in the last quarter. 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.