Needham & Company LLC Forecasts Strong Price Appreciation for Gilead Sciences (NASDAQ:GILD) Stock

Gilead Sciences (NASDAQ:GILD) had its price objective lifted by equities research analysts at Needham & Company LLC from $133.00 to $140.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the biopharmaceutical company’s stock. Needham & Company LLC’s price target indicates a potential upside of 11.98% from the company’s current price.

GILD has been the topic of a number of other reports. Morgan Stanley increased their target price on Gilead Sciences from $143.00 to $147.00 and gave the stock an “overweight” rating in a report on Friday, October 31st. Cantor Fitzgerald reissued an “overweight” rating and set a $135.00 target price on shares of Gilead Sciences in a research report on Friday, October 31st. Wolfe Research upped their target price on shares of Gilead Sciences from $135.00 to $140.00 and gave the stock an “outperform” rating in a report on Thursday, October 23rd. Sanford C. Bernstein reiterated an “outperform” rating on shares of Gilead Sciences in a research note on Monday, November 3rd. Finally, Royal Bank Of Canada increased their price objective on Gilead Sciences from $100.00 to $105.00 and gave the stock a “sector perform” rating in a research note on Friday, October 31st. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $129.13.

Gilead Sciences Price Performance

GILD stock opened at $125.02 on Thursday. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.32 and a quick ratio of 1.15. The company’s 50-day moving average is $117.44 and its 200-day moving average is $112.77. The stock has a market capitalization of $155.11 billion, a PE ratio of 24.90, a price-to-earnings-growth ratio of 0.81 and a beta of 0.32. Gilead Sciences has a 1 year low of $86.08 and a 1 year high of $127.68.

Gilead Sciences (NASDAQ:GILD) last posted its quarterly earnings results on Thursday, October 30th. The biopharmaceutical company reported $2.47 earnings per share for the quarter, topping analysts’ consensus estimates of $2.16 by $0.31. Gilead Sciences had a return on equity of 50.99% and a net margin of 21.86%.The business had revenue of $7.77 billion for the quarter, compared to the consensus estimate of $7.42 billion. During the same period in the prior year, the business earned $2.02 EPS. The firm’s revenue for the quarter was up 3.0% on a year-over-year basis. Gilead Sciences has set its FY 2025 guidance at 8.050-8.250 EPS. Equities research analysts expect that Gilead Sciences will post 7.95 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Johanna Mercier sold 3,000 shares of the business’s stock in a transaction dated Wednesday, October 15th. The shares were sold at an average price of $118.08, for a total value of $354,240.00. Following the transaction, the insider directly owned 110,193 shares of the company’s stock, valued at approximately $13,011,589.44. The trade was a 2.65% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Daniel Patrick O’day sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, October 28th. The stock was sold at an average price of $119.39, for a total transaction of $1,193,900.00. Following the sale, the chief executive officer owned 581,203 shares of the company’s stock, valued at $69,389,826.17. This trade represents a 1.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 94,646 shares of company stock valued at $11,311,286. Insiders own 0.27% of the company’s stock.

Institutional Investors Weigh In On Gilead Sciences

Large investors have recently modified their holdings of the stock. Activest Wealth Management grew its holdings in Gilead Sciences by 2,837.5% during the first quarter. Activest Wealth Management now owns 235 shares of the biopharmaceutical company’s stock valued at $26,000 after purchasing an additional 227 shares during the period. GoalVest Advisory LLC lifted its position in shares of Gilead Sciences by 7,566.7% during the 2nd quarter. GoalVest Advisory LLC now owns 230 shares of the biopharmaceutical company’s stock valued at $26,000 after buying an additional 227 shares during the last quarter. Corundum Trust Company INC bought a new position in shares of Gilead Sciences during the 3rd quarter worth $26,000. Harbor Asset Planning Inc. purchased a new stake in Gilead Sciences in the 2nd quarter worth about $27,000. Finally, Putney Financial Group LLC raised its stake in Gilead Sciences by 53.4% in the 2nd quarter. Putney Financial Group LLC now owns 270 shares of the biopharmaceutical company’s stock valued at $30,000 after acquiring an additional 94 shares during the period. Hedge funds and other institutional investors 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.