Gilead Sciences (NASDAQ:GILD) Stock Rating Reaffirmed by Royal Bank of Canada

Gilead Sciences (NASDAQ:GILD)‘s stock had its “sector perform” rating reiterated by equities researchers at Royal Bank of Canada in a note issued to investors on Monday, Benzinga reports. They currently have a $74.00 price target on the biopharmaceutical company’s stock. Royal Bank of Canada’s price target would indicate a potential upside of 6.37% from the company’s previous close.

A number of other equities analysts have also issued reports on the stock. Needham & Company LLC reiterated a “hold” rating on shares of Gilead Sciences in a research report on Friday, April 26th. HSBC upgraded shares of Gilead Sciences from a “reduce” rating to a “hold” rating and set a $69.00 target price on the stock in a research report on Wednesday, April 24th. Maxim Group reduced their target price on shares of Gilead Sciences from $90.00 to $85.00 and set a “buy” rating on the stock in a research report on Wednesday, May 1st. Morgan Stanley dropped their price target on shares of Gilead Sciences from $80.00 to $78.00 and set an “equal weight” rating for the company in a research note on Friday, April 26th. Finally, UBS Group lowered 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. Twelve 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 stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $83.47.

Gilead Sciences Price Performance

NASDAQ:GILD traded up $0.96 on Monday, reaching $69.57. The stock had a trading volume of 323,625 shares, compared to its average volume of 7,595,478. The company has a market capitalization of $86.67 billion, a P/E ratio of 194.28, a price-to-earnings-growth ratio of 2.92 and a beta of 0.18. Gilead Sciences has a 1-year low of $62.07 and a 1-year high of $87.86. The company has a quick ratio of 0.94, a current ratio of 1.08 and a debt-to-equity ratio of 1.31. The stock has a fifty day moving average price of $65.98 and a 200-day moving average price of $72.51.

Gilead Sciences (NASDAQ:GILD) last released its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($1.32) EPS for the quarter, beating analysts’ consensus estimates of ($1.49) by $0.17. The firm had revenue of $6.69 billion for the quarter, compared to analyst estimates of $6.36 billion. Gilead Sciences had a net margin of 1.76% and a return on equity of 24.34%. The company’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.37 earnings per share. Research analysts forecast that Gilead Sciences will post 3.75 EPS for the current year.

Institutional Trading of Gilead Sciences

A number of large investors have recently added to or reduced their stakes in GILD. Schonfeld Strategic Advisors LLC acquired a new stake in Gilead Sciences in the third quarter valued at $896,000. Truist Financial Corp raised its position in shares of Gilead Sciences by 1.4% in the third quarter. Truist Financial Corp now owns 573,445 shares of the biopharmaceutical company’s stock valued at $42,974,000 after purchasing an additional 7,890 shares during the period. Axxcess Wealth Management LLC raised its position in shares of Gilead Sciences by 61.5% in the third quarter. Axxcess Wealth Management LLC now owns 14,899 shares of the biopharmaceutical company’s stock valued at $1,116,000 after purchasing an additional 5,674 shares during the period. Ameriprise Financial Inc. raised its position in shares of Gilead Sciences by 7.3% in the third quarter. Ameriprise Financial Inc. now owns 1,703,783 shares of the biopharmaceutical company’s stock valued at $127,675,000 after purchasing an additional 115,189 shares during the period. Finally, EHP Funds Inc. raised its position in shares of Gilead Sciences by 20.6% in the third quarter. EHP Funds Inc. now owns 14,900 shares of the biopharmaceutical company’s stock valued at $1,117,000 after purchasing an additional 2,550 shares during the period. 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.