Gilead Sciences (NASDAQ:GILD) Coverage Initiated at Citigroup

Citigroup assumed coverage on shares of Gilead Sciences (NASDAQ:GILD) in a research report issued to clients and investors on Thursday, Marketbeat reports. The brokerage set a “buy” rating and a $125.00 price target on the biopharmaceutical company’s stock. Citigroup’s target price points to a potential upside of 41.40% from the company’s current price.

Other equities analysts also recently issued reports about the stock. JPMorgan Chase & Co. lifted their price objective on shares of Gilead Sciences from $100.00 to $105.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Royal Bank of Canada upped their price objective on shares of Gilead Sciences from $75.00 to $81.00 and gave the stock a “sector perform” rating in a research report on Thursday, November 7th. Sanford C. Bernstein assumed coverage on shares of Gilead Sciences in a research note on Thursday, October 17th. They issued an “outperform” rating and a $105.00 price objective for the company. Maxim Group downgraded Gilead Sciences from a “buy” rating to a “hold” rating in a research note on Friday, November 8th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Gilead Sciences in a research report on Thursday, November 7th. Eleven research analysts have rated the stock with a hold rating, eleven have issued a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $93.86.

Gilead Sciences Stock Down 4.0 %

Shares of NASDAQ GILD opened at $88.40 on Thursday. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.26 and a quick ratio of 0.82. Gilead Sciences has a 1 year low of $62.07 and a 1 year high of $98.90. The stock has a market capitalization of $110.17 billion, a P/E ratio of 1,007.67, a P/E/G ratio of 2.85 and a beta of 0.17. The company has a 50-day moving average price of $86.49 and a 200-day moving average price of $75.81.

Gilead Sciences (NASDAQ:GILD) last issued its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported $2.02 EPS for the quarter, topping analysts’ consensus estimates of $1.58 by $0.44. The firm had revenue of $7.55 billion during the quarter, compared to analyst estimates of $7.01 billion. Gilead Sciences had a return on equity of 29.00% and a net margin of 0.45%. The company’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same period in the previous year, the company posted $2.29 EPS. On average, equities research analysts forecast that Gilead Sciences will post 4.39 EPS for the current fiscal year.

Insider Activity at Gilead Sciences

In other Gilead Sciences news, insider Johanna Mercier sold 29,357 shares of Gilead Sciences stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $83.78, for a total transaction of $2,459,529.46. Following the completion of the sale, the insider now directly owns 78,127 shares in the company, valued at $6,545,480.06. The trade was a 27.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Merdad Parsey sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $83.83, for a total transaction of $167,660.00. Following the completion of the transaction, the insider now directly owns 100,189 shares of the company’s stock, valued at approximately $8,398,843.87. This represents a 1.96 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 56,947 shares of company stock valued at $4,968,674. Company insiders own 0.16% of the company’s stock.

Hedge Funds Weigh In On Gilead Sciences

Hedge funds and other institutional investors have recently modified their holdings of the company. Avior Wealth Management LLC raised its stake in shares of Gilead Sciences by 1.2% during the third quarter. Avior Wealth Management LLC now owns 9,422 shares of the biopharmaceutical company’s stock worth $782,000 after acquiring an additional 108 shares in the last quarter. Concord Asset Management LLC VA raised its position in Gilead Sciences by 3.8% in the 3rd quarter. Concord Asset Management LLC VA now owns 3,056 shares of the biopharmaceutical company’s stock worth $256,000 after purchasing an additional 111 shares during the period. TFB Advisors LLC lifted its stake in Gilead Sciences by 1.2% in the third quarter. TFB Advisors LLC now owns 9,397 shares of the biopharmaceutical company’s stock worth $788,000 after purchasing an additional 116 shares during the last quarter. Sumitomo Life Insurance Co. grew its stake in shares of Gilead Sciences by 0.7% during the third quarter. Sumitomo Life Insurance Co. now owns 17,822 shares of the biopharmaceutical company’s stock valued at $1,494,000 after buying an additional 117 shares during the last quarter. Finally, FDx Advisors Inc. grew its stake in shares of Gilead Sciences by 2.2% during the third quarter. FDx Advisors Inc. now owns 5,365 shares of the biopharmaceutical company’s stock valued at $450,000 after buying an additional 117 shares during the last quarter. 83.67% of the stock is currently owned by hedge funds and other institutional investors.

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.