Morgan Stanley Forecasts Strong Price Appreciation for Gilead Sciences (NASDAQ:GILD) Stock

Gilead Sciences (NASDAQ:GILD) had its target price raised by stock analysts at Morgan Stanley from $113.00 to $123.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the biopharmaceutical company’s stock. Morgan Stanley’s price target would suggest a potential upside of 16.08% from the company’s previous close.

GILD has been the subject of several other research reports. Barclays lifted their price objective on Gilead Sciences from $84.00 to $95.00 and gave the company an “equal weight” rating in a research report on Thursday, November 7th. UBS Group lifted their price objective on Gilead Sciences from $70.00 to $96.00 and gave the company a “neutral” rating in a research report on Thursday, November 21st. Leerink Partnrs upgraded Gilead Sciences from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 21st. Leerink Partners upgraded Gilead Sciences from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $74.00 to $96.00 in a research report on Monday, October 21st. Finally, Cantor Fitzgerald reiterated a “neutral” rating and issued a $80.00 price objective on shares of Gilead Sciences in a research report on Wednesday, December 11th. Eleven research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $101.33.

Gilead Sciences Price Performance

Shares of NASDAQ:GILD opened at $105.96 on Wednesday. Gilead Sciences has a 1-year low of $62.07 and a 1-year high of $106.43. The firm has a market capitalization of $132.05 billion, a PE ratio of 1,177.33, a PEG ratio of 1.25 and a beta of 0.18. The business’s 50 day moving average is $93.38 and its 200-day moving average is $87.24. The company has a current ratio of 1.26, a quick ratio of 1.10 and a debt-to-equity ratio of 1.24.

Gilead Sciences (NASDAQ:GILD) last posted its earnings results on Tuesday, February 11th. The biopharmaceutical company reported $1.90 EPS for the quarter, topping the consensus estimate of $1.67 by $0.23. Gilead Sciences had a return on equity of 29.00% and a net margin of 0.45%. Sell-side analysts predict that Gilead Sciences will post 4.35 earnings per share for the current year.

Insider Transactions at Gilead Sciences

In related news, CFO Andrew D. Dickinson sold 2,500 shares of the company’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $91.35, for a total transaction of $228,375.00. Following the sale, the chief financial officer now owns 129,873 shares in the company, valued at approximately $11,863,898.55. This represents a 1.89 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Merdad Parsey sold 164,211 shares of the company’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $91.92, for a total value of $15,094,275.12. Following the sale, the insider now owns 80,801 shares in the company, valued at $7,427,227.92. The trade was a 67.02 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 710,500 shares of company stock valued at $67,684,956 over the last three months. Company insiders own 0.16% of the company’s stock.

Institutional Trading of Gilead Sciences

Several institutional investors and hedge funds have recently bought and sold shares of the stock. nVerses Capital LLC bought a new stake in Gilead Sciences in the third quarter valued at approximately $25,000. HHM Wealth Advisors LLC raised its stake in Gilead Sciences by 118.5% in the fourth quarter. HHM Wealth Advisors LLC now owns 284 shares of the biopharmaceutical company’s stock valued at $26,000 after buying an additional 154 shares during the period. Valued Wealth Advisors LLC grew its position in shares of Gilead Sciences by 101.9% in the third quarter. Valued Wealth Advisors LLC now owns 319 shares of the biopharmaceutical company’s stock valued at $27,000 after purchasing an additional 161 shares during the last quarter. YANKCOM Partnership acquired a new position in shares of Gilead Sciences in the fourth quarter valued at approximately $28,000. Finally, Decker Retirement Planning Inc. acquired a new position in shares of Gilead Sciences in the fourth quarter valued at approximately $29,000. Institutional investors own 83.67% of the company’s stock.

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.