Gilead Sciences (NASDAQ:GILD) Given New $102.00 Price Target at BMO Capital Markets

Gilead Sciences (NASDAQ:GILD) had its target price upped by BMO Capital Markets from $94.00 to $102.00 in a research note issued on Thursday,Benzinga reports. The firm presently has an “outperform” rating on the biopharmaceutical company’s stock. BMO Capital Markets’ price objective would indicate a potential upside of 4.95% from the stock’s previous close.

A number of other analysts have also weighed in on GILD. Leerink Partners upgraded shares of Gilead Sciences from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $74.00 to $96.00 in a research note on Monday, October 21st. JPMorgan Chase & Co. raised their price objective on shares of Gilead Sciences from $95.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday, October 9th. Cantor Fitzgerald raised their price objective on shares of Gilead Sciences from $70.00 to $80.00 and gave the stock a “neutral” rating in a report on Thursday. Needham & Company LLC reissued a “hold” rating on shares of Gilead Sciences in a report on Thursday. Finally, Leerink Partnrs raised shares of Gilead Sciences from a “hold” rating to a “strong-buy” rating in a report on Monday, October 21st. Eleven research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $90.05.

Gilead Sciences Price Performance

Gilead Sciences stock traded up $5.50 during midday trading on Thursday, reaching $97.19. 8,544,501 shares of the stock were exchanged, compared to its average volume of 7,018,311. The company’s fifty day moving average is $84.58 and its 200-day moving average is $74.67. The firm has a market cap of $121.00 billion, a PE ratio of 118.59, a PEG ratio of 3.13 and a beta of 0.17. Gilead Sciences has a 52 week low of $62.07 and a 52 week high of $98.32. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.95 and a current ratio of 1.14.

Gilead Sciences (NASDAQ:GILD) last issued its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported $2.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.58 by $0.44. The company had revenue of $7.55 billion during the quarter, compared to analyst estimates of $7.01 billion. Gilead Sciences had a net margin of 3.79% and a return on equity of 29.34%. Gilead Sciences’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same period last year, the business earned $2.29 EPS. On average, sell-side analysts forecast that Gilead Sciences will post 3.75 EPS for the current year.

Insider Activity

In other news, insider Johanna Mercier sold 5,490 shares of the stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $73.98, for a total transaction of $406,150.20. Following the transaction, the insider now owns 114,979 shares in the company, valued at $8,506,146.42. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, insider Johanna Mercier sold 5,490 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $73.98, for a total value of $406,150.20. Following the sale, the insider now directly owns 114,979 shares of the company’s stock, valued at approximately $8,506,146.42. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 shares were sold at an average price of $83.83, for a total transaction of $167,660.00. Following the completion of the sale, the insider now directly owns 100,189 shares in the company, valued at $8,398,843.87. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 36,847 shares of company stock worth $3,033,340 in the last quarter. Corporate insiders own 0.29% of the company’s stock.

Hedge Funds Weigh In On Gilead Sciences

Large investors have recently bought and sold shares of the company. CarsonAllaria Wealth Management Ltd. grew its stake in shares of Gilead Sciences by 198.3% during the 2nd quarter. CarsonAllaria Wealth Management Ltd. now owns 358 shares of the biopharmaceutical company’s stock worth $25,000 after purchasing an additional 238 shares during the period. nVerses Capital LLC acquired a new position in shares of Gilead Sciences during the 3rd quarter worth $25,000. Valued Wealth Advisors LLC grew its stake in shares of Gilead Sciences by 101.9% during the 3rd quarter. Valued Wealth Advisors LLC now owns 319 shares of the biopharmaceutical company’s stock worth $27,000 after purchasing an additional 161 shares during the period. Cedar Wealth Management LLC grew its stake in shares of Gilead Sciences by 51.6% during the 2nd quarter. Cedar Wealth Management LLC now owns 470 shares of the biopharmaceutical company’s stock worth $32,000 after purchasing an additional 160 shares during the period. Finally, Strategic Investment Solutions Inc. IL acquired a new position in shares of Gilead Sciences during the 2nd quarter worth $33,000. 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.