Gilead Sciences (NASDAQ:GILD) Price Target Raised to $90.00

Gilead Sciences (NASDAQ:GILD) had its target price lifted by Royal Bank of Canada from $84.00 to $90.00 in a research note published on Wednesday,Benzinga reports. Royal Bank of Canada currently has a sector perform rating on the biopharmaceutical company’s stock.

Several other analysts have also recently commented on the stock. UBS Group lifted their target price on shares of Gilead Sciences from $70.00 to $96.00 and gave the stock a “neutral” rating in a research note on Thursday, November 21st. JPMorgan Chase & Co. lifted their target price on shares of Gilead Sciences from $105.00 to $115.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. The Goldman Sachs Group lifted their target price on shares of Gilead Sciences from $74.00 to $84.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Leerink Partners raised shares of Gilead Sciences from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $74.00 to $96.00 in a research note on Monday, October 21st. Finally, Wolfe Research initiated coverage on shares of Gilead Sciences in a research note on Friday, November 15th. They issued an “outperform” rating and a $110.00 target price for the company. Eleven analysts have rated the stock with a hold rating, fourteen have given a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat, Gilead Sciences presently has an average rating of “Moderate Buy” and a consensus target price of $101.33.

Gilead Sciences Trading Down 1.8 %

Shares of Gilead Sciences stock opened at $104.08 on Wednesday. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.26 and a quick ratio of 1.10. Gilead Sciences has a 1 year low of $62.07 and a 1 year high of $106.69. The company has a market capitalization of $129.71 billion, a P/E ratio of 1,156.44, a P/E/G ratio of 1.25 and a beta of 0.18. The business has a 50 day moving average price of $93.63 and a 200 day moving average price of $87.37.

Gilead Sciences (NASDAQ:GILD) last issued its quarterly earnings data on Tuesday, February 11th. The biopharmaceutical company reported $1.90 earnings per share (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 anticipate that Gilead Sciences will post 4.35 EPS for the current fiscal year.

Gilead Sciences Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be issued a $0.79 dividend. The ex-dividend date is Friday, March 14th. This represents a $3.16 dividend on an annualized basis and a yield of 3.04%. This is a positive change from Gilead Sciences’s previous quarterly dividend of $0.77. Gilead Sciences’s payout ratio is currently 854.05%.

Insiders Place Their Bets

In other Gilead Sciences news, CFO Andrew D. Dickinson sold 248,645 shares of the business’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $92.76, for a total value of $23,064,310.20. Following the transaction, the chief financial officer now owns 138,919 shares in the company, valued at $12,886,126.44. The trade was a 64.16 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Merdad Parsey sold 164,211 shares of the business’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $91.92, for a total transaction of $15,094,275.12. Following the completion of the transaction, the insider now owns 80,801 shares in the company, valued at $7,427,227.92. This represents a 67.02 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 710,500 shares of company stock worth $67,684,956 in the last quarter. 0.16% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Gilead Sciences

A number of institutional investors have recently modified their holdings of the stock. Meiji Yasuda Life Insurance Co acquired a new stake in shares of Gilead Sciences in the 4th quarter valued at about $283,000. Eagle Strategies LLC acquired a new stake in shares of Gilead Sciences in the 4th quarter valued at about $286,000. Caisse DE Depot ET Placement DU Quebec grew its position in shares of Gilead Sciences by 149.1% during the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,025,786 shares of the biopharmaceutical company’s stock valued at $94,752,000 after buying an additional 614,059 shares during the last quarter. Parvin Asset Management LLC bought a new stake in shares of Gilead Sciences during the 4th quarter valued at about $74,000. Finally, Rehmann Capital Advisory Group grew its position in shares of Gilead Sciences by 3.8% during the 4th quarter. Rehmann Capital Advisory Group now owns 9,992 shares of the biopharmaceutical company’s stock valued at $923,000 after buying an additional 366 shares during the last quarter. Institutional investors and hedge funds 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.