JPMorgan Chase & Co. Increases Gilead Sciences (NASDAQ:GILD) Price Target to $115.00

Gilead Sciences (NASDAQ:GILD) had its target price lifted by JPMorgan Chase & Co. from $105.00 to $115.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the biopharmaceutical company’s stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 18.62% from the stock’s current price.

GILD has been the subject of a number of other research reports. Oppenheimer lifted their price objective on Gilead Sciences from $105.00 to $115.00 and gave the company an “outperform” rating in a research report on Tuesday, December 10th. Truist Financial upped their price objective on shares of Gilead Sciences from $83.00 to $97.00 and gave the company a “hold” rating in a research note on Friday, November 8th. The Goldman Sachs Group raised their target price on shares of Gilead Sciences from $74.00 to $84.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Leerink Partnrs raised shares of Gilead Sciences from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 21st. Finally, Daiwa America raised shares of Gilead Sciences to a “hold” rating in a research note on Monday, November 18th. Eleven investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and four have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Gilead Sciences has a consensus rating of “Moderate Buy” and a consensus target price of $98.39.

Gilead Sciences Trading Up 1.4 %

Shares of GILD stock opened at $96.95 on Wednesday. The company has a market capitalization of $120.83 billion, a price-to-earnings ratio of 1,077.22, a PEG ratio of 1.31 and a beta of 0.18. The company has a current ratio of 1.26, a quick ratio of 1.10 and a debt-to-equity ratio of 1.24. The firm has a 50-day moving average price of $92.14 and a 200 day moving average price of $85.51. Gilead Sciences has a twelve month low of $62.07 and a twelve month high of $98.90.

Gilead Sciences (NASDAQ:GILD) last posted its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported $2.02 earnings per share for the quarter, beating analysts’ consensus estimates of $1.58 by $0.44. Gilead Sciences had a net margin of 0.45% and a return on equity of 29.00%. The business had revenue of $7.55 billion during the quarter, compared to analyst estimates of $7.01 billion. During the same quarter in the previous year, the business posted $2.29 earnings per share. The company’s revenue was up 7.0% on a year-over-year basis. Research analysts forecast that Gilead Sciences will post 4.36 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Merdad Parsey sold 25,590 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $91.50, for a total value of $2,341,485.00. Following the sale, the insider now directly owns 99,599 shares of the company’s stock, valued at $9,113,308.50. This represents a 20.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Andrew D. Dickinson sold 2,500 shares of the firm’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $91.35, for a total transaction of $228,375.00. Following the transaction, the chief financial officer now directly owns 129,873 shares of the company’s stock, valued at approximately $11,863,898.55. This represents a 1.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 456,234 shares of company stock worth $42,130,461. 0.16% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Gilead Sciences

Several large investors have recently modified their holdings of the stock. Bellevue Group AG grew its position in shares of Gilead Sciences by 18.2% in the 3rd quarter. Bellevue Group AG now owns 46,027 shares of the biopharmaceutical company’s stock worth $3,859,000 after acquiring an additional 7,093 shares in the last quarter. Quantinno Capital Management LP lifted its stake in Gilead Sciences by 149.5% during the third quarter. Quantinno Capital Management LP now owns 81,620 shares of the biopharmaceutical company’s stock worth $6,843,000 after purchasing an additional 48,910 shares during the last quarter. IRON Financial LLC acquired a new position in Gilead Sciences in the third quarter worth $830,000. Capital Investment Advisors LLC increased its stake in Gilead Sciences by 2.6% during the fourth quarter. Capital Investment Advisors LLC now owns 387,492 shares of the biopharmaceutical company’s stock valued at $35,793,000 after purchasing an additional 9,791 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its holdings in shares of Gilead Sciences by 12.9% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 323,011 shares of the biopharmaceutical company’s stock worth $27,081,000 after purchasing an additional 36,895 shares during the period. 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.