JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Gilead Sciences (NASDAQ:GILD) Stock

Gilead Sciences (NASDAQ:GILD) had its target price lifted by research analysts at JPMorgan Chase & Co. from $120.00 to $130.00 in a report released on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the biopharmaceutical company’s stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 17.26% from the company’s current price.

Several other research analysts have also recently issued reports on the stock. Bank of America raised their target price on shares of Gilead Sciences from $116.00 to $126.00 and gave the stock a “buy” rating in a report on Wednesday, March 5th. The Goldman Sachs Group lifted their target price on shares of Gilead Sciences from $85.00 to $96.00 and gave the stock a “neutral” rating in a report on Wednesday, February 12th. BMO Capital Markets increased their price target on shares of Gilead Sciences from $110.00 to $115.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. Oppenheimer increased their price objective on Gilead Sciences from $115.00 to $132.00 and gave the company an “outperform” rating in a research report on Tuesday, March 4th. Finally, Piper Sandler upped their price objective on Gilead Sciences from $105.00 to $110.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. Eleven equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and four have issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $105.12.

Gilead Sciences Price Performance

Shares of Gilead Sciences stock traded up $1.60 on Thursday, hitting $110.87. 1,096,752 shares of the company traded hands, compared to its average volume of 6,790,662. The firm’s 50-day simple moving average is $104.69 and its 200 day simple moving average is $94.46. Gilead Sciences has a 12-month low of $62.07 and a 12-month high of $119.96. The company has a current ratio of 1.50, a quick ratio of 1.20 and a debt-to-equity ratio of 1.24. The company has a market cap of $138.07 billion, a P/E ratio of 300.31, a P/E/G ratio of 0.71 and a beta of 0.21.

Gilead Sciences (NASDAQ:GILD) last announced its quarterly earnings data on Tuesday, February 11th. The biopharmaceutical company reported $1.90 earnings per share for the quarter, topping analysts’ consensus estimates of $1.67 by $0.23. Gilead Sciences had a net margin of 1.67% and a return on equity of 31.63%. Analysts expect that Gilead Sciences will post 7.95 earnings per share for the current fiscal year.

Insider Transactions at Gilead Sciences

In related news, CFO Andrew D. Dickinson sold 142,180 shares of the firm’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $97.22, for a total value of $13,822,739.60. Following the completion of the transaction, the chief financial officer now owns 129,873 shares in the company, valued at $12,626,253.06. This trade represents a 52.26 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Over the last 90 days, insiders have sold 302,785 shares of company stock worth $30,503,250. Insiders own 0.16% of the company’s stock.

Hedge Funds Weigh In On Gilead Sciences

Several hedge funds and other institutional investors have recently modified their holdings of the business. HHM Wealth Advisors LLC increased its position in Gilead Sciences by 118.5% during the fourth quarter. HHM Wealth Advisors LLC now owns 284 shares of the biopharmaceutical company’s stock worth $26,000 after purchasing an additional 154 shares during the last quarter. YANKCOM Partnership purchased a new stake in shares of Gilead Sciences in the 4th quarter valued at approximately $28,000. Decker Retirement Planning Inc. acquired a new stake in shares of Gilead Sciences during the 4th quarter worth approximately $29,000. Crews Bank & Trust purchased a new position in Gilead Sciences in the fourth quarter worth approximately $31,000. Finally, Stephens Consulting LLC increased its holdings in Gilead Sciences by 325.0% in the 4th quarter. Stephens Consulting LLC now owns 340 shares of the biopharmaceutical company’s stock valued at $31,000 after purchasing an additional 260 shares during the last quarter. 83.67% of the stock is owned by hedge funds and other institutional investors.

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.