Gilead Sciences (NASDAQ:GILD) Price Target Raised to $83.00

Gilead Sciences (NASDAQ:GILD) had its price target boosted by research analysts at Truist Financial from $82.00 to $83.00 in a note issued to investors on Thursday, Benzinga reports. The firm presently has a “hold” rating on the biopharmaceutical company’s stock. Truist Financial’s price objective points to a potential upside of 11.98% from the stock’s previous close.

A number of other research firms have also issued reports on GILD. Maxim Group cut their price target on shares of Gilead Sciences from $90.00 to $85.00 and set a “buy” rating on the stock in a report on Wednesday, May 1st. Cantor Fitzgerald restated a “neutral” rating and set a $70.00 price target on shares of Gilead Sciences in a report on Friday, August 9th. BMO Capital Markets boosted their price target on shares of Gilead Sciences from $80.00 to $85.00 and gave the company an “outperform” rating in a report on Friday, August 9th. Oppenheimer restated an “outperform” rating and set a $105.00 price target on shares of Gilead Sciences in a report on Friday, April 19th. Finally, TD Cowen dropped their price objective on shares of Gilead Sciences from $90.00 to $85.00 and set a “buy” rating on the stock in a research note on Friday, April 26th. Twelve equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Gilead Sciences has an average rating of “Moderate Buy” and an average price target of $81.94.

Gilead Sciences Trading Down 0.0 %

Shares of NASDAQ:GILD opened at $74.12 on Thursday. Gilead Sciences has a twelve month low of $62.07 and a twelve month high of $87.86. The firm has a market cap of $92.34 billion, a P/E ratio of 205.89, a P/E/G ratio of 3.37 and a beta of 0.18. The company has a 50 day moving average of $70.41 and a 200-day moving average of $70.32. The company has a current ratio of 1.08, a quick ratio of 0.94 and a debt-to-equity ratio of 1.31.

Insider Activity

In other news, insider Johanna Mercier sold 5,490 shares of the company’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 completion of the transaction, the insider now owns 114,979 shares in the company, valued at $8,506,146.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Johanna Mercier sold 5,490 shares of the business’s stock in a transaction 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 owns 114,979 shares of the company’s stock, valued at $8,506,146.42. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Merdad Parsey sold 2,000 shares of the business’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $68.63, for a total transaction of $137,260.00. Following the completion of the sale, the insider now directly owns 96,380 shares in the company, valued at approximately $6,614,559.40. The disclosure for this sale can be found here. Corporate insiders own 0.16% of the company’s stock.

Hedge Funds Weigh In On Gilead Sciences

Several institutional investors and hedge funds have recently modified their holdings of GILD. CarsonAllaria Wealth Management Ltd. grew its stake in shares of Gilead Sciences by 198.3% in the second quarter. CarsonAllaria Wealth Management Ltd. now owns 358 shares of the biopharmaceutical company’s stock valued at $25,000 after acquiring an additional 238 shares in the last quarter. Private Wealth Management Group LLC acquired a new stake in Gilead Sciences during the fourth quarter worth about $29,000. Palisade Asset Management LLC bought a new position in shares of Gilead Sciences in the first quarter worth about $29,000. Sachetta LLC bought a new position in shares of Gilead Sciences in the fourth quarter worth about $30,000. Finally, Cedar Wealth Management LLC lifted its holdings in shares of Gilead Sciences by 51.6% in the second quarter. Cedar Wealth Management LLC now owns 470 shares of the biopharmaceutical company’s stock worth $32,000 after acquiring an additional 160 shares during the last quarter. 83.67% of the stock is currently owned by institutional investors and hedge funds.

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.