Wells Fargo & Company Boosts Gilead Sciences (NASDAQ:GILD) Price Target to $105.00

Gilead Sciences (NASDAQ:GILD) had its price target hoisted by Wells Fargo & Company from $100.00 to $105.00 in a research note issued on Thursday, Benzinga reports. The brokerage currently has an “overweight” rating on the biopharmaceutical company’s stock. Wells Fargo & Company‘s target price would suggest a potential upside of 8.64% from the stock’s current price.

Other research analysts also recently issued reports about the stock. Barclays raised their price target on shares of Gilead Sciences from $76.00 to $84.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. Piper Sandler lifted their target price on Gilead Sciences from $95.00 to $105.00 and gave the stock an “overweight” rating in a research report on Thursday. Royal Bank of Canada reissued a “sector perform” rating and issued a $75.00 price target on shares of Gilead Sciences in a report on Tuesday, October 29th. Truist Financial lifted their price objective on Gilead Sciences from $82.00 to $83.00 and gave the stock a “hold” rating in a report on Thursday, August 15th. Finally, Evercore ISI upgraded Gilead Sciences to a “strong-buy” rating in a research note on Friday, August 9th. Ten investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $88.65.

Gilead Sciences Trading Up 5.4 %

Shares of NASDAQ GILD traded up $4.96 during midday trading on Thursday, reaching $96.65. 2,920,497 shares of the stock were exchanged, compared to its average volume of 6,993,893. The company has a market capitalization of $120.33 billion, a P/E ratio of 117.88, a P/E/G 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 current ratio of 1.14, a quick ratio of 0.95 and a debt-to-equity ratio of 1.18. The stock has a 50 day moving average price of $84.58 and a 200-day moving average price of $74.67.

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

Insider Buying and Selling

In other news, insider Johanna Mercier sold 29,357 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $83.78, for a total transaction of $2,459,529.46. Following the completion of the transaction, the insider now owns 78,127 shares of the company’s stock, valued at approximately $6,545,480.06. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Gilead Sciences news, insider Merdad Parsey sold 2,000 shares of the business’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $83.83, for a total transaction of $167,660.00. Following the completion of the transaction, the insider now owns 100,189 shares in the company, valued at approximately $8,398,843.87. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Johanna Mercier sold 29,357 shares of the firm’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $83.78, for a total value of $2,459,529.46. Following the transaction, the insider now directly owns 78,127 shares in the company, valued at $6,545,480.06. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 36,847 shares of company stock worth $3,033,340 in the last three months. 0.29% of the stock is owned by insiders.

Hedge Funds Weigh In On Gilead Sciences

Institutional investors and hedge funds have recently bought and sold shares of the stock. CarsonAllaria Wealth Management Ltd. lifted its stake in shares of Gilead Sciences by 198.3% in the 2nd quarter. CarsonAllaria Wealth Management Ltd. now owns 358 shares of the biopharmaceutical company’s stock worth $25,000 after acquiring an additional 238 shares during the period. nVerses Capital LLC bought a new stake in Gilead Sciences during the third quarter worth approximately $25,000. Valued Wealth Advisors LLC lifted its position in Gilead Sciences by 101.9% in the third 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 boosted its stake in Gilead Sciences by 51.6% during the 2nd quarter. Cedar Wealth Management LLC now owns 470 shares of the biopharmaceutical company’s stock valued at $32,000 after purchasing an additional 160 shares in the last quarter. Finally, Strategic Investment Solutions Inc. IL acquired a new position in shares of Gilead Sciences during the 2nd quarter valued at $33,000. 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.