Gilead Sciences (NASDAQ:GILD) PT Lowered to $76.00

Gilead Sciences (NASDAQ:GILD) had its price target dropped by analysts at Wells Fargo & Co from $87.00 to $76.00 in a research note issued on Friday, The Fly reports. The brokerage presently has an “equal weight” rating on the biopharmaceutical company’s stock. Wells Fargo & Co‘s price target indicates a potential upside of 9.31% from the stock’s previous close.

A number of other research analysts have also recently weighed in on the stock. Cowen restated a “buy” rating and issued a $80.00 price objective on shares of Gilead Sciences in a report on Monday, April 13th. Morgan Stanley lifted their price objective on shares of Gilead Sciences from $77.00 to $80.00 and gave the company an “equal weight” rating in a report on Wednesday, July 15th. SunTrust Banks upgraded shares of Gilead Sciences from a “sell” rating to a “hold” rating and lifted their price objective for the company from $70.00 to $73.00 in a report on Tuesday, May 26th. Raymond James cut shares of Gilead Sciences from an “outperform” rating to a “market perform” rating in a report on Friday, May 1st. Finally, Piper Sandler restated a “buy” rating and issued a $90.00 price objective on shares of Gilead Sciences in a report on Monday, June 8th. Four research analysts have rated the stock with a sell rating, sixteen have given a hold rating and nine have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $79.63.

Shares of Gilead Sciences stock traded down $2.80 on Friday, reaching $69.53. The company had a trading volume of 20,558,846 shares, compared to its average volume of 6,482,609. The firm’s 50 day moving average price is $75.47 and its two-hundred day moving average price is $73.57. The firm has a market cap of $87.22 billion, a PE ratio of -289.70, a PEG ratio of 2.34 and a beta of 0.70. Gilead Sciences has a 52-week low of $60.89 and a 52-week high of $85.97. The company has a debt-to-equity ratio of 1.00, a quick ratio of 2.92 and a current ratio of 3.04.

Gilead Sciences (NASDAQ:GILD) last released its quarterly earnings results on Thursday, July 30th. The biopharmaceutical company reported $1.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.46). The company had revenue of $5.14 billion during the quarter, compared to analysts’ expectations of $5.24 billion. Gilead Sciences had a negative net margin of 1.16% and a positive return on equity of 32.17%. As a group, sell-side analysts predict that Gilead Sciences will post 6.79 EPS for the current year.

In related news, CAO Diane E. Wilfong sold 12,264 shares of the company’s stock in a transaction on Monday, May 4th. The shares were sold at an average price of $80.09, for a total value of $982,223.76. Following the completion of the sale, the chief accounting officer now owns 23,685 shares in the company, valued at approximately $1,896,931.65. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Brett A. Pletcher sold 13,210 shares of the company’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $79.23, for a total transaction of $1,046,628.30. Following the completion of the sale, the executive vice president now owns 27,204 shares of the company’s stock, valued at approximately $2,155,372.92. The disclosure for this sale can be found here. In the last 90 days, insiders sold 28,079 shares of company stock valued at $2,240,630. Company insiders own 0.13% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in GILD. Capital International Investors raised its position in Gilead Sciences by 336.8% in the 1st quarter. Capital International Investors now owns 56,369,657 shares of the biopharmaceutical company’s stock valued at $4,214,200,000 after purchasing an additional 43,464,551 shares during the last quarter. Capital World Investors raised its position in Gilead Sciences by 123.0% in the 1st quarter. Capital World Investors now owns 46,331,318 shares of the biopharmaceutical company’s stock valued at $3,463,732,000 after purchasing an additional 25,555,467 shares during the last quarter. Capital Research Global Investors raised its position in Gilead Sciences by 12.7% in the 1st quarter. Capital Research Global Investors now owns 95,982,319 shares of the biopharmaceutical company’s stock valued at $7,175,643,000 after purchasing an additional 10,849,434 shares during the last quarter. APG Asset Management N.V. raised its position in Gilead Sciences by 237.9% during the 1st quarter. APG Asset Management N.V. now owns 2,417,175 shares of the biopharmaceutical company’s stock worth $139,948,000 after buying an additional 1,701,818 shares during the last quarter. Finally, First Trust Advisors LP raised its position in Gilead Sciences by 110.8% during the 2nd quarter. First Trust Advisors LP now owns 3,237,076 shares of the biopharmaceutical company’s stock worth $249,061,000 after buying an additional 1,701,510 shares during the last quarter. Hedge funds and other institutional investors own 78.74% of the company’s stock.

Gilead Sciences Company Profile

Gilead Sciences, Inc, a research-based biopharmaceutical company, discovers, develops, and commercializes medicines in the areas of unmet medical needs in the United States, Europe, and internationally. The company's products include Biktarvy, Descovy, Odefsey, Genvoya, Stribild, Complera/Eviplera, Atripla, and Truvada for the treatment of human immunodeficiency virus (HIV) infection in adults; and Vosevi, Vemlidy, Epclusa, Harvoni, and Viread products for treating liver diseases.

See Also: What is the Dow Jones Industrial Average (DJIA)?

The Fly

Analyst Recommendations for Gilead Sciences (NASDAQ:GILD)

Receive News & Ratings for Gilead Sciences Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gilead Sciences and related companies with MarketBeat.com's FREE daily email newsletter.