Morgan Stanley Lowers Gilead Sciences (NASDAQ:GILD) Price Target to $79.00

Gilead Sciences (NASDAQ:GILD) had its target price reduced by Morgan Stanley from $80.00 to $79.00 in a research note issued to investors on Friday, BenzingaRatingsTable reports. The brokerage currently has an “equal weight” rating on the biopharmaceutical company’s stock. Morgan Stanley’s price target would indicate a potential upside of 13.62% from the company’s current price.

GILD has been the topic of a number of other research reports. Mizuho restated a “buy” rating and issued a $81.00 target price on shares of Gilead Sciences in a report on Wednesday, May 13th. DZ Bank reissued a “buy” rating on shares of Gilead Sciences in a research note on Monday, June 15th. Cowen reaffirmed a “buy” rating and set a $80.00 target price on shares of Gilead Sciences in a research report on Monday, April 13th. Piper Sandler reissued a “buy” rating and issued a $90.00 price target on shares of Gilead Sciences in a research report on Monday, June 8th. Finally, ValuEngine lowered shares of Gilead Sciences from a “sell” rating to a “strong sell” rating in a research note on Thursday, July 23rd. Four analysts have rated the stock with a sell rating, sixteen have issued a hold rating and nine have given a buy rating to the stock. Gilead Sciences presently has an average rating of “Hold” and a consensus price target of $79.63.

Shares of NASDAQ:GILD opened at $69.53 on Friday. 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 has a 52-week low of $60.89 and a 52-week high of $85.97. The business’s 50 day simple moving average is $75.47 and its two-hundred day simple moving average is $73.57. The firm has a market cap of $87.22 billion, a P/E ratio of -289.70, a PEG ratio of 2.34 and a beta of 0.70.

Gilead Sciences (NASDAQ:GILD) last posted its quarterly earnings results on Thursday, July 30th. The biopharmaceutical company reported $1.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.57 by ($0.46). Gilead Sciences had a negative net margin of 1.16% and a positive return on equity of 32.17%. The business had revenue of $5.14 billion during the quarter, compared to analyst estimates of $5.24 billion. On average, equities analysts forecast that Gilead Sciences will post 6.79 earnings per share for the current fiscal year.

In other news, EVP Brett A. Pletcher sold 13,210 shares of the firm’s stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $79.23, for a total value of $1,046,628.30. Following the completion of the transaction, the executive vice president now directly owns 27,204 shares in the company, valued at $2,155,372.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John Francis Cogan sold 2,416 shares of the business’s stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $81.75, for a total transaction of $197,508.00. Following the transaction, the director now directly owns 57,276 shares of the company’s stock, valued at approximately $4,682,313. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 28,079 shares of company stock worth $2,240,630. 0.13% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in the business. Guggenheim Capital LLC raised its stake in shares of Gilead Sciences by 9.3% during the fourth quarter. Guggenheim Capital LLC now owns 917,971 shares of the biopharmaceutical company’s stock worth $59,650,000 after acquiring an additional 78,152 shares in the last quarter. Macquarie Group Ltd. raised its position in Gilead Sciences by 1.5% in the 4th quarter. Macquarie Group Ltd. now owns 399,336 shares of the biopharmaceutical company’s stock worth $25,948,000 after purchasing an additional 5,806 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its stake in Gilead Sciences by 3.1% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 58,757 shares of the biopharmaceutical company’s stock worth $3,818,000 after purchasing an additional 1,750 shares during the last quarter. Stillwater Investment Management LLC boosted its position in Gilead Sciences by 1.4% during the first quarter. Stillwater Investment Management LLC now owns 39,686 shares of the biopharmaceutical company’s stock valued at $2,967,000 after buying an additional 537 shares during the period. Finally, IMS Capital Management grew its stake in shares of Gilead Sciences by 53.2% during the first quarter. IMS Capital Management now owns 11,473 shares of the biopharmaceutical company’s stock valued at $858,000 after buying an additional 3,982 shares during the last quarter. Institutional investors and hedge funds 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.

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Analyst Recommendations for Gilead Sciences (NASDAQ:GILD)

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