Gilead Sciences (NASDAQ:GILD) Given New $96.00 Price Target at The Goldman Sachs Group

Gilead Sciences (NASDAQ:GILD) had its price target raised by equities research analysts at The Goldman Sachs Group from $85.00 to $96.00 in a report released on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the biopharmaceutical company’s stock. The Goldman Sachs Group’s price target would indicate a potential downside of 7.14% from the stock’s current price.

A number of other equities analysts have also recently weighed in on the stock. BMO Capital Markets upped their price objective on shares of Gilead Sciences from $110.00 to $115.00 and gave the company an “outperform” rating in a research report on Wednesday. Barclays increased their price target on Gilead Sciences from $84.00 to $95.00 and gave the company an “equal weight” rating in a report on Thursday, November 7th. Needham & Company LLC reaffirmed a “hold” rating on shares of Gilead Sciences in a research report on Wednesday. Robert W. Baird increased their price objective on shares of Gilead Sciences from $80.00 to $95.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Finally, JPMorgan Chase & Co. increased their price target on shares of Gilead Sciences from $105.00 to $115.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. Eleven equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and four have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $101.04.

Gilead Sciences Stock Up 7.5 %

Shares of NASDAQ GILD traded up $7.24 on Wednesday, hitting $103.38. The company had a trading volume of 7,478,520 shares, compared to its average volume of 6,991,980. The firm has a market capitalization of $128.83 billion, a P/E ratio of 1,148.89, a PEG ratio of 1.25 and a beta of 0.18. The company has a quick ratio of 1.10, a current ratio of 1.26 and a debt-to-equity ratio of 1.24. Gilead Sciences has a 12-month low of $62.07 and a 12-month high of $104.71. The business has a 50 day moving average of $93.14 and a two-hundred day moving average of $87.12.

Gilead Sciences (NASDAQ:GILD) last issued its quarterly earnings data on Tuesday, February 11th. The biopharmaceutical company reported $1.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.67 by $0.23. Gilead Sciences had a net margin of 0.45% and a return on equity of 29.00%. As a group, equities research analysts forecast that Gilead Sciences will post 4.35 earnings per share for the current fiscal year.

Insider Buying and Selling at Gilead Sciences

In other Gilead Sciences news, CFO Andrew D. Dickinson sold 248,645 shares of the firm’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $92.76, for a total transaction of $23,064,310.20. Following the transaction, the chief financial officer now owns 138,919 shares in the company, valued at approximately $12,886,126.44. This trade represents a 64.16 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jeffrey Bluestone sold 6,788 shares of the company’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $91.39, for a total value of $620,355.32. Following the completion of the sale, the director now directly owns 8,920 shares of the company’s stock, valued at approximately $815,198.80. This trade represents a 43.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 572,824 shares of company stock worth $53,611,715. 0.16% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Gilead Sciences

Several institutional investors and hedge funds have recently made changes to their positions in GILD. State Street Corp grew its stake in Gilead Sciences by 1.4% in the third quarter. State Street Corp now owns 60,171,691 shares of the biopharmaceutical company’s stock valued at $5,044,795,000 after acquiring an additional 841,776 shares during the period. Wellington Management Group LLP lifted its holdings in shares of Gilead Sciences by 50.9% during the 3rd quarter. Wellington Management Group LLP now owns 34,600,676 shares of the biopharmaceutical company’s stock valued at $2,900,921,000 after purchasing an additional 11,665,593 shares in the last quarter. FMR LLC grew its position in shares of Gilead Sciences by 79.4% in the 3rd quarter. FMR LLC now owns 33,162,319 shares of the biopharmaceutical company’s stock valued at $2,780,329,000 after purchasing an additional 14,680,161 shares during the period. Geode Capital Management LLC increased its stake in Gilead Sciences by 2.1% during the 3rd quarter. Geode Capital Management LLC now owns 27,540,870 shares of the biopharmaceutical company’s stock worth $2,302,119,000 after purchasing an additional 574,421 shares in the last quarter. Finally, Norges Bank bought a new position in Gilead Sciences in the fourth quarter valued at approximately $1,789,254,000. Institutional investors and hedge funds own 83.67% of the company’s stock.

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.