TD Cowen Trims Gilead Sciences (NASDAQ:GILD) Target Price to $85.00

Gilead Sciences (NASDAQ:GILD) had its target price decreased by TD Cowen from $90.00 to $85.00 in a report issued on Friday morning, Benzinga reports. TD Cowen currently has a buy rating on the biopharmaceutical company’s stock.

GILD has been the topic of a number of other research reports. UBS Group dropped their price objective on shares of Gilead Sciences from $81.00 to $75.00 and set a neutral rating on the stock in a report on Wednesday, April 17th. Barclays dropped their price objective on shares of Gilead Sciences from $85.00 to $80.00 and set an equal weight rating on the stock in a report on Monday, February 12th. Needham & Company LLC restated a hold rating on shares of Gilead Sciences in a research note on Friday. Wells Fargo & Company decreased their target price on shares of Gilead Sciences from $84.00 to $77.00 and set an equal weight rating on the stock in a research note on Monday, March 4th. Finally, Oppenheimer restated an outperform rating and set a $105.00 target price on shares of Gilead Sciences in a research note on Friday, April 19th. Eleven investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of Hold and an average price target of $83.60.

Gilead Sciences Stock Performance

GILD opened at $65.94 on Friday. The company has a current ratio of 0.98, a quick ratio of 0.72 and a debt-to-equity ratio of 1.08. The company has a market cap of $82.10 billion, a price-to-earnings ratio of 183.17, a PEG ratio of 1.29 and a beta of 0.19. The company’s 50 day moving average is $71.16 and its 200 day moving average is $76.17. Gilead Sciences has a 12-month low of $64.63 and a 12-month high of $87.86.

Gilead Sciences (NASDAQ:GILD) last posted its quarterly earnings data on Thursday, April 25th. The biopharmaceutical company reported ($1.32) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.49) by $0.17. The company had revenue of $6.69 billion for the quarter, compared to the consensus estimate of $6.36 billion. Gilead Sciences had a net margin of 1.76% and a return on equity of 24.34%. The firm’s revenue was up 5.3% compared to the same quarter last year. During the same quarter last year, the firm posted $1.37 earnings per share. On average, equities research analysts predict that Gilead Sciences will post 3.82 EPS for the current year.

Gilead Sciences Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Friday, June 14th will be given a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a dividend yield of 4.67%. The ex-dividend date is Friday, June 14th. Gilead Sciences’s payout ratio is currently 855.56%.

Insider Activity

In other news, insider Merdad Parsey sold 2,000 shares of Gilead Sciences stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $72.96, for a total transaction of $145,920.00. Following the sale, the insider now owns 96,304 shares in the company, valued at $7,026,339.84. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.16% of the company’s stock.

Institutional Investors Weigh In On Gilead Sciences

Large investors have recently bought and sold shares of the business. Tompkins Financial Corp increased its position in Gilead Sciences by 223.1% in the third quarter. Tompkins Financial Corp now owns 349 shares of the biopharmaceutical company’s stock worth $26,000 after purchasing an additional 241 shares during the last quarter. Private Wealth Management Group LLC bought a new stake in Gilead Sciences in the fourth quarter worth $29,000. OFI Invest Asset Management bought a new stake in Gilead Sciences in the third quarter worth $26,000. Fortitude Family Office LLC bought a new stake in Gilead Sciences in the fourth quarter worth $29,000. Finally, Sachetta LLC purchased a new position in Gilead Sciences during the fourth quarter worth $30,000. Institutional investors 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.