Wolfe Research Issues Positive Forecast for Gilead Sciences (NASDAQ:GILD) Stock Price

Gilead Sciences (NASDAQ:GILD) had its price target increased by Wolfe Research from $150.00 to $155.00 in a research note published on Wednesday,MarketScreener reports. The brokerage currently has an outperform rating on the biopharmaceutical company’s stock.

Other equities research analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. upped their price target on shares of Gilead Sciences from $145.00 to $150.00 and gave the stock an “overweight” rating in a research report on Friday, October 31st. The Goldman Sachs Group upped their target price on Gilead Sciences from $110.00 to $115.00 and gave the stock a “neutral” rating in a report on Thursday, January 8th. Needham & Company LLC lifted their price target on Gilead Sciences from $133.00 to $140.00 and gave the company a “buy” rating in a report on Thursday, November 13th. BMO Capital Markets upped their price objective on Gilead Sciences from $135.00 to $150.00 and gave the stock an “outperform” rating in a research note on Monday. Finally, Morgan Stanley cut their target price on Gilead Sciences from $151.00 to $150.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 13th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $135.56.

Gilead Sciences Stock Up 0.1%

Shares of GILD stock traded up $0.15 during mid-day trading on Wednesday, hitting $139.87. The stock had a trading volume of 538,730 shares, compared to its average volume of 7,295,567. Gilead Sciences has a 12-month low of $93.37 and a 12-month high of $141.71. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.45 and a quick ratio of 1.31. The firm’s 50-day moving average is $124.76 and its two-hundred day moving average is $119.24. The firm has a market capitalization of $173.53 billion, a P/E ratio of 21.64, a price-to-earnings-growth ratio of 0.74 and a beta of 0.33.

Gilead Sciences (NASDAQ:GILD) last released its quarterly earnings data on Thursday, October 30th. The biopharmaceutical company reported $2.47 earnings per share for the quarter, beating the consensus estimate of $2.16 by $0.31. The firm had revenue of $7.77 billion during the quarter, compared to the consensus estimate of $7.42 billion. Gilead Sciences had a return on equity of 51.86% and a net margin of 27.88%.The firm’s quarterly revenue was up 3.0% on a year-over-year basis. During the same period in the previous year, the company posted $2.02 earnings per share. On average, analysts predict that Gilead Sciences will post 7.95 earnings per share for the current fiscal year.

Insider Buying and Selling at Gilead Sciences

In related news, Director Kelly A. Kramer sold 2,805 shares of Gilead Sciences stock in a transaction that occurred on Friday, November 28th. The shares were sold at an average price of $127.10, for a total value of $356,515.50. Following the completion of the sale, the director directly owned 1,339 shares in the company, valued at $170,186.90. This trade represents a 67.69% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Daniel Patrick O’day sold 115,640 shares of the company’s stock in a transaction that occurred on Friday, January 23rd. The shares were sold at an average price of $135.00, for a total transaction of $15,611,400.00. Following the transaction, the chief executive officer owned 566,698 shares in the company, valued at $76,504,230. The trade was a 16.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 247,397 shares of company stock valued at $31,986,612. Insiders own 0.27% of the company’s stock.

Hedge Funds Weigh In On Gilead Sciences

Several hedge funds have recently made changes to their positions in the company. Norges Bank purchased a new position in shares of Gilead Sciences during the second quarter worth $2,150,268,000. Ameriprise Financial Inc. grew its position in Gilead Sciences by 397.6% during the 2nd quarter. Ameriprise Financial Inc. now owns 6,748,403 shares of the biopharmaceutical company’s stock worth $748,147,000 after purchasing an additional 5,392,191 shares during the period. Massachusetts Financial Services Co. MA grew its position in Gilead Sciences by 3,763.8% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 4,223,304 shares of the biopharmaceutical company’s stock worth $518,368,000 after purchasing an additional 4,113,999 shares during the period. Invesco Ltd. raised its stake in shares of Gilead Sciences by 33.5% during the 2nd quarter. Invesco Ltd. now owns 13,521,228 shares of the biopharmaceutical company’s stock valued at $1,499,098,000 after buying an additional 3,394,330 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in shares of Gilead Sciences by 164.4% in the third quarter. Assenagon Asset Management S.A. now owns 3,489,062 shares of the biopharmaceutical company’s stock worth $387,286,000 after buying an additional 2,169,266 shares during the last quarter. 83.67% of the stock is owned by institutional investors and hedge funds.

Gilead Sciences Company Profile

Gilead Sciences, Inc, founded in 1987 and headquartered in Foster City, California, is a biopharmaceutical company focused on the discovery, development and commercialization of medicines in areas of high unmet medical need. The company initially built its reputation in antiviral therapies and has since expanded into oncology, cell therapy and inflammatory diseases. Gilead operates a global research and commercial organization, conducting clinical development and selling medicines in markets around the world.

Gilead’s product portfolio is anchored by antiviral therapies for HIV and viral hepatitis.