Gilead Sciences (NASDAQ:GILD) Now Covered by Citigroup

Analysts at Citigroup began coverage on shares of Gilead Sciences (NASDAQ:GILD) in a research note issued on Thursday, MarketBeat.com reports. The firm set a “buy” rating and a $125.00 price target on the biopharmaceutical company’s stock. Citigroup’s target price suggests a potential upside of 41.40% from the company’s previous close.

A number of other research analysts also recently issued reports on GILD. JPMorgan Chase & Co. boosted their price objective on shares of Gilead Sciences from $100.00 to $105.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Leerink Partners upgraded shares of Gilead Sciences from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $74.00 to $96.00 in a research report on Monday, October 21st. Needham & Company LLC restated a “hold” rating on shares of Gilead Sciences in a report on Thursday, November 7th. Evercore ISI upgraded Gilead Sciences to a “strong-buy” rating in a report on Friday, August 9th. Finally, Cantor Fitzgerald raised their target price on Gilead Sciences from $70.00 to $80.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Eleven investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $93.86.

Gilead Sciences Price Performance

Shares of Gilead Sciences stock opened at $88.40 on Thursday. The firm has a market cap of $110.17 billion, a PE ratio of 1,007.67, a price-to-earnings-growth ratio of 2.85 and a beta of 0.17. The company’s fifty day simple moving average is $86.49 and its two-hundred day simple moving average is $75.81. The company has a quick ratio of 0.82, 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 $98.90.

Gilead Sciences (NASDAQ:GILD) last released its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported $2.02 EPS for the quarter, beating analysts’ consensus estimates of $1.58 by $0.44. The business had revenue of $7.55 billion during the quarter, compared to analyst estimates of $7.01 billion. Gilead Sciences had a return on equity of 29.00% and a net margin of 0.45%. Gilead Sciences’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.29 EPS. As a group, equities analysts expect that Gilead Sciences will post 4.39 EPS for the current year.

Insider Buying and Selling

In related news, insider Johanna Mercier sold 29,357 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $83.78, for a total value of $2,459,529.46. Following the sale, the insider now owns 78,127 shares in the company, valued at approximately $6,545,480.06. This trade represents a 27.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Merdad Parsey sold 2,000 shares of the business’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $83.83, for a total transaction of $167,660.00. Following the sale, the insider now owns 100,189 shares of the company’s stock, valued at approximately $8,398,843.87. This represents a 1.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 56,947 shares of company stock worth $4,968,674. 0.16% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Gilead Sciences

A number of large investors have recently made changes to their positions in GILD. CarsonAllaria Wealth Management Ltd. boosted its holdings in shares of Gilead Sciences by 198.3% in the second quarter. CarsonAllaria Wealth Management Ltd. now owns 358 shares of the biopharmaceutical company’s stock worth $25,000 after buying an additional 238 shares during the last quarter. nVerses Capital LLC purchased a new position in shares of Gilead Sciences during the 3rd quarter worth $25,000. Valued Wealth Advisors LLC grew its position in shares of Gilead Sciences by 101.9% during the 3rd quarter. Valued Wealth Advisors LLC now owns 319 shares of the biopharmaceutical company’s stock valued at $27,000 after acquiring an additional 161 shares during the period. Cedar Wealth Management LLC increased its stake in shares of Gilead Sciences by 51.6% in the 2nd quarter. Cedar Wealth Management LLC now owns 470 shares of the biopharmaceutical company’s stock worth $32,000 after purchasing an additional 160 shares in the last quarter. Finally, Strategic Investment Solutions Inc. IL bought a new position in Gilead Sciences in the 2nd quarter worth $33,000. 83.67% of the stock is currently owned by institutional investors.

Gilead Sciences Company Profile

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.