Gilead Sciences (NASDAQ:GILD) Reaches New 12-Month High on Strong Earnings

Gilead Sciences, Inc. (NASDAQ:GILD) reached a new 52-week high during mid-day trading on Wednesday after the company announced better than expected quarterly earnings. The stock traded as high as $104.71 and last traded at $104.30, with a volume of 4103937 shares. The stock had previously closed at $96.14.

The biopharmaceutical company reported $1.90 earnings per share for the quarter, topping the consensus estimate of $1.67 by $0.23. Gilead Sciences had a return on equity of 29.00% and a net margin of 0.45%.

Wall Street Analyst Weigh In

GILD has been the subject of a number of research analyst reports. Morgan Stanley upped their price objective on shares of Gilead Sciences from $113.00 to $123.00 and gave the stock an “overweight” rating in a research report on Wednesday. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $80.00 target price on shares of Gilead Sciences in a report on Wednesday, December 11th. Royal Bank of Canada reissued a “sector perform” rating and set a $84.00 price target on shares of Gilead Sciences in a research note on Monday, February 3rd. Leerink Partnrs raised Gilead Sciences from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 21st. Finally, Needham & Company LLC reissued a “hold” rating on shares of Gilead Sciences in a research note on Wednesday. Eleven research analysts have rated the stock with a hold rating, thirteen have given a buy rating and four have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $99.04.

Insider Buying and Selling at Gilead Sciences

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

Institutional Investors Weigh In On Gilead Sciences

A number of large investors have recently added to or reduced their stakes in GILD. nVerses Capital LLC bought a new position in shares of Gilead Sciences during the 3rd quarter valued at approximately $25,000. HHM Wealth Advisors LLC raised its holdings in Gilead Sciences by 118.5% during the fourth quarter. HHM Wealth Advisors LLC now owns 284 shares of the biopharmaceutical company’s stock valued at $26,000 after acquiring an additional 154 shares during the period. Valued Wealth Advisors LLC lifted its position in shares of Gilead Sciences by 101.9% in the third 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 in the last quarter. YANKCOM Partnership purchased a new position in Gilead Sciences in the 4th quarter worth approximately $28,000. Finally, Decker Retirement Planning Inc. bought a new position in Gilead Sciences in the 4th quarter worth approximately $29,000. Institutional investors own 83.67% of the company’s stock.

Gilead Sciences Stock Performance

The business’s fifty day simple moving average is $93.14 and its 200-day simple moving average is $87.12. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.10 and a current ratio of 1.26. The firm has a market capitalization of $130.09 billion, a PE ratio of 1,160.51, a price-to-earnings-growth ratio of 1.25 and a beta of 0.18.

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.