Gilead Sciences (NASDAQ:GILD) Coverage Initiated by Analysts at Wolfe Research

Analysts at Wolfe Research started coverage on shares of Gilead Sciences (NASDAQ:GILD - Get Free Report) in a research report issued to clients and investors on Friday, MarketBeat.com reports. The brokerage set an "outperform" rating and a $110.00 price target on the biopharmaceutical company's stock. Wolfe Research's price objective would indicate a potential upside of 24.43% from the company's current price.

A number of other equities analysts have also recently commented on GILD. Truist Financial lifted their price objective on shares of Gilead Sciences from $83.00 to $97.00 and gave the stock a "hold" rating in a research note on Friday, November 8th. Evercore ISI raised shares of Gilead Sciences to a "strong-buy" rating in a report on Friday, August 9th. Cantor Fitzgerald boosted their price objective on shares of Gilead Sciences from $70.00 to $80.00 and gave the company a "neutral" rating in a report on Thursday, November 7th. Leerink Partnrs upgraded shares of Gilead Sciences from a "hold" rating to a "strong-buy" rating in a research report on Monday, October 21st. Finally, Sanford C. Bernstein started coverage on shares of Gilead Sciences in a report on Thursday, October 17th. They set an "outperform" rating and a $105.00 target price on the stock. Eleven research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $93.86.

Gilead Sciences Price Performance

NASDAQ:GILD traded down $3.71 during midday trading on Friday, hitting $88.40. The company had a trading volume of 11,372,299 shares, compared to its average volume of 7,101,981. The company has a market capitalization of $110.17 billion, a PE ratio of 1,007.67, a P/E/G ratio of 2.85 and a beta of 0.17. The stock's fifty day moving average price is $86.49 and its 200-day moving average price 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 52-week low of $62.07 and a 52-week high of $98.90.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last posted 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 firm had revenue of $7.55 billion for the quarter, compared to analysts' expectations of $7.01 billion. Gilead Sciences had a net margin of 0.45% and a return on equity of 29.00%. The business's revenue for the quarter was up 7.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.29 earnings per share. As a group, research analysts expect that Gilead Sciences will post 4.39 earnings per share for the current year.

Insider Buying and Selling at Gilead Sciences

In other news, insider Merdad Parsey sold 25,590 shares of the firm's stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $91.50, for a total transaction of $2,341,485.00. Following the completion of the transaction, the insider now directly owns 99,599 shares of the company's stock, valued at $9,113,308.50. This trade represents a 20.44 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Johanna Mercier sold 29,357 shares of the firm's stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $83.78, for a total transaction of $2,459,529.46. Following the transaction, the insider now directly owns 78,127 shares of the company's stock, valued at $6,545,480.06. This represents a 27.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 56,947 shares of company stock worth $4,968,674. Company insiders own 0.16% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of GILD. Koshinski Asset Management Inc. bought a new position in Gilead Sciences during the 1st quarter worth approximately $217,000. M&G Plc purchased a new stake in Gilead Sciences in the 1st quarter worth approximately $7,082,000. Nicolet Advisory Services LLC lifted its holdings in Gilead Sciences by 12.9% in the 1st quarter. Nicolet Advisory Services LLC now owns 2,941 shares of the biopharmaceutical company's stock worth $206,000 after buying an additional 336 shares during the period. Allstate Corp lifted its holdings in Gilead Sciences by 4.6% in the 1st quarter. Allstate Corp now owns 4,249 shares of the biopharmaceutical company's stock worth $311,000 after buying an additional 187 shares during the period. Finally, Chiron Capital Management LLC lifted its holdings in Gilead Sciences by 47.4% in the 1st quarter. Chiron Capital Management LLC now owns 19,571 shares of the biopharmaceutical company's stock worth $1,434,000 after buying an additional 6,291 shares during the period. 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.