Gilead Sciences (NASDAQ:GILD) Given New $84.00 Price Target at Royal Bank of Canada

Gilead Sciences (NASDAQ:GILD - Get Free Report) had its price target hoisted by investment analysts at Royal Bank of Canada from $81.00 to $84.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has a "sector perform" rating on the biopharmaceutical company's stock. Royal Bank of Canada's price objective indicates a potential downside of 5.04% from the company's current price.

Several other equities analysts have also recently commented on GILD. Maxim Group cut shares of Gilead Sciences from a "buy" rating to a "hold" rating in a research report on Friday, November 8th. Evercore ISI raised shares of Gilead Sciences to a "strong-buy" rating in a report on Friday, August 9th. Barclays lifted their price target on shares of Gilead Sciences from $84.00 to $95.00 and gave the stock an "equal weight" rating in a report on Thursday, November 7th. Wells Fargo & Company lifted their price target on shares of Gilead Sciences from $100.00 to $105.00 and gave the stock an "overweight" rating in a report on Thursday, November 7th. Finally, Citigroup started coverage on shares of Gilead Sciences in a report on Thursday. They issued a "buy" rating and a $125.00 price target on the stock. Eleven equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and four have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $94.00.

Gilead Sciences Stock Up 0.1 %

Shares of GILD traded up $0.06 during trading hours on Monday, hitting $88.46. The stock had a trading volume of 9,099,602 shares, compared to its average volume of 7,110,947. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.26 and a quick ratio of 0.82. The firm has a 50 day simple moving average of $86.68 and a 200-day simple moving average of $76.11. The firm has a market capitalization of $110.24 billion, a P/E ratio of 979.89, a price-to-earnings-growth ratio of 2.72 and a beta of 0.17. Gilead Sciences has a 1-year low of $62.07 and a 1-year high of $98.90.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last issued its earnings results on Wednesday, November 6th. The biopharmaceutical company reported $2.02 EPS for the quarter, beating the consensus estimate of $1.58 by $0.44. The company had revenue of $7.55 billion during the quarter, compared to the consensus estimate of $7.01 billion. Gilead Sciences had a return on equity of 29.00% and a net margin of 0.45%. The firm's revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period last year, the business posted $2.29 EPS. Sell-side analysts predict that Gilead Sciences will post 4.38 EPS for the current fiscal year.

Insider Buying and Selling at Gilead Sciences

In other Gilead Sciences 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 transaction of $2,459,529.46. Following the completion of the transaction, the insider now owns 78,127 shares of the company's stock, 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 Securities & Exchange Commission, which is accessible through this link. Also, 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 sale, 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 disclosure for this sale can be found here. Over the last quarter, insiders sold 56,947 shares of company stock valued at $4,968,674. Corporate insiders own 0.16% of the company's stock.

Institutional Investors Weigh In On Gilead Sciences

Institutional investors and hedge funds have recently made changes to their positions in the company. Bessemer Group Inc. grew its position in Gilead Sciences by 23.7% in the 1st quarter. Bessemer Group Inc. now owns 121,072 shares of the biopharmaceutical company's stock worth $8,868,000 after purchasing an additional 23,213 shares during the period. Lake Street Advisors Group LLC boosted its stake in shares of Gilead Sciences by 32.8% during the 1st quarter. Lake Street Advisors Group LLC now owns 18,044 shares of the biopharmaceutical company's stock worth $1,322,000 after acquiring an additional 4,461 shares during the last quarter. Natixis boosted its stake in shares of Gilead Sciences by 40.5% during the 1st quarter. Natixis now owns 152,226 shares of the biopharmaceutical company's stock worth $11,151,000 after acquiring an additional 43,916 shares during the last quarter. MQS Management LLC purchased a new position in shares of Gilead Sciences during the 1st quarter worth $250,000. Finally, Crewe Advisors LLC purchased a new position in shares of Gilead Sciences during the 1st quarter worth $141,000. Institutional investors own 83.67% of the company's stock.

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.