Gilead Sciences (NASDAQ:GILD) PT Lowered to $70.00

Gilead Sciences (NASDAQ:GILD) had its price objective lowered by investment analysts at Cantor Fitzgerald from $75.00 to $70.00 in a research note issued on Monday, Benzinga reports. The firm presently has a “neutral” rating on the biopharmaceutical company’s stock. Cantor Fitzgerald’s price target suggests a potential downside of 1.64% from the stock’s previous close.

GILD has been the topic of several other reports. Royal Bank of Canada reiterated a “sector perform” rating and issued a $74.00 target price on shares of Gilead Sciences in a research note on Monday, July 1st. HSBC raised Gilead Sciences from a “reduce” rating to a “hold” rating and set a $69.00 price objective for the company in a research note on Wednesday, April 24th. StockNews.com upgraded Gilead Sciences from a “buy” rating to a “strong-buy” rating in a research note on Saturday, April 27th. UBS Group dropped their price target on Gilead Sciences from $81.00 to $75.00 and set a “neutral” rating for the company in a research report on Wednesday, April 17th. Finally, Maxim Group lowered their target price on shares of Gilead Sciences from $90.00 to $85.00 and set a “buy” rating on the stock in a research note on Wednesday, May 1st. Twelve research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Gilead Sciences has a consensus rating of “Hold” and an average price target of $82.88.

Gilead Sciences Price Performance

Gilead Sciences stock opened at $71.17 on Monday. The firm has a market capitalization of $88.67 billion, a P/E ratio of 197.69, a PEG ratio of 3.11 and a beta of 0.18. Gilead Sciences has a one year low of $62.07 and a one year high of $87.86. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.08 and a quick ratio of 0.94. The business has a fifty day moving average price of $67.30 and a 200-day moving average price of $71.17.

Gilead Sciences (NASDAQ:GILD) last issued its earnings results on Thursday, April 25th. The biopharmaceutical company reported ($1.32) EPS for the quarter, topping the consensus estimate of ($1.49) by $0.17. Gilead Sciences had a return on equity of 24.34% and a net margin of 1.76%. The business had revenue of $6.69 billion during the quarter, compared to the consensus estimate of $6.36 billion. During the same quarter last year, the company earned $1.37 EPS. The firm’s revenue was up 5.3% compared to the same quarter last year. As a group, equities research analysts forecast that Gilead Sciences will post 3.71 EPS for the current year.

Insider Transactions at Gilead Sciences

In related news, insider Merdad Parsey sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $68.63, for a total transaction of $137,260.00. Following the transaction, the insider now directly owns 96,380 shares in the company, valued at approximately $6,614,559.40. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 0.16% of the company’s stock.

Institutional Trading of Gilead Sciences

Several large investors have recently added to or reduced their stakes in GILD. Vanguard Group Inc. lifted its holdings in Gilead Sciences by 2.6% in the first quarter. Vanguard Group Inc. now owns 114,732,575 shares of the biopharmaceutical company’s stock worth $8,404,161,000 after buying an additional 2,910,147 shares during the period. Capital World Investors raised its position in shares of Gilead Sciences by 1.4% in the 1st quarter. Capital World Investors now owns 84,497,404 shares of the biopharmaceutical company’s stock worth $6,189,435,000 after acquiring an additional 1,133,281 shares in the last quarter. Capital Research Global Investors boosted its position in shares of Gilead Sciences by 2.7% during the first quarter. Capital Research Global Investors now owns 61,246,366 shares of the biopharmaceutical company’s stock valued at $4,486,296,000 after purchasing an additional 1,589,240 shares in the last quarter. Wellington Management Group LLP grew its stake in Gilead Sciences by 14.4% in the fourth quarter. Wellington Management Group LLP now owns 18,630,134 shares of the biopharmaceutical company’s stock worth $1,509,227,000 after purchasing an additional 2,350,550 shares during the period. Finally, Norges Bank purchased a new stake in Gilead Sciences in the fourth quarter worth $1,301,624,000. 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.