Gilead Sciences (NASDAQ:GILD) Given New $74.00 Price Target at Royal Bank of Canada

Gilead Sciences (NASDAQ:GILD) had its price target decreased by equities research analysts at Royal Bank of Canada from $76.00 to $74.00 in a report issued on Friday, Benzinga reports. The brokerage currently has a “sector perform” rating on the biopharmaceutical company’s stock. Royal Bank of Canada’s target price indicates a potential upside of 12.50% from the company’s current price.

GILD has been the topic of several other research reports. Barclays dropped their price target on shares of Gilead Sciences from $85.00 to $80.00 and set an “equal weight” rating on the stock in a research report on Monday, February 12th. UBS Group dropped their target price on shares of Gilead Sciences from $81.00 to $75.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 17th. HSBC raised shares of Gilead Sciences from a “reduce” rating to a “hold” rating and set a $69.00 target price on the stock in a research report on Wednesday. Needham & Company LLC reissued a “hold” rating on shares of Gilead Sciences in a research report on Friday. Finally, Truist Financial cut shares of Gilead Sciences from a “buy” rating to a “hold” rating and dropped their target price for the stock from $91.00 to $82.00 in a research report on Thursday, February 22nd. Eleven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Gilead Sciences currently has a consensus rating of “Hold” and an average target price of $84.50.

Gilead Sciences Trading Up 0.8 %

GILD stock traded up $0.51 during mid-day trading on Friday, reaching $65.78. The company’s stock had a trading volume of 5,973,416 shares, compared to its average volume of 7,392,564. The company has a market cap of $81.90 billion, a price-to-earnings ratio of 14.58, a price-to-earnings-growth ratio of 1.20 and a beta of 0.19. The business’s 50 day moving average price is $71.40 and its 200 day moving average price is $76.32. The company has a current ratio of 1.43, a quick ratio of 1.27 and a debt-to-equity ratio of 1.08. Gilead Sciences has a 12 month low of $64.63 and a 12 month high of $87.86.

Gilead Sciences (NASDAQ:GILD) last released its quarterly earnings data on Thursday, April 25th. The biopharmaceutical company reported ($1.32) earnings per share for the quarter, topping the consensus estimate of ($1.49) by $0.17. Gilead Sciences had a net margin of 20.89% and a return on equity of 38.85%. The firm had revenue of $6.69 billion for the quarter, compared to the consensus estimate of $6.36 billion. During the same quarter in the prior year, the company posted $1.37 earnings per share. The business’s revenue was up 5.3% on a year-over-year basis. On average, equities research analysts predict that Gilead Sciences will post 4.2 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 on Monday, April 1st. The shares were sold at an average price of $72.96, for a total transaction of $145,920.00. Following the completion of the transaction, the insider now directly owns 96,304 shares of the company’s stock, valued at $7,026,339.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.16% of the company’s stock.

Institutional Investors Weigh In On Gilead Sciences

Large investors have recently made changes to their positions in the stock. Altfest L J & Co. Inc. purchased a new stake in shares of Gilead Sciences in the 4th quarter valued at approximately $210,000. Federated Hermes Inc. lifted its holdings in shares of Gilead Sciences by 4.9% in the fourth quarter. Federated Hermes Inc. now owns 3,787,355 shares of the biopharmaceutical company’s stock valued at $306,814,000 after purchasing an additional 175,925 shares in the last quarter. Wetzel Investment Advisors Inc. purchased a new position in shares of Gilead Sciences during the fourth quarter valued at approximately $74,000. Abundance Wealth Counselors purchased a new position in Gilead Sciences during the third quarter worth approximately $1,881,000. Finally, HTLF Bank acquired a new stake in shares of Gilead Sciences in the fourth quarter worth $253,000. 83.67% of the stock is owned by hedge funds and other 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.