Gilead Sciences (NASDAQ:GILD) Stock Rating Upgraded by Bank of America

Gilead Sciences (NASDAQ:GILD) was upgraded by research analysts at Bank of America from a “neutral” rating to a “buy” rating in a research report issued on Friday, MarketBeat.com reports. The firm currently has a $95.00 target price on the biopharmaceutical company’s stock, up from their prior target price of $88.00. Bank of America‘s price target would suggest a potential upside of 25.00% from the company’s previous close.

Several other equities research analysts have also recently weighed in on GILD. Morgan Stanley increased their target price on shares of Gilead Sciences from $86.00 to $88.00 and gave the company an “equal weight” rating in a research note on Friday, August 4th. Royal Bank of Canada increased their price target on shares of Gilead Sciences from $83.00 to $84.00 and gave the stock a “sector perform” rating in a research report on Friday, August 4th. Barclays dropped their price target on shares of Gilead Sciences from $81.00 to $80.00 and set an “equal weight” rating for the company in a research report on Monday, July 24th. StockNews.com started coverage on shares of Gilead Sciences in a research report on Thursday, August 17th. They issued a “strong-buy” rating for the company. Finally, BMO Capital Markets dropped their price target on shares of Gilead Sciences from $100.00 to $95.00 in a research report on Tuesday, July 18th. One analyst has rated the stock with a sell rating, seven have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $90.05.

Gilead Sciences Trading Up 2.8 %

Shares of NASDAQ:GILD opened at $76.00 on Friday. The stock has a market capitalization of $94.70 billion, a PE ratio of 17.47, a P/E/G ratio of 0.83 and a beta of 0.37. Gilead Sciences has a 1 year low of $61.44 and a 1 year high of $89.74. The firm has a fifty day moving average price of $77.22 and a 200 day moving average price of $78.96. The company has a current ratio of 1.02, a quick ratio of 0.91 and a debt-to-equity ratio of 1.07.

Gilead Sciences (NASDAQ:GILD) last released its quarterly earnings results on Thursday, August 3rd. The biopharmaceutical company reported $1.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.64 by ($0.30). Gilead Sciences had a net margin of 20.03% and a return on equity of 37.53%. The firm had revenue of $6.60 billion for the quarter, compared to the consensus estimate of $6.45 billion. During the same quarter last year, the company earned $1.58 earnings per share. The firm’s revenue was up 5.4% on a year-over-year basis. Analysts expect that Gilead Sciences will post 6.63 EPS for the current fiscal year.

Insider Buying and Selling

In other Gilead Sciences news, insider Merdad Parsey sold 1,485 shares of the firm’s stock in a transaction that occurred on Tuesday, June 13th. The shares were sold at an average price of $76.90, for a total value of $114,196.50. Following the sale, the insider now owns 29,402 shares in the company, valued at $2,261,013.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Merdad Parsey sold 1,485 shares of the firm’s stock in a transaction on Tuesday, June 13th. The shares were sold at an average price of $76.90, for a total transaction of $114,196.50. Following the completion of the transaction, the insider now owns 29,402 shares of the company’s stock, valued at $2,261,013.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Andrew D. Dickinson sold 5,000 shares of the firm’s stock in a transaction on Thursday, July 20th. The shares were sold at an average price of $80.00, for a total transaction of $400,000.00. Following the transaction, the chief financial officer now directly owns 107,587 shares of the company’s stock, valued at approximately $8,606,960. The disclosure for this sale can be found here. 0.16% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Gilead Sciences

Hedge funds have recently bought and sold shares of the company. PCA Investment Advisory Services Inc. bought a new position in Gilead Sciences during the second quarter worth $25,000. ST Germain D J Co. Inc. grew its holdings in Gilead Sciences by 15.2% in the fourth quarter. ST Germain D J Co. Inc. now owns 4,246 shares of the biopharmaceutical company’s stock worth $29,000 after purchasing an additional 560 shares during the period. Union Savings Bank acquired a new stake in Gilead Sciences in the second quarter worth $29,000. Sanctuary Wealth Management L.L.C. acquired a new stake in Gilead Sciences in the second quarter worth $30,000. Finally, Steward Financial Group LLC acquired a new stake in Gilead Sciences in the second quarter worth $31,000. Institutional investors own 82.33% 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, and Atripla products for the treatment of HIV/AIDS; Veklury, an injection for intravenous use, for the treatment of coronavirus disease 2019; and Epclusa, Harvoni, Vosevi, Vemlidy, and Viread for the treatment of viral hepatitis.