TD Cowen Lowers Gilead Sciences (NASDAQ:GILD) Price Target to $85.00

Gilead Sciences (NASDAQ:GILD) had its price objective dropped by research analysts at TD Cowen from $90.00 to $85.00 in a research report issued on Friday, Benzinga reports. The firm presently has a “buy” rating on the biopharmaceutical company’s stock. TD Cowen’s target price would suggest a potential upside of 29.93% from the company’s current price.

GILD has been the subject of a number of other research reports. Needham & Company LLC reiterated a “hold” rating on shares of Gilead Sciences in a report on Friday. Oppenheimer reiterated an “outperform” rating and issued a $105.00 price objective on shares of Gilead Sciences in a report on Friday, April 19th. StockNews.com downgraded shares of Gilead Sciences from a “strong-buy” rating to a “buy” rating in a report on Friday, April 19th. Mizuho cut their price target on shares of Gilead Sciences from $101.00 to $90.00 and set a “buy” rating for the company in a report on Thursday, February 22nd. Finally, Royal Bank of Canada cut their price target on shares of Gilead Sciences from $76.00 to $74.00 and set a “sector perform” rating for the company in a report on Friday. Eleven analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Gilead Sciences currently has a consensus rating of “Hold” and a consensus target price of $83.87.

Gilead Sciences Trading Up 0.2 %

Shares of Gilead Sciences stock opened at $65.42 on Friday. The firm has a market capitalization of $81.45 billion, a PE ratio of 181.72, a P/E/G ratio of 1.17 and a beta of 0.19. Gilead Sciences has a twelve month low of $64.63 and a twelve month high of $87.86. The firm’s 50-day moving average price is $71.28 and its 200 day moving average price is $76.25. 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 (NASDAQ:GILD) last issued its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($1.32) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.49) by $0.17. The firm had revenue of $6.69 billion for the quarter, compared to analyst estimates of $6.36 billion. Gilead Sciences had a net margin of 1.76% and a return on equity of 23.08%. Gilead Sciences’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same period last year, the company posted $1.37 EPS. On average, sell-side analysts predict that Gilead Sciences will post 4.2 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Merdad Parsey sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $73.18, for a total transaction of $146,360.00. Following the sale, the insider now directly owns 100,936 shares of the company’s stock, valued at approximately $7,386,496.48. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.16% of the stock is owned by insiders.

Institutional Investors Weigh In On Gilead Sciences

Large investors have recently modified their holdings of the company. Tompkins Financial Corp increased its position in shares of Gilead Sciences by 223.1% in the 3rd quarter. Tompkins Financial Corp now owns 349 shares of the biopharmaceutical company’s stock valued at $26,000 after purchasing an additional 241 shares during the last quarter. Private Wealth Management Group LLC purchased a new stake in shares of Gilead Sciences in the 4th quarter valued at approximately $29,000. OFI Invest Asset Management purchased a new stake in shares of Gilead Sciences in the 3rd quarter valued at approximately $26,000. Fortitude Family Office LLC purchased a new stake in shares of Gilead Sciences in the 4th quarter valued at approximately $29,000. Finally, Sachetta LLC acquired a new position in shares of Gilead Sciences in the 4th quarter valued at $30,000. 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.