Maxim Group Trims Gilead Sciences (NASDAQ:GILD) Target Price to $85.00

Gilead Sciences (NASDAQ:GILD) had its price target trimmed by Maxim Group from $90.00 to $85.00 in a report issued on Wednesday, Marketbeat.com reports. The firm currently has a buy rating on the biopharmaceutical company’s stock.

Other equities research analysts also recently issued reports about the stock. UBS Group lowered their target price on shares of Gilead Sciences from $81.00 to $75.00 and set a neutral rating for the company in a research note on Wednesday, April 17th. Oppenheimer reiterated an outperform rating and issued a $105.00 target price on shares of Gilead Sciences in a research note on Friday, April 19th. Cantor Fitzgerald dropped their target price on shares of Gilead Sciences from $80.00 to $78.00 and set a neutral rating on the stock in a research report on Wednesday, February 7th. Morgan Stanley decreased their price target on shares of Gilead Sciences from $80.00 to $78.00 and set an equal weight rating for the company in a report on Friday, April 26th. Finally, Mizuho dropped their price objective on shares of Gilead Sciences from $101.00 to $90.00 and set a buy rating on the stock in a report on Thursday, February 22nd. Eleven research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Gilead Sciences has a consensus rating of Hold and an average target price of $83.69.

Gilead Sciences Stock Down 0.8 %

NASDAQ:GILD opened at $64.78 on Wednesday. The company has a market cap of $80.66 billion, a price-to-earnings ratio of 179.94, a price-to-earnings-growth ratio of 1.31 and a beta of 0.22. Gilead Sciences has a twelve month low of $64.33 and a twelve month high of $87.86. The stock has a fifty day simple moving average of $70.72 and a 200-day simple moving average of $75.94. The company has a current ratio of 0.98, a quick ratio of 0.72 and a debt-to-equity ratio of 1.08.

Gilead Sciences (NASDAQ:GILD) last issued its earnings results on Thursday, April 25th. The biopharmaceutical company reported ($1.32) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.49) by $0.17. Gilead Sciences had a net margin of 1.76% and a return on equity of 24.34%. The company had revenue of $6.69 billion for the quarter, compared to analysts’ expectations of $6.36 billion. During the same period in the prior year, the business earned $1.37 EPS. The firm’s quarterly revenue was up 5.3% on a year-over-year basis. Analysts anticipate that Gilead Sciences will post 3.74 EPS for the current year.

Gilead Sciences Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Friday, June 14th will be given a dividend of $0.77 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $3.08 annualized dividend and a yield of 4.75%. Gilead Sciences’s dividend payout ratio is presently 855.56%.

Insiders Place Their Bets

In other news, insider Merdad Parsey sold 2,000 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $72.96, for a total transaction of $145,920.00. Following the sale, the insider now directly owns 96,304 shares in the company, valued at approximately $7,026,339.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.16% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in GILD. Nilsine Partners LLC lifted its holdings in Gilead Sciences by 1.1% during the third quarter. Nilsine Partners LLC now owns 11,894 shares of the biopharmaceutical company’s stock valued at $891,000 after purchasing an additional 127 shares in the last quarter. Etesian Wealth Advisors Inc. increased its stake in Gilead Sciences by 0.7% during the 4th quarter. Etesian Wealth Advisors Inc. now owns 18,318 shares of the biopharmaceutical company’s stock worth $1,486,000 after buying an additional 128 shares in the last quarter. Financial Counselors Inc. raised its holdings in shares of Gilead Sciences by 1.5% during the fourth quarter. Financial Counselors Inc. now owns 8,862 shares of the biopharmaceutical company’s stock valued at $718,000 after acquiring an additional 128 shares during the last quarter. Revolve Wealth Partners LLC lifted its position in shares of Gilead Sciences by 3.7% in the fourth quarter. Revolve Wealth Partners LLC now owns 3,607 shares of the biopharmaceutical company’s stock valued at $292,000 after acquiring an additional 130 shares in the last quarter. Finally, Institutional & Family Asset Management LLC boosted its stake in shares of Gilead Sciences by 10.3% in the third quarter. Institutional & Family Asset Management LLC now owns 1,501 shares of the biopharmaceutical company’s stock worth $112,000 after acquiring an additional 140 shares during the last quarter. Hedge funds and other 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.