Gilead Sciences (NASDAQ:GILD) Coverage Initiated at Scotiabank

Investment analysts at Scotiabank assumed coverage on shares of Gilead Sciences (NASDAQ:GILD) in a report released on Thursday, MarketBeat reports. The brokerage set a “sector outperform” rating and a $140.00 price target on the biopharmaceutical company’s stock. Scotiabank’s target price indicates a potential upside of 11.98% from the stock’s previous close.

A number of other brokerages have also recently weighed in on GILD. Citigroup increased their price target on shares of Gilead Sciences from $125.00 to $135.00 and gave the stock a “buy” rating in a research note on Wednesday, October 8th. The Goldman Sachs Group increased their target price on shares of Gilead Sciences from $108.00 to $110.00 and gave the stock a “neutral” rating in a research note on Friday, October 31st. Wolfe Research raised their price target on Gilead Sciences from $135.00 to $140.00 and gave the stock an “outperform” rating in a report on Thursday, October 23rd. BMO Capital Markets boosted their price target on Gilead Sciences from $130.00 to $135.00 and gave the company an “outperform” rating in a research report on Monday, October 20th. Finally, Daiwa Capital Markets raised Gilead Sciences from a “neutral” rating to an “outperform” rating and set a $128.00 price objective for the company in a research report on Tuesday, August 19th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, Gilead Sciences presently has an average rating of “Moderate Buy” and an average target price of $129.13.

Gilead Sciences Stock Performance

Shares of GILD opened at $125.02 on Thursday. The company has a market capitalization of $155.11 billion, a price-to-earnings ratio of 24.90, a price-to-earnings-growth ratio of 0.81 and a beta of 0.32. Gilead Sciences has a 52-week low of $86.08 and a 52-week high of $127.68. The company has a quick ratio of 1.15, a current ratio of 1.32 and a debt-to-equity ratio of 1.13. The stock has a 50 day moving average price of $117.44 and a 200 day moving average price of $112.77.

Gilead Sciences (NASDAQ:GILD) last posted its earnings results on Thursday, October 30th. The biopharmaceutical company reported $2.47 EPS for the quarter, topping analysts’ consensus estimates of $2.16 by $0.31. The business had revenue of $7.77 billion for the quarter, compared to analysts’ expectations of $7.42 billion. Gilead Sciences had a return on equity of 50.99% and a net margin of 21.86%.The business’s revenue was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.02 earnings per share. Gilead Sciences has set its FY 2025 guidance at 8.050-8.250 EPS. Research analysts predict that Gilead Sciences will post 7.95 EPS for the current fiscal year.

Insider Buying and Selling at Gilead Sciences

In other news, CEO Daniel Patrick O’day sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 28th. The shares were sold at an average price of $119.39, for a total transaction of $1,193,900.00. Following the completion of the transaction, the chief executive officer directly owned 581,203 shares of the company’s stock, valued at $69,389,826.17. This trade represents a 1.69% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Andrew D. Dickinson sold 2,500 shares of Gilead Sciences stock in a transaction that occurred on Wednesday, October 15th. The stock was sold at an average price of $118.08, for a total value of $295,200.00. Following the transaction, the chief financial officer owned 157,055 shares of the company’s stock, valued at $18,545,054.40. This represents a 1.57% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 94,646 shares of company stock valued at $11,311,286. Insiders own 0.27% of the company’s stock.

Hedge Funds Weigh In On Gilead Sciences

A number of institutional investors have recently made changes to their positions in GILD. GoalVest Advisory LLC increased its position in Gilead Sciences by 7,566.7% during the 2nd quarter. GoalVest Advisory LLC now owns 230 shares of the biopharmaceutical company’s stock worth $26,000 after purchasing an additional 227 shares in the last quarter. Corundum Trust Company INC acquired a new stake in shares of Gilead Sciences during the 3rd quarter worth about $26,000. Activest Wealth Management grew its holdings in shares of Gilead Sciences by 2,837.5% during the first quarter. Activest Wealth Management now owns 235 shares of the biopharmaceutical company’s stock worth $26,000 after buying an additional 227 shares in the last quarter. Harbor Asset Planning Inc. acquired a new position in shares of Gilead Sciences in the second quarter valued at approximately $27,000. Finally, Howard Hughes Medical Institute acquired a new position in shares of Gilead Sciences in the second quarter valued at approximately $30,000. 83.67% of the stock is owned by institutional investors and hedge funds.

About Gilead Sciences

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.