Gilead Sciences (NASDAQ:GILD) Sets New 52-Week High Following Analyst Upgrade

Gilead Sciences, Inc. (NASDAQ:GILD) shares hit a new 52-week high during mid-day trading on Monday after Leerink Partners raised their price target on the stock from $114.00 to $146.00. Leerink Partners currently has an outperform rating on the stock. Gilead Sciences traded as high as $142.20 and last traded at $141.53, with a volume of 8928 shares trading hands. The stock had previously closed at $141.95.

A number of other brokerages also recently issued reports on GILD. Truist Financial upped their price target on Gilead Sciences from $140.00 to $145.00 and gave the stock a “buy” rating in a research report on Tuesday, January 27th. Cantor Fitzgerald restated an “overweight” rating and set a $135.00 target price on shares of Gilead Sciences in a research note on Friday, October 31st. Wolfe Research upped their target price on Gilead Sciences from $150.00 to $155.00 and gave the company an “outperform” rating in a research report on Wednesday, January 28th. UBS Group raised their price target on Gilead Sciences from $145.00 to $155.00 and gave the stock a “buy” rating in a report on Monday, January 26th. Finally, Wall Street Zen downgraded shares of Gilead Sciences from a “strong-buy” rating to a “buy” rating in a report on Friday, January 23rd. One investment analyst has rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $136.73.

Insider Transactions at Gilead Sciences

In related news, CFO Andrew D. Dickinson sold 3,000 shares of the stock in a transaction that occurred on Thursday, January 15th. The shares were sold at an average price of $124.31, for a total value of $372,930.00. Following the transaction, the chief financial officer owned 150,503 shares in the company, valued at approximately $18,709,027.93. This represents a 1.95% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Daniel Patrick O’day sold 115,640 shares of the firm’s stock in a transaction that occurred on Friday, January 23rd. The stock was sold at an average price of $135.00, for a total transaction of $15,611,400.00. Following the transaction, the chief executive officer directly owned 566,698 shares of the company’s stock, valued at $76,504,230. This represents a 16.95% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 257,397 shares of company stock valued at $33,385,512. 0.27% of the stock is owned by company insiders.

Institutional Investors Weigh In On Gilead Sciences

Hedge funds have recently bought and sold shares of the stock. GoalVest Advisory LLC lifted its stake in shares of Gilead Sciences by 7,566.7% in the 2nd quarter. GoalVest Advisory LLC now owns 230 shares of the biopharmaceutical company’s stock valued at $26,000 after purchasing an additional 227 shares during the period. Corundum Trust Company INC acquired a new stake in Gilead Sciences during the third quarter valued at $26,000. Harbor Asset Planning Inc. purchased a new position in Gilead Sciences in the second quarter valued at $27,000. Ares Financial Consulting LLC acquired a new position in shares of Gilead Sciences in the fourth quarter worth about $28,000. Finally, Financial Consulate Inc. boosted its stake in shares of Gilead Sciences by 85.8% during the 4th quarter. Financial Consulate Inc. now owns 236 shares of the biopharmaceutical company’s stock worth $29,000 after acquiring an additional 109 shares in the last quarter. Hedge funds and other institutional investors own 83.67% of the company’s stock.

Gilead Sciences Stock Performance

The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.31 and a current ratio of 1.45. The firm has a market capitalization of $177.28 billion, a PE ratio of 22.15, a price-to-earnings-growth ratio of 0.74 and a beta of 0.36. The firm’s 50 day moving average price is $125.71 and its 200-day moving average price is $119.97.

Gilead Sciences Company Profile

Gilead Sciences, Inc, founded in 1987 and headquartered in Foster City, California, is a biopharmaceutical company focused on the discovery, development and commercialization of medicines in areas of high unmet medical need. The company initially built its reputation in antiviral therapies and has since expanded into oncology, cell therapy and inflammatory diseases. Gilead operates a global research and commercial organization, conducting clinical development and selling medicines in markets around the world.

Gilead’s product portfolio is anchored by antiviral therapies for HIV and viral hepatitis.