Gilead Sciences (NASDAQ:GILD) Receives “Hold” Rating from Needham & Company LLC

Gilead Sciences (NASDAQ:GILD)‘s stock had its “hold” rating reissued by equities researchers at Needham & Company LLC in a research note issued on Friday, Benzinga reports.

A number of other brokerages have also commented on GILD. UBS Group cut their price target on Gilead Sciences from $81.00 to $75.00 and set a “neutral” rating on the stock in a report on Wednesday, April 17th. Mizuho cut their price target on Gilead Sciences from $101.00 to $90.00 and set a “buy” rating on the stock in a report on Thursday, February 22nd. Wells Fargo & Company dropped their target price on Gilead Sciences from $84.00 to $77.00 and set an “equal weight” rating on the stock in a report on Monday, March 4th. Cantor Fitzgerald dropped their target price on Gilead Sciences from $80.00 to $78.00 and set a “neutral” rating on the stock in a report on Wednesday, February 7th. Finally, StockNews.com lowered Gilead Sciences from a “strong-buy” rating to a “buy” rating in a report on Friday, April 19th. Eleven research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $84.57.

Gilead Sciences Stock Performance

GILD stock opened at $65.27 on Friday. The business’s 50-day moving average price is $71.40 and its two-hundred day moving average price is $76.32. The company has a current ratio of 1.43, a quick ratio of 1.27 and a debt-to-equity ratio of 1.08. The firm has a market cap of $81.27 billion, a PE ratio of 14.50, a P/E/G ratio of 1.20 and a beta of 0.19. Gilead Sciences has a 1-year low of $65.09 and a 1-year high of $87.86.

Gilead Sciences (NASDAQ:GILD) last issued its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($1.32) EPS for the quarter, beating analysts’ consensus estimates of ($1.49) by $0.17. The company had revenue of $6.69 billion for the quarter, compared to analyst estimates of $6.36 billion. Gilead Sciences had a return on equity of 38.85% and a net margin of 20.89%. The company’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.37 earnings per share. As a group, research analysts forecast that Gilead Sciences will post 4.2 earnings per share for the current year.

Insider Transactions at Gilead Sciences

In related news, insider Merdad Parsey sold 2,000 shares of the stock in a transaction that occurred on 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 owns 96,304 shares of the company’s stock, valued at $7,026,339.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.16% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Gilead Sciences

Large investors have recently added to or reduced their stakes in the stock. OFI Invest Asset Management acquired a new stake in Gilead Sciences during the third quarter worth approximately $26,000. Tompkins Financial Corp boosted its holdings 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 in the last quarter. Fortitude Family Office LLC acquired a new stake in shares of Gilead Sciences in the 4th quarter valued at $29,000. Private Wealth Management Group LLC acquired a new stake in shares of Gilead Sciences in the 4th quarter valued at $29,000. Finally, Sachetta LLC acquired a new stake in shares of Gilead Sciences in the 4th quarter valued at $30,000. Institutional investors and hedge funds 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.