Gilead Sciences (NASDAQ:GILD) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Gilead Sciences (NASDAQ:GILD) from a hold rating to a buy rating in a report published on Saturday,Wall Street Zen reports.

A number of other equities analysts have also recently issued reports on the company. Needham & Company LLC restated a “buy” rating and set a $170.00 price objective on shares of Gilead Sciences in a report on Wednesday, August 5th. Morgan Stanley reduced their target price on Gilead Sciences from $166.00 to $165.00 and set an “overweight” rating on the stock in a research note on Monday, July 27th. Royal Bank Of Canada lifted their target price on Gilead Sciences from $120.00 to $123.00 and gave the stock a “sector perform” rating in a research report on Wednesday, August 5th. Zacks Research upgraded shares of Gilead Sciences from a “hold” rating to a “strong-buy” rating in a report on Monday, August 31st. Finally, HSBC upped their price target on shares of Gilead Sciences from $155.00 to $175.00 and gave the stock a “buy” rating in a report on Thursday, September 10th. One analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Gilead Sciences currently has an average rating of “Moderate Buy” and a consensus target price of $158.78.

Gilead Sciences Stock Performance

Gilead Sciences stock opened at $150.56 on Friday. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.27 and a quick ratio of 1.09. The firm has a market capitalization of $186.69 billion, a P/E ratio of -56.39 and a beta of 0.33. Gilead Sciences has a 1-year low of $108.46 and a 1-year high of $157.29. The company’s 50-day moving average is $140.37 and its 200 day moving average is $136.24.

Gilead Sciences (NASDAQ:GILD) last announced its earnings results on Monday, August 3rd. The biopharmaceutical company reported ($6.75) earnings per share (EPS) for the quarter, beating the consensus estimate of ($7.25) by $0.50. The business had revenue of $7.80 billion during the quarter, compared to analyst estimates of $7.40 billion. Gilead Sciences had a negative return on equity of 2.11% and a negative net margin of 10.64%.The company’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.01 earnings per share. Research analysts forecast that Gilead Sciences will post -0.48 EPS for the current year.

Gilead Sciences Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 15th will be given a dividend of $0.82 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $3.28 dividend on an annualized basis and a yield of 2.2%. Gilead Sciences’s payout ratio is -122.85%.

Insiders Place Their Bets

In other news, insider Johanna Mercier sold 3,000 shares of the stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $144.22, for a total transaction of $432,660.00. Following the transaction, the insider owned 116,684 shares of the company’s stock, valued at approximately $16,828,166.48. This represents a 2.51% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Jeffrey Bluestone sold 5,000 shares of the firm’s stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $145.02, for a total value of $725,100.00. Following the transaction, the director owned 10,066 shares in the company, valued at approximately $1,459,771.32. This represents a 33.19% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 105,000 shares of company stock worth $14,616,390. 0.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On Gilead Sciences

Hedge funds have recently modified their holdings of the stock. Security National Bank of Sioux City Iowa IA acquired a new stake in Gilead Sciences during the 2nd quarter worth about $63,000. Anchor Investment Management LLC grew its holdings in Gilead Sciences by 843.7% during the second quarter. Anchor Investment Management LLC now owns 2,831 shares of the biopharmaceutical company’s stock worth $358,000 after acquiring an additional 2,531 shares during the period. Bullseye Investment Management LLC purchased a new position in Gilead Sciences during the second quarter valued at approximately $2,085,000. Talon Private Wealth LLC purchased a new position in Gilead Sciences during the second quarter valued at approximately $212,000. Finally, Core Capital Management & Research inc. acquired a new position in Gilead Sciences in the second quarter valued at approximately $40,000. Institutional investors and hedge funds own 83.67% of the company’s stock.

Gilead Sciences Company Profile

Gilead Sciences, Inc is a biopharmaceutical company that discovers, develops and commercializes medicines for serious and life-threatening diseases. The company’s research focuses primarily on virology, oncology, inflammation and related areas, with products serving patients in the United States and international markets.

Gilead is best known for its HIV treatments, including Biktarvy, Genvoya, Descovy and other antiretroviral therapies. Its portfolio also includes medicines for viral hepatitis, such as Epclusa and Vemlidy, and Veklury (remdesivir), an antiviral treatment for COVID-19.