Cantor Fitzgerald Reiterates “Neutral” Rating for Gilead Sciences (NASDAQ:GILD)

Gilead Sciences (NASDAQ:GILD)‘s stock had its “neutral” rating reiterated by equities research analysts at Cantor Fitzgerald in a research note issued to investors on Monday, Benzinga reports. They presently have a $70.00 target price on the biopharmaceutical company’s stock. Cantor Fitzgerald’s price target points to a potential downside of 14.05% from the company’s current price.

A number of other equities research analysts have also issued reports on the stock. Raymond James raised shares of Gilead Sciences from a “market perform” rating to an “outperform” rating and set a $93.00 price objective for the company in a report on Monday, July 8th. Royal Bank of Canada upped their price objective on shares of Gilead Sciences from $72.00 to $74.00 and gave the company a “sector perform” rating in a report on Wednesday, September 4th. Truist Financial upped their price objective on shares of Gilead Sciences from $82.00 to $83.00 and gave the company a “hold” rating in a report on Thursday, August 15th. Robert W. Baird reissued a “neutral” rating and issued a $80.00 price objective on shares of Gilead Sciences in a report on Thursday, June 20th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Gilead Sciences in a research report on Thursday, August 15th. Twelve analysts have rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $81.25.

Gilead Sciences Price Performance

Gilead Sciences stock opened at $81.44 on Monday. Gilead Sciences has a 52-week low of $62.07 and a 52-week high of $87.86. The firm has a market capitalization of $101.39 billion, a price-to-earnings ratio of 226.22, a PEG ratio of 2.73 and a beta of 0.18. The company has a fifty day simple moving average of $74.53 and a 200-day simple moving average of $70.65. The company has a quick ratio of 0.95, a current ratio of 1.14 and a debt-to-equity ratio of 1.18.

Gilead Sciences (NASDAQ:GILD) last released its earnings results on Thursday, August 8th. The biopharmaceutical company reported $2.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.61 by $0.40. Gilead Sciences had a net margin of 3.79% and a return on equity of 29.34%. The business had revenue of $6.95 billion during the quarter, compared to analyst estimates of $6.64 billion. On average, equities analysts anticipate that Gilead Sciences will post 3.78 EPS for the current fiscal year.

Insider Transactions at Gilead Sciences

In other news, insider Merdad Parsey sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $68.63, for a total transaction of $137,260.00. Following the transaction, the insider now directly owns 96,380 shares in the company, valued at $6,614,559.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, insider Merdad Parsey sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $68.63, for a total transaction of $137,260.00. Following the transaction, the insider now directly owns 96,380 shares in the company, valued at $6,614,559.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Johanna Mercier sold 5,490 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $73.98, for a total transaction of $406,150.20. Following the transaction, the insider now owns 114,979 shares in the company, valued at $8,506,146.42. The disclosure for this sale can be found here. Insiders own 0.16% of the company’s stock.

Hedge Funds Weigh In On Gilead Sciences

Hedge funds and other institutional investors have recently bought and sold shares of the company. Private Wealth Management Group LLC purchased a new position in Gilead Sciences in the 4th quarter valued at $29,000. CarsonAllaria Wealth Management Ltd. lifted its holdings in Gilead Sciences by 198.3% in the second quarter. CarsonAllaria Wealth Management Ltd. now owns 358 shares of the biopharmaceutical company’s stock valued at $25,000 after acquiring an additional 238 shares during the period. Sachetta LLC acquired a new stake in Gilead Sciences in the fourth quarter valued at $30,000. Palisade Asset Management LLC acquired a new stake in Gilead Sciences in the first quarter valued at $29,000. Finally, Frank Rimerman Advisors LLC acquired a new stake in Gilead Sciences in the fourth quarter valued at $36,000. 83.67% of the stock is currently owned by hedge funds and other institutional investors.

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.