JPMorgan Chase & Co. Raises Gilead Sciences (NASDAQ:GILD) Price Target to $100.00

Gilead Sciences (NASDAQ:GILD) had its price objective boosted by equities researchers at JPMorgan Chase & Co. from $95.00 to $100.00 in a research report issued on Wednesday, Benzinga reports. The brokerage currently has an “overweight” rating on the biopharmaceutical company’s stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 16.09% from the company’s previous close.

Several other equities analysts have also weighed in on the company. Wells Fargo & Company raised Gilead Sciences from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $78.00 to $100.00 in a research note on Monday. BMO Capital Markets increased their price target on shares of Gilead Sciences from $80.00 to $85.00 and gave the company an “outperform” rating in a research report on Friday, August 9th. Cantor Fitzgerald reissued a “neutral” rating and set a $70.00 price objective on shares of Gilead Sciences in a research note on Monday, September 16th. Barclays upped their target price on shares of Gilead Sciences from $76.00 to $84.00 and gave the company an “equal weight” rating in a research note on Monday. Finally, Evercore ISI raised shares of Gilead Sciences to a “strong-buy” rating in a research report on Friday, August 9th. Eleven investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $84.83.

Gilead Sciences Trading Up 1.1 %

GILD stock traded up $0.93 during trading on Wednesday, hitting $86.14. The company had a trading volume of 6,161,247 shares, compared to its average volume of 7,189,568. The stock has a market cap of $107.32 billion, a price-to-earnings ratio of 239.28, a PEG ratio of 2.91 and a beta of 0.18. The company has a quick ratio of 0.95, a current ratio of 1.14 and a debt-to-equity ratio of 1.18. The firm has a 50-day moving average price of $79.34 and a 200-day moving average price of $72.07. Gilead Sciences has a 12 month low of $62.07 and a 12 month high of $87.86.

Gilead Sciences (NASDAQ:GILD) last posted its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported $2.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.61 by $0.40. Gilead Sciences had a return on equity of 29.34% and a net margin of 3.79%. The business had revenue of $6.95 billion for the quarter, compared to analysts’ expectations of $6.64 billion. As a group, analysts predict that Gilead Sciences will post 3.78 earnings per share for the current year.

Insider Activity at Gilead Sciences

In other Gilead Sciences news, insider Johanna Mercier sold 5,490 shares of the business’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 of the company’s stock, valued at $8,506,146.42. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, insider Johanna Mercier sold 5,490 shares of the business’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $73.98, for a total transaction of $406,150.20. Following the transaction, the insider now directly owns 114,979 shares in the company, valued at $8,506,146.42. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Merdad Parsey sold 2,000 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $83.83, for a total transaction of $167,660.00. Following the completion of the sale, the insider now directly owns 100,189 shares in the company, valued at approximately $8,398,843.87. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 36,847 shares of company stock valued at $3,033,340. Insiders own 0.16% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in GILD. CarsonAllaria Wealth Management Ltd. increased its holdings in shares of 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 purchasing an additional 238 shares during the last quarter. Palisade Asset Management LLC acquired a new stake in shares of Gilead Sciences during the 1st quarter worth about $29,000. Cedar Wealth Management LLC boosted its holdings in shares of Gilead Sciences by 51.6% during the 2nd quarter. Cedar Wealth Management LLC now owns 470 shares of the biopharmaceutical company’s stock worth $32,000 after buying an additional 160 shares during the period. Strategic Investment Solutions Inc. IL acquired a new position in Gilead Sciences in the 2nd quarter valued at about $33,000. Finally, Financial Connections Group Inc. bought a new position in Gilead Sciences in the 2nd quarter valued at about $34,000. 83.67% of the stock is owned by institutional investors and hedge funds.

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.