Gilead Sciences (NASDAQ:GILD) Upgraded at Royal Bank of Canada

Royal Bank of Canada upgraded shares of Gilead Sciences (NASDAQ:GILD) from an outperform rating to a top pick rating in a research report report published on Monday morning, 24/7 WallStreet reports. The firm currently has $91.00 price objective on the biopharmaceutical company’s stock.

A number of other brokerages have also issued reports on GILD. Morgan Stanley set a $82.00 price objective on shares of Gilead Sciences and gave the company a hold rating in a report on Monday, July 15th. Goldman Sachs Group lowered shares of Gilead Sciences from a neutral rating to a sell rating and dropped their price objective for the company from $70.00 to $60.00 in a report on Tuesday, May 28th. Cowen reissued a buy rating on shares of Gilead Sciences in a report on Friday, May 3rd. BMO Capital Markets set a $76.00 price objective on shares of Gilead Sciences and gave the company a buy rating in a report on Monday, July 15th. Finally, Credit Suisse Group initiated coverage on shares of Gilead Sciences in a report on Monday, May 20th. They issued a neutral rating and a $70.00 price objective for the company. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the stock. The company presently has an average rating of Buy and an average price target of $81.47.

Shares of NASDAQ GILD opened at $65.52 on Monday. The firm has a 50-day simple moving average of $67.28. The firm has a market capitalization of $85.32 billion, a PE ratio of 10.65, a price-to-earnings-growth ratio of 4.05 and a beta of 1.12. The company has a debt-to-equity ratio of 1.09, a current ratio of 3.62 and a quick ratio of 3.53. Gilead Sciences has a 52 week low of $60.32 and a 52 week high of $79.61.

Gilead Sciences (NASDAQ:GILD) last announced its quarterly earnings data on Tuesday, July 30th. The biopharmaceutical company reported $1.82 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.68 by $0.14. Gilead Sciences had a net margin of 26.40% and a return on equity of 37.98%. The firm had revenue of $5.69 billion during the quarter, compared to analyst estimates of $5.54 billion. During the same quarter in the prior year, the firm posted $1.91 earnings per share. Gilead Sciences’s quarterly revenue was down 2.8% on a year-over-year basis. Equities research analysts expect that Gilead Sciences will post 6.62 earnings per share for the current fiscal year.

In other Gilead Sciences news, EVP Brett A. Pletcher sold 7,200 shares of the stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $65.07, for a total transaction of $468,504.00. Following the completion of the transaction, the executive vice president now owns 34,398 shares of the company’s stock, valued at $2,238,277.86. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Brett A. Pletcher sold 5,816 shares of the stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $68.75, for a total transaction of $399,850.00. Following the transaction, the executive vice president now directly owns 27,198 shares of the company’s stock, valued at approximately $1,869,862.50. The disclosure for this sale can be found here. Company insiders own 0.20% of the company’s stock.

A number of hedge funds have recently made changes to their positions in GILD. Cooper Financial Group boosted its stake in shares of Gilead Sciences by 4.3% in the second quarter. Cooper Financial Group now owns 3,604 shares of the biopharmaceutical company’s stock valued at $243,000 after purchasing an additional 149 shares during the period. Lenox Wealth Management Inc. boosted its stake in shares of Gilead Sciences by 1.8% in the first quarter. Lenox Wealth Management Inc. now owns 9,059 shares of the biopharmaceutical company’s stock valued at $589,000 after purchasing an additional 156 shares during the period. Alpha Cubed Investments LLC boosted its stake in shares of Gilead Sciences by 0.6% in the second quarter. Alpha Cubed Investments LLC now owns 25,592 shares of the biopharmaceutical company’s stock valued at $1,729,000 after purchasing an additional 156 shares during the period. Creative Financial Designs Inc. ADV boosted its stake in shares of Gilead Sciences by 55.9% in the first quarter. Creative Financial Designs Inc. ADV now owns 460 shares of the biopharmaceutical company’s stock valued at $30,000 after purchasing an additional 165 shares during the period. Finally, Blume Capital Management Inc. raised its holdings in Gilead Sciences by 4.8% in the second quarter. Blume Capital Management Inc. now owns 3,615 shares of the biopharmaceutical company’s stock valued at $244,000 after acquiring an additional 165 shares in the last quarter. 78.85% of the stock is owned by institutional investors.

Gilead Sciences Company Profile

Gilead Sciences, Inc, a research-based biopharmaceutical company, discovers, develops, and commercializes medicines in the areas of unmet medical needs in the United States, Europe, and internationally. The company's products include Biktarvy, Descovy, Odefsey, Genvoya, Stribild, Complera/Eviplera, Atripla, and Truvada for the treatment of human immunodeficiency virus (HIV) infection in adults; and Vosevi, Vemlidy, Epclusa, Harvoni, and Viread products for treating liver diseases.

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Analyst Recommendations for Gilead Sciences (NASDAQ:GILD)

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