Gilead Sciences (NASDAQ:GILD) Price Target Lowered to $85.00 at Maxim Group

Gilead Sciences (NASDAQ:GILD) had its price target trimmed by Maxim Group from $90.00 to $85.00 in a research report sent to investors on Wednesday, Marketbeat Ratings reports. The firm currently has a buy rating on the biopharmaceutical company’s stock.

Several other equities analysts also recently weighed in on the company. Truist Financial downgraded Gilead Sciences from a buy rating to a hold rating and reduced their target price for the stock from $91.00 to $82.00 in a research report on Thursday, February 22nd. Morgan Stanley decreased their target price on shares of Gilead Sciences from $80.00 to $78.00 and set an equal weight rating on the stock in a research report on Friday, April 26th. Needham & Company LLC reaffirmed a hold rating on shares of Gilead Sciences in a research report on Friday, April 26th. Oppenheimer reaffirmed an outperform rating and set a $105.00 price target on shares of Gilead Sciences in a research note on Friday, April 19th. Finally, Wells Fargo & Company lowered their price objective on shares of Gilead Sciences from $84.00 to $77.00 and set an equal weight rating for the company in a research note on Monday, March 4th. Eleven analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of Hold and a consensus price target of $83.69.

Gilead Sciences Stock Performance

Shares of NASDAQ GILD opened at $65.51 on Wednesday. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.98 and a quick ratio of 0.72. The company has a market cap of $81.57 billion, a PE ratio of 181.97, a price-to-earnings-growth ratio of 1.31 and a beta of 0.22. The company has a 50-day simple moving average of $70.87 and a 200-day simple moving average of $76.01. Gilead Sciences has a 12 month low of $64.63 and a 12 month high of $87.86.

Gilead Sciences (NASDAQ:GILD) last released its earnings results on Thursday, April 25th. The biopharmaceutical company reported ($1.32) EPS for the quarter, topping the consensus estimate of ($1.49) by $0.17. Gilead Sciences had a net margin of 1.76% and a return on equity of 24.34%. The firm had revenue of $6.69 billion during the quarter, compared to analysts’ expectations of $6.36 billion. During the same period in the previous year, the company earned $1.37 EPS. Gilead Sciences’s revenue for the quarter was up 5.3% on a year-over-year basis. On average, equities analysts anticipate that Gilead Sciences will post 3.74 earnings per share for the current year.

Gilead Sciences Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Friday, June 14th will be issued a dividend of $0.77 per share. The ex-dividend date is Friday, June 14th. This represents a $3.08 annualized dividend and a dividend yield of 4.70%. Gilead Sciences’s payout ratio is currently 855.56%.

Insiders Place Their Bets

In other news, insider Merdad Parsey sold 2,000 shares of the company’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $72.96, for a total value of $145,920.00. Following the completion of the transaction, the insider now directly owns 96,304 shares in the company, valued at $7,026,339.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.16% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Brookstone Capital Management raised its position in shares of Gilead Sciences by 10.6% in the 3rd quarter. Brookstone Capital Management now owns 14,547 shares of the biopharmaceutical company’s stock valued at $1,141,000 after purchasing an additional 1,390 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its stake in shares of Gilead Sciences by 46.9% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 202,220 shares of the biopharmaceutical company’s stock worth $15,154,000 after buying an additional 64,569 shares during the last quarter. Mission Wealth Management LP raised its holdings in Gilead Sciences by 3.3% in the third quarter. Mission Wealth Management LP now owns 10,719 shares of the biopharmaceutical company’s stock valued at $803,000 after acquiring an additional 340 shares in the last quarter. Raymond James & Associates boosted its stake in Gilead Sciences by 13.5% during the 3rd quarter. Raymond James & Associates now owns 2,325,094 shares of the biopharmaceutical company’s stock valued at $174,242,000 after acquiring an additional 276,676 shares during the last quarter. Finally, Stratos Wealth Partners LTD. grew its holdings in Gilead Sciences by 7.9% during the 3rd quarter. Stratos Wealth Partners LTD. now owns 107,544 shares of the biopharmaceutical company’s stock worth $8,059,000 after acquiring an additional 7,920 shares in the last quarter. 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.