Cantor Fitzgerald Maintains Neutral Rating on Gilead Sciences (GILD)

Cantor Fitzgerald has confirmed its neutral rating for shares of Gilead Sciences (NASDAQ:GILD) in a report issued on Wednesday. They have set a price target of $80.00 for the biotechnology company's stock.

Other equity research analysts have also recently provided insights regarding Gilead Sciences. For instance, Daiwa America upgraded Gilead to a "hold" rating in their report on November 18. Additionally, Wells Fargo & Company raised their price target on Gilead shares from $100.00 to $105.00 while assigning an "overweight" rating as reported on November 7. Meanwhile, Goldman Sachs increased their target price from $74.00 to $84.00, maintaining a "neutral" rating for the stock.

Citigroup also began coverage on Gilead Sciences with a "buy" rating and a target price of $125.00 in a report dated November 14. Furthermore, Bank of America reiterated their "buy" rating and set a price target of $109.00 on Gilead shares. In total, twelve research analysts have rated the stock as a hold, twelve have given it a buy rating, and four analysts consider it a strong buy. Current consensus data from MarketBeat.com indicates that Gilead Sciences has an average rating of "Moderate Buy" and a price target of $96.43.

Gilead Sciences Stock Performance

On Wednesday, Gilead shares opened at $91.86. The stock is currently trading above its fifty-day moving average of $89.96 and has a two-hundred day moving average of $79.45. The company's financial ratios show a current ratio of 1.26, a quick ratio of 1.10, and a debt-to-equity ratio of 1.24. Gilead Sciences reached a one-year low of $62.07 and a one-year high of $98.90. The company boasts a market capitalization of $114.48 billion and carries a P/E ratio of 1,020.61, with a PEG ratio of 2.38 and a beta of 0.18.

Gilead Sciences reported its earnings for the most recent quarter on November 6, showing earnings per share (EPS) of $2.02, which surpassed analysts' expectations of $1.58 by $0.44. The company posted revenue of $7.55 billion for the quarter, exceeding the consensus estimate of $7.01 billion. Year-over-year, Gilead's revenue grew by 7.0%. Analysts are projecting an EPS of 4.35 for the current fiscal year.

Dividend Announcement

The company has also announced a quarterly dividend, which is scheduled to be paid on December 30. Shareholders on record as of December 13 will receive a dividend of $0.77. The ex-dividend date is also set for December 13. This translates to an annual dividend of $3.08, yielding 3.35%, though the dividend payout ratio is at 3,422.22%.

Insider Transactions

In related news, Chief Financial Officer Andrew D. Dickinson sold 248,645 shares of the company’s stock on November 29, with an average sale price of $92.76, amounting to approximately $23.06 million. Following this transaction, he continues to hold 138,919 shares valued at around $12.89 million, marking a 64.16% decrease in his position. Additionally, Director Jeffrey Bluestone sold 6,788 shares on November 26, realizing a total of approximately $620,355.32 from the transaction. After this sale, Bluestone holds 8,920 shares valued at approximately $815,198.80, reflecting a 43.21% decrease in ownership. A total of 447,234 shares have been sold by insiders in the last three months, valued at about $41.29 million which represents ownership of just 0.16% by corporate insiders.

Institutional Investment Activity

Recently, several large investors have adjusted their stakes in Gilead Sciences. State Street Corp increased its holdings by 1.4% during the third quarter, totaling 60,171,691 shares valued at about $5.05 billion. Similarly, Wellington Management Group boosted its shares by 50.9%, now owning 34,600,676 shares worth approximately $2.90 billion. FMR LLC also grew its stake by 79.4%, bringing their total to 33,162,319 shares valued at around $2.78 billion. Other significant institutional investors include Geode Capital Management, which raised its holdings by 2.1%, and Legal & General, which increased its position by 0.8%. Overall, institutional investors and hedge funds hold approximately 83.67% of Gilead’s stock.

Company Overview

Gilead Sciences, Inc. is a biopharmaceutical company focused on discovering, developing, and marketing medicines to address significant medical needs in the United States, Europe, and other regions worldwide. The company offers a variety of treatments, including Biktarvy, Genvoya, Descovy, Odefsey, Truvada, Complera/Eviplera, Stribild, Sunlenca, and Atripla for HIV/AIDS, along with Veklury for COVID-19 and treatment options such as Epclusa, Harvoni, Vemlidy, and Viread for viral hepatitis.

Gilead, Rating, Investment