Gilead Sciences, Inc. (NASDAQ:GILD) had its target price reduced by analysts at Bank of America Corporation from $87.00 to $86.00 in a note issued to investors on Wednesday. The firm currently has a “neutral” rating on the biopharmaceutical company’s stock. Bank of America Corporation’s target price indicates a potential upside of 3.38% from the stock’s current price.

Several other research firms have also weighed in on GILD. ValuEngine raised Gilead Sciences from a “buy” rating to a “strong-buy” rating in a research note on Thursday, September 7th. Zacks Investment Research downgraded Gilead Sciences from a “buy” rating to a “hold” rating in a report on Monday, September 11th. TheStreet raised Gilead Sciences from a “c+” rating to a “b-” rating in a report on Thursday, September 7th. Vetr lowered Gilead Sciences from a “buy” rating to a “hold” rating and set a $86.44 price target for the company. in a research report on Monday, September 4th. Finally, Jefferies Group LLC started coverage on Gilead Sciences in a research note on Wednesday. They issued a “hold” rating and a $93.00 price target on the stock. Eleven research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $85.36.

Gilead Sciences (NASDAQ:GILD) traded down 0.93% during midday trading on Wednesday, reaching $82.42. The company had a trading volume of 3,953,975 shares. The company has a market capitalization of $107.63 billion, a P/E ratio of 8.95 and a beta of 1.14. The company’s 50 day moving average is $80.13 and its 200-day moving average is $71.40. Gilead Sciences has a 52-week low of $63.76 and a 52-week high of $86.27.

Gilead Sciences (NASDAQ:GILD) last released its earnings results on Wednesday, July 26th. The biopharmaceutical company reported $2.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.11 by $0.45. Gilead Sciences had a return on equity of 66.07% and a net margin of 42.90%. The firm had revenue of $7.14 billion for the quarter, compared to analyst estimates of $6.35 billion. During the same period in the previous year, the company earned $3.08 earnings per share. Gilead Sciences’s revenue was down 8.2% compared to the same quarter last year. Equities analysts expect that Gilead Sciences will post $8.78 earnings per share for the current fiscal year.

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In other news, EVP Gregg H. Alton sold 25,000 shares of the business’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $83.05, for a total transaction of $2,076,250.00. Following the completion of the transaction, the executive vice president now directly owns 101,488 shares in the company, valued at approximately $8,428,578.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Robin L. Washington sold 51,820 shares of the company’s stock in a transaction dated Thursday, September 7th. The shares were sold at an average price of $85.00, for a total value of $4,404,700.00. Following the completion of the sale, the chief financial officer now directly owns 43,352 shares of the company’s stock, valued at $3,684,920. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 388,486 shares of company stock worth $31,178,297. Corporate insiders own 1.30% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Waldron LP raised its stake in Gilead Sciences by 20.4% during the 1st quarter. Waldron LP now owns 10,360 shares of the biopharmaceutical company’s stock worth $711,000 after buying an additional 1,752 shares during the period. NBT Bank N A NY increased its holdings in shares of Gilead Sciences by 203.8% in the first quarter. NBT Bank N A NY now owns 41,272 shares of the biopharmaceutical company’s stock worth $2,804,000 after acquiring an additional 27,685 shares in the last quarter. Mycio Wealth Partners LLC increased its holdings in shares of Gilead Sciences by 13.0% in the first quarter. Mycio Wealth Partners LLC now owns 10,146 shares of the biopharmaceutical company’s stock worth $689,000 after acquiring an additional 1,165 shares in the last quarter. Cubic Asset Management LLC increased its holdings in shares of Gilead Sciences by 1.9% in the first quarter. Cubic Asset Management LLC now owns 29,701 shares of the biopharmaceutical company’s stock worth $2,017,000 after acquiring an additional 560 shares in the last quarter. Finally, Dubuque Bank & Trust Co. increased its holdings in shares of Gilead Sciences by 19.4% in the first quarter. Dubuque Bank & Trust Co. now owns 1,642 shares of the biopharmaceutical company’s stock worth $112,000 after acquiring an additional 267 shares in the last quarter. Hedge funds and other institutional investors own 73.99% of the company’s stock.

About Gilead Sciences

Gilead Sciences, Inc is a research-based biopharmaceutical company that discovers, develops and commercializes medicines in areas of unmet medical need. The Company’s portfolio of products and pipeline of investigational drugs includes treatments for Human Immunodeficiency Virus/Acquired Immune Deficiency Syndrome (HIV/AIDS), liver diseases, cancer, inflammatory and respiratory diseases and cardiovascular conditions.

Analyst Recommendations for Gilead Sciences (NASDAQ:GILD)

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