Gilead Sciences (NASDAQ:GILD) was downgraded by Credit Suisse Group from an “outperform” rating to a “neutral” rating in a research note issued on Wednesday, MarketBeat.com reports. They presently have a $80.00 price target on the biopharmaceutical company’s stock, up from their prior price target of $74.35. Credit Suisse Group’s target price would suggest a potential upside of 8.09% from the company’s current price.
GILD has been the topic of several other reports. Berenberg Bank set a $96.00 price objective on shares of Gilead Sciences and gave the stock a “buy” rating in a research report on Thursday, October 19th. Royal Bank of Canada initiated coverage on shares of Gilead Sciences in a research report on Thursday, September 14th. They set an “outperform” rating and a $94.00 price target on the stock. J P Morgan Chase & Co set a $85.00 price target on shares of Gilead Sciences and gave the company a “buy” rating in a research report on Wednesday, October 25th. Robert W. Baird reiterated an “outperform” rating and set a $87.00 price target on shares of Gilead Sciences in a research report on Tuesday, August 29th. Finally, Wells Fargo & Company reiterated a “market perform” rating and set a $81.00 price target (up from $73.00) on shares of Gilead Sciences in a research report on Thursday, August 31st. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $85.03.
Shares of Gilead Sciences (NASDAQ:GILD) traded down $0.34 during trading on Wednesday, hitting $74.01. 7,329,747 shares of the stock were exchanged, compared to its average volume of 9,211,082. Gilead Sciences has a 52-week low of $63.76 and a 52-week high of $86.27. The stock has a market capitalization of $96,250.00, a P/E ratio of 7.84, a price-to-earnings-growth ratio of -1.26 and a beta of 1.13. The company has a debt-to-equity ratio of 1.10, a quick ratio of 3.56 and a current ratio of 3.68.
In other news, insider John C. Martin sold 73,333 shares of Gilead Sciences stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $74.98, for a total value of $5,498,508.34. Following the completion of the transaction, the insider now owns 3,070,099 shares of the company’s stock, valued at approximately $230,196,023.02. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Gregg H. Alton sold 15,000 shares of Gilead Sciences stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $74.82, for a total value of $1,122,300.00. Following the completion of the transaction, the executive vice president now directly owns 77,363 shares of the company’s stock, valued at approximately $5,788,299.66. The disclosure for this sale can be found here. In the last ninety days, insiders sold 494,999 shares of company stock valued at $37,404,139. 1.30% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Capital International Investors grew its stake in shares of Gilead Sciences by 86.6% during the 3rd quarter. Capital International Investors now owns 11,217,015 shares of the biopharmaceutical company’s stock valued at $908,803,000 after purchasing an additional 5,205,983 shares during the period. Sanders Capital LLC purchased a new position in shares of Gilead Sciences during the 3rd quarter valued at about $427,585,000. Skandinaviska Enskilda Banken AB publ lifted its position in shares of Gilead Sciences by 230.0% during the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 4,927,585 shares of the biopharmaceutical company’s stock valued at $399,233,000 after buying an additional 3,434,450 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of Gilead Sciences by 35.0% during the 2nd quarter. Renaissance Technologies LLC now owns 10,407,848 shares of the biopharmaceutical company’s stock valued at $736,667,000 after buying an additional 2,700,600 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its position in shares of Gilead Sciences by 84.7% during the 3rd quarter. Ameriprise Financial Inc. now owns 5,505,708 shares of the biopharmaceutical company’s stock valued at $446,197,000 after buying an additional 2,524,657 shares in the last quarter. Institutional investors own 75.94% of the company’s stock.
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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.
