Gilead Sciences (NASDAQ:GILD) Hits New 52-Week High – Here’s What Happened

Shares of Gilead Sciences, Inc. (NASDAQ:GILD) hit a new 52-week high on Thursday. The stock traded as high as $160.51 and last traded at $159.0570, with a volume of 847,634 shares changing hands. The stock had previously closed at $153.54.

Gilead Sciences News Roundup

Here are the key news stories impacting Gilead Sciences this week:

• Positive Sentiment: New solid-tumor cancer partnership: Gilead and Vir Biotechnology agreed to discover and develop three PRO-XTEN® dual-masked T-cell engagers targeting solid-t tumor-associated antigens. Gilead received exclusive rights to develop and commercialize the candidates, giving it access to Vir’s immunology, antibody-engineering and masking technology. The deal strengthens Gilead’s oncology pipeline and may diversify growth beyond its established HIV and hepatitis franchises. Vir Biotechnology and Gilead collaborate on novel cancer therapeutics
• Positive Sentiment: Constructive analyst sentiment: Recent coverage identifies Gilead among healthcare stocks viewed favorably by analysts. This supports investor confidence in the company’s earnings outlook, pipeline and shareholder-return profile, though other analyst commentary indicates that sentiment is not unanimous. Analysts Are Bullish on These Healthcare Stocks
• Neutral Sentiment: Strong technical performance: Gilead cleared a prior February peak and remains close to its 12-month high. The move can attract momentum investors, but the stock’s elevated position also increases the risk of profit-taking. Gilead Sciences Clears Its February High
• Neutral Sentiment: Investor attention is rising: Gilead has become a heavily watched stock on Zacks, but the article primarily highlights investor interest rather than a new earnings or guidance catalyst. Gilead Sciences Is Attracting Investor Attention

Wall Street Analyst Weigh In

A number of brokerages have commented on GILD. Weiss Ratings raised Gilead Sciences from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, September 14th. Needham & Company LLC reiterated a “buy” rating and issued a $170.00 price objective on shares of Gilead Sciences in a research report on Wednesday, August 5th. Royal Bank Of Canada increased their price objective on Gilead Sciences from $123.00 to $126.00 and gave the company a “sector perform” rating in a research note on Thursday, October 8th. HSBC increased their price objective on Gilead Sciences from $155.00 to $175.00 and gave the company a “buy” rating in a research note on Thursday, September 10th. Finally, Zacks Research cut shares of Gilead Sciences from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 29th. Twenty-three research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $159.33.

Gilead Sciences Trading Up 2.7%

The company has a quick ratio of 1.09, a current ratio of 1.27 and a debt-to-equity ratio of 2.03. The firm’s fifty day moving average is $146.20 and its two-hundred day moving average is $136.99. The firm has a market cap of $195.57 billion, a P/E ratio of -59.21 and a beta of 0.31.

Gilead Sciences (NASDAQ:GILD) last issued its quarterly earnings data on Monday, August 3rd. The biopharmaceutical company reported ($6.75) EPS for the quarter, topping the consensus estimate of ($7.25) by $0.50. Gilead Sciences had a negative net margin of 10.64% and a negative return on equity of 2.11%. The business had revenue of $7.80 billion during the quarter, compared to analyst estimates of $7.40 billion. During the same period in the prior year, the business earned $2.01 EPS. The company’s revenue for the quarter was up 10.6% on a year-over-year basis. Analysts predict that Gilead Sciences, Inc. will post -0.47 earnings per share for the current fiscal year.

Gilead Sciences Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 15th were issued a $0.82 dividend. The ex-dividend date was Tuesday, September 15th. This represents a $3.28 annualized dividend and a yield of 2.1%. Gilead Sciences’s dividend payout ratio (DPR) is -122.85%.

Insider Buying and Selling at Gilead Sciences

In other Gilead Sciences news, CFO Andrew Dickinson sold 3,000 shares of Gilead Sciences stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $145.29, for a total transaction of $435,870.00. Following the sale, the chief financial officer directly owned 164,096 shares of the company’s stock, valued at approximately $23,841,507.84. The trade was a 1.80% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Johanna Mercier sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $144.22, for a total value of $432,660.00. Following the transaction, the insider owned 116,684 shares in the company, valued at $16,828,166.48. This trade represents a 2.51% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 105,000 shares of company stock worth $14,940,540. Insiders own 0.30% of the company’s stock.

Hedge Funds Weigh In On Gilead Sciences

Institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in shares of Gilead Sciences during the second quarter worth $15,393,785,000. Legal & General Group Plc acquired a new stake in Gilead Sciences in the second quarter valued at $1,316,606,000. Deutsche Bank AG acquired a new stake in Gilead Sciences in the second quarter valued at $918,387,000. Jupiter Topco LLC purchased a new position in shares of Gilead Sciences in the 2nd quarter valued at about $448,021,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of Gilead Sciences during the 2nd quarter worth about $398,905,000. Institutional investors own 83.67% of the company’s stock.

About Gilead Sciences

Gilead Sciences, Inc (NASDAQ: GILD) is a biopharmaceutical company that discovers, develops and commercializes medicines for serious and life-threatening diseases. Its research and commercial activities focus primarily on virology, including HIV, hepatitis B and hepatitis C, as well as oncology, inflammation and other areas of significant unmet medical need.

Gilead’s portfolio includes HIV treatments such as Biktarvy, Descovy, Genvoya and Sunlenca; hepatitis therapies including Epclusa, Harvoni and Vemlidy; and Veklury (remdesivir), an antiviral used to treat COVID-19 in certain patients.