Fintel reports that on September 8, 2023, B of A Securities upgraded their outlook for Gilead Sciences (NASDAQ:GILD) from Neutral to Buy.

Analyst Price Forecast Suggests 22.63% Upside

As of August 30, 2023, the average one-year price target for Gilead Sciences is 93.20. The forecasts range from a low of 80.80 to a high of $121.80. The average price target represents an increase of 22.63% from its latest reported closing price of 76.00.

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The projected annual revenue for Gilead Sciences is 26,046MM, a decrease of 4.88%. The projected annual non-GAAP EPS is 6.89.

What is the Fund Sentiment?

There are 2871 funds or institutions reporting positions in Gilead Sciences. This is a decrease of 76 owner(s) or 2.58% in the last quarter. Average portfolio weight of all funds dedicated to GILD is 0.47%, a decrease of 7.99%. Total shares owned by institutions increased in the last three months by 0.91% to 1,249,945K shares. The put/call ratio of GILD is 0.87, indicating a bullish outlook.

What are Other Shareholders Doing?

Capital World Investors holds 80,929K shares representing 6.50% ownership of the company. In it’s prior filing, the firm reported owning 76,500K shares, representing an increase of 5.47%. The firm decreased its portfolio allocation in GILD by 8.56% over the last quarter.

Capital Research Global Investors holds 57,900K shares representing 4.65% ownership of the company. In it’s prior filing, the firm reported owning 58,278K shares, representing a decrease of 0.65%. The firm decreased its portfolio allocation in GILD by 13.35% over the last quarter.

VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 38,966K shares representing 3.13% ownership of the company. In it’s prior filing, the firm reported owning 38,609K shares, representing an increase of 0.92%. The firm decreased its portfolio allocation in GILD by 13.50% over the last quarter.

Dodge & Cox holds 33,980K shares representing 2.73% ownership of the company. In it’s prior filing, the firm reported owning 34,702K shares, representing a decrease of 2.12%. The firm decreased its portfolio allocation in GILD by 10.93% over the last quarter.

AMECX – INCOME FUND OF AMERICA holds 33,735K shares representing 2.71% ownership of the company. In it’s prior filing, the firm reported owning 32,377K shares, representing an increase of 4.03%. The firm increased its portfolio allocation in GILD by 3.68% over the last quarter.

Gilead Sciences Background Information
(This description is provided by the company.)

Gilead Sciences, Inc. is a biopharmaceutical company that has pursued and achieved breakthroughs in medicine for more than three decades, with the goal of creating a healthier world for all people. The company is committed to advancing innovative medicines to prevent and treat life-threatening diseases, including HIV, viral hepatitis and cancer. Gilead operates in more than 35 countries worldwide, with headquarters in Foster City, California. Gilead has promoted equity, particularly healthcare equity, since the company brought its first therapies to the market. Through global partnerships, Gilead’s medicines today reach millions of people in low- and middle-income countries around the world. In the United States, Gilead has committed more than $100 million over 10 years through the COMPASS Initiative to community organizations that are working to combat HIV in the Southern United States. In 2020, Gilead launched the Racial Equity Community Impact Fund to support organizations tackling racial inequities affecting Black communities across the United States.

This article originally appeared on Fintel

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