Gilead Sciences Gets Upgraded Outlook Despite Slight Price Forecast Drop
On October 21, 2024, Leerink Partners raised their rating for Gilead Sciences (BIT:1GILD) from Market Perform to Outperform.
Analyst Forecasts Indicate 6.03% Decline Ahead
The average one-year price target for Gilead Sciences is €75.32 per share, as reported on September 25, 2024. Predictions vary, with a low of €62.05 and a high of €112.07. This average price target represents a 6.03% decline from the company’s latest closing price of €80.15 per share.
Shifts in Fund Sentiment
Currently, 2,828 funds or institutions have reported positions in Gilead Sciences. This marks a decrease of 67 owners, or 2.31%, from the previous quarter. On average, funds have dedicated 0.39% of their portfolios to 1GILD, reflecting an increase of 0.82%. Over the past three months, total institutional shares owned rose by 2.08% to 1,261,466K shares.
Capital World Investors now holds 76,250K shares, which represents 6.12% ownership of Gilead. Previously, they reported 84,497K shares, indicating a decrease of 10.82%, and a 16.72% reduction in their portfolio allocation to 1GILD over the last quarter.
Capital Research Global Investors owns 60,428K shares, translating to 4.85% ownership. This is a slight reduction from the 61,246K shares they held before, a decrease of 1.35%, while their portfolio allocation dropped by 10.38% in the last quarter.
The Vanguard Total Stock Market Index Fund (VTSMX) holds 39,368K shares, representing 3.16% ownership. This shows a modest increase from 39,174K shares, with an 8.46% reduction in their portfolio allocation.
Dodge & Cox has 33,122K shares, or 2.66% ownership, a small decline from 33,167K shares, down 0.14%. Their portfolio allocation also fell by 3.23%.
The Vanguard 500 Index Fund (VFINX) now holds 31,976K shares, equating to 2.57% ownership. This is an increase from 31,400K shares, reflecting a rise of 1.80%, though their portfolio allocation decreased by 9.71% in the last quarter.
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