Gilead Sciences hits 20-day low amid market strength
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Apr 28 2017
0mins
Should l Buy GILD?
Source: SeekingAlpha
Gilead Sciences Inc's stock price fell by 3.48%, hitting a 20-day low during regular trading hours. This decline occurred despite the Nasdaq-100 rising by 1.05% and the S&P 500 gaining 0.67%, indicating a disconnect between Gilead's performance and the broader market trends.
The drop in Gilead's stock is attributed to sector rotation, as investors appear to be shifting their focus away from biotech stocks towards sectors that are currently performing better in the market. This shift is evident as the overall market shows strength, yet Gilead's stock does not follow suit, reflecting a specific weakness in its sector.
Investors may need to reassess their positions in Gilead, especially in light of the current market dynamics. The company's recent performance could prompt discussions about its future growth prospects and whether it can regain momentum in a competitive landscape.
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Analyst Views on GILD
Wall Street analysts forecast GILD stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for GILD is 137.88 USD with a low forecast of 105.00 USD and a high forecast of 154.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
19 Analyst Rating
16 Buy
3 Hold
0 Sell
Strong Buy
Current: 149.370
Low
105.00
Averages
137.88
High
154.00
Current: 149.370
Low
105.00
Averages
137.88
High
154.00
About GILD
Gilead Sciences, Inc. is a biopharmaceutical company. It is engaged in advancing medicines to prevent and treat life-threatening diseases, including HIV, viral hepatitis, COVID-19, cancer, and inflammation. It is focused on discovering, developing, and delivering medicines to address unmet medical needs in virology, oncology, and other therapeutic areas. Its portfolio of marketed products includes Biktarvy, Genvoya, Descovy, Complera/Eviplera, Symtuza, Truvada, Stribild, Sunlenca, Epclusa, Vemlidy, Harvoni, Viread, Livdelzi, Veklury, Yescarta, Tecartus, Trodelvy, AmBisome, and Letairis. Its product candidates include Bulevirtide, Lenacapavir, Axicabtagene ciloleucel, Sacituzumab govitecan-hziy, and others. It also develops the HB-400 program and the HB-500 program. It develops therapies that are intended to provide functional cures for hepatitis B virus and human immunodeficiency virus-1. It has a cancer program, namely TREX1. It operates in more than 35 countries worldwide.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Clinical Data Support: The FDA's decision is backed by favorable safety data from a Phase 1 study that tested the autologous T cell immunotherapy in lymphoma patients, including those with relapsed or refractory primary central nervous system lymphoma, demonstrating good safety and efficacy.
- Market Potential Boost: This label update not only opens new market opportunities for Gilead but may also drive sales growth for Yescarta, further solidifying its leadership position in the CAR-T therapy market.
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- Positive Market Reaction: This FDA approval is expected to boost investor confidence, potentially leading to a positive impact on Gilead's stock price, reflecting market recognition of its innovative treatment solutions.
- Strategic Implications: The approval not only strengthens Kite's position in the highly competitive biopharmaceutical market but also opens up new revenue streams for the company, further solidifying its leadership in the cell therapy sector.
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- Addressing Clinical Needs: With a five-year survival rate of only 30% for primary CNS lymphoma, the FDA's decision provides new treatment options for this underserved patient population, potentially improving survival outcomes.
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See More
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- Safety Data Emphasis: The updated label highlights Yescarta's robust safety profile in patients with relapsed or refractory CNS lymphoma, where 85% experienced neurologic toxicities, yet the FDA deemed the risks manageable, underscoring Yescarta's unique position in this treatment landscape.
- Urgent Market Need: With a five-year survival rate of only 30% for primary CNS lymphoma and over half of patients relapsing after initial treatment, the FDA's decision provides much-needed new treatment options, addressing the urgent demand for effective therapies in this underserved market.
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