#1 - Gilead Sciences (NASDAQ:GILD)
Gilead Sciences (GILD) There are two strategies to battle the novel coronavirus pandemic. The first is a vaccine. However a vaccine won’t be available until the end of 2020, at best. The other strategy is to find a drug or a combination of drugs that can help to manage the life-threatening symptoms.
That’s where Gilead Sciences (NASDAQ:GILD) comes into play. The company has been making headlines for its drug remdesivir. The drug is currently showing promise in treating severely ill COVID-19 patients (COVID-19 is the disease caused by the coronavirus). Early data shows remdesivir improved the clinical outcomes for 68% of 53 hospitalized patients.
However, as J.P. Morgan analyst Cory Kasimov warned, “The results need to be kept in context. It’s difficult, if not impossible, to make any firm conclusions from an uncontrolled data set with a small sample size.”
Still, with no approved treatments for COVID-19, there is hope for remdesivir. The drug is currently being evaluated in at least 11 clinical trials in the U.S. and abroad. And here’s what to watch for. Gilead is set to release its findings from two Phase 3 trials in May. If those results confirm the potential for remdesivir as a treatment for COVID-19, you can expect Gilead shares to continue to climb. For the year, the stock is up over 15%.
About Gilead Sciences
Gilead Sciences, Inc, a biopharmaceutical company, discovers, develops, and commercializes medicines in the areas of unmet medical need in the United States, Europe, and internationally. The company provides Biktarvy, Genvoya, Descovy, Odefsey, Truvada, Complera/ Eviplera, Stribild, Sunlencs, and Atripla products for the treatment of HIV/AIDS; Veklury, an injection for intravenous use, for the treatment of COVID-19; and Epclusa, Harvoni, Vemlidy, and Viread for the treatment of viral hepatitis.
Read More - Current Price
- $64.78
- Consensus Rating
- Hold
- Ratings Breakdown
- 7 Buy Ratings, 11 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $83.69 (29.2% Upside)
