GILEAD SCIENCES – GILD NASDAQ
Remdesivir Trial Success On Covid 19 – Shares Soar – Up 20%
Bio-pharma stock Gilead Sciences has advanced on news that their Remdesivir drug treatment for Covid-19 has had positive results in a recent trial. Out of 113 patients with severe Covid -19 , 2 died and all the others have been discharged from the hospital. This new drug application could propel Remdesivivr into BLOCKBUSTER territory .
8 analysts rate these shares as STRONG BUY with a $85-$90 TARGET PRICE. These target prices may be increased after the effects of Remdesivir are evaluated and upgraded to BLOCKBUSTER status
We feel that GILD should be a core holding in your portfolio and serious investors should take a starter position in the shares and average their position over time .The reward for owning these shares over time far out weighs overpaying for them now .
Shares of the large-cap biotech Gilead Sciences (NASDAQ:GILD) jumped by as much as 16.1% on the letest news. The biotech’s stock leaped higher after an encouraging report by the science and medical news website STAT suggesting that Gilead’s antiviral medication Remdesivir may be effective at treating patients hospitalized with severe cases of COVID-19.
While the preliminary data shouldn’t be taken as gospel by either patients or investors, these initial results are impressive nonetheless. In one trial by the University of Chicago Medicine, for instance, researchers reported that the vast majority of patients treated with Remdesivir were discharged in less than a week, and only two patients died during the study.
If the remaining study results are equally as noteworthy, Gilead should have a strong case for a historically quick approval for Remdesivir in the United States, and perhaps in several international territories as well. The Food and Drug Administration has already signaled that it is willing to green-light a viable COVID-19 treatment in record time.
The big deal from an investing standpoint is that an approval should land Gilead a multibillion-dollar payday. While Remdesivir’s price point probably won’t be as rich as Gilead’s other antiviral medications, there should be more than enough demand to push this drug into blockbuster territory (sales greater than $1 billion per year) within a few short months.
The full results from this late-stage trial should be released any day now. As such, biotech investors will definitely want to keep a close eye on this rapidly developing story.
Companies fighting the coronavirus pandemic have seen mixed success, but good news in their efforts has generally resulted in big moves higher for their stocks. That was the case today for Gilead Sciences (NASDAQ: GILD) and Moderna (NASDAQ: MRNA), and some see further gains ahead if these biotechs can make good on their promises to produce solutions in treating COVID-19.
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