This story was originally published here.
Editor's Note: Just as we were posting this story, news broke that in a government trial Gilead's remdesivir drug showed promise as a treatment for COVID-19. That only adds to the potential of this stock. For more on that leak, click here.
The big picture for Gilead Sciences (NASDAQ:GILD) is a promising one. But for investors interested in buying GILD stock, a bit of patience and price confirmation are the prescription for longer-term profits within the portfolio.
In a world stricken by the novel coronavirus, and a stock market that’s done more than its share of climbing a wall of worry and discounting Covid-19’s societal and economic over the past month, today’s buy decision might seem a bit less approachable. That’s certainly understandable.
The fact is the S&P 500 is up nearly 30% in just over a month’s time. And growth names such as Shopify (NYSE:SHOP) and Tesla (NASDAQ:TSLA) have led the charge with even larger gains which have stretched greater than 60%.
It’s been a record-breaking rally and nearly as amazing as the history-making, corrective fallout preceding it. But it would be a mistake to include biotechnology giant Gilead in that grouping. All one has to do is look at what’s happening off and on the price chart of GILD stock for evidence of sustainable profits beyond the short term.
It’s no secret Gilead is one of a handful of drug manufacturers with a potential therapy to combat Covid-19. And unsurprisingly, day-to-day headlines inciting both fears and jeers in GILD stock are par for the course as evidence of remdesivir’s effectiveness is being figured out. As it stands though, the verdict on multiple clinical trials is still very much in the deliberation phase.
But remdesivir isn’t the end all, be all for Gilead either. For today’s investors with an eye on the big picture, Gilead is more than just about winning the arm’s race to combat the coronavirus.
Looking past the disease, the company’s substantial HIV drug portfolio led by its drug Biktarvy, Gilead’s recent moves into oncology and earnings are big deals as well. It would be a mistake to ignore those potential catalysts. And that’s likely to start with Thursday’s Q1 release when the drug maker is forecast to deliver profits of $1.59 per share on revenues of $5.4 billion.
Editor's Note: To keep reading, click here.
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