Market just starting to price in the bad data on Leukemia drug at ASCO
ASCO was supposed to be the big coming out party for GILD's entrance into the cancer space. Instead, it turned into a monumental flop, and the market has been abandioning this stock in droves ever since. Every day has been DOWN since ASCO! And there's more to come. Like i said, at least $15/share was priced into the stock due to the cancer speculation. Now, that all has to come out. See you in the low $40's.
market is pricing blockbuster HCV sales in Fy2015 not cancer, you dumb fool...MM are selling high beta biotechs that went up in overheated market, if it falls another few points, buy not sell....
..look at CELG, also got hammerred
This stock has an $83 Billion market cap! Do you know how big that is? Hep C market is a fraction of that size, and GILD's share will be a fraction of that. Everything is priced in. Hep C, HIV, Leukemia, everything. This stock won't see $58 again for five years. Maybe ten.