I don't see any reason there. Over all, GILD is already in lower end of the valuation with it's current P/E. I had never recall they are in such low P/E in past, it is pure caused by market playing down. Compare to other BioPham, I think this stock is no where to go but up. so don't be disturbed by daily fluctuation as many institution investors are in and out for day trading.
Yeah, but that usage for Ranexa is not something on the company's official pipeline (at least, I don't think). I wonder whether this is anything to do with the re-weighting of the NASDAQ today. There's lot's with respect to Apple, but I haven't seen a comprehensive breakdown of what all has gotten moved around. Since such a high percentage of Gilead is owned by institution investors, I suppose ETFs' re-weighting could have an impact. Just a thought; I really have no idea.