Gilead (GILD) Hits 52-Week High Thanks to Sovaldi
By Zacks Equity Research
7 hours ago
Gilead Scores Legal Victory Over Roche for Sovaldi, Shares Up Zacks
Healthcare Enjoys Growth Trends: 3 Medical Stocks to Buy Zacks
Republic Services Hits 52-Week High on Operational Efficiency Zacks
Sigma-Aldrich (SIAL) Clocks New 52-Week High Zacks
Wyndham Hits 52-Week High on Solid Q2 and Increased Outlook Zacks
Shares of Gilead Sciences (GILD) hit a 52-week high of $102.57 during the trading session on Aug 20. The maker of the blockbuster drug Sovaldi however closed the trading session at $100.79. The stock was buoyed by Sovaldi’s performance in the recent past.
With more than 34% of year-to-date return and a long-term expected earnings growth rate of 29.91%, this biopharma stock seems to be an attractive pick for long-term investors. The average volume of shares traded over the last three months stands at approximately 13,242 K. Moreover, this Zacks Rank #1 (Strong Buy) company has delivered positive earnings surprises in all of the last 4 quarters with an average beat of 37.15%.
Sovaldi has not only performed encouragingly so far, but is expected to sustain this level of performance in the future as well. The blockbuster drug is currently the leading product in the lucrative HCV market.
The recent stock appreciation of Gilead was based on last week’s legal win over Roche (RHHBY) in an arbitration related to Sovaldi. Also, the company received a positive recommendation from NICE – the UK health watchdog – regarding the use of the drug for treating patients suffering from chronic hepatitis C (read more: Gilead Scores Legal Victory Over Roche for Sovaldi, Shares Up).
Meanwhile, Sovaldi continued its strong performance in the second quarter of 2014 as well. The drug has boosted Gilead’s both top line and bottom line since its launch in Dec 2013. Gilead’s second quarter adjusted earnings of $2.32 per share surpassed the Zacks Consensus Estimate of $1.61 and the year-ago figure of 48 cents per share on the back of strong revenues. Gilead recorded Sovaldi sales of $3.5 billion in the second quarter climbing 53.3% sequentially.
Other products like Complera/Eviplera (HI.V) and Stribild (HI.V) are also performing well.
Other Stocks to Consider
Some other stocks worth considering include Endo International plc (ENDP) and United Therapeutics Corporation (UTHR). Both these stocks hold a Zacks Rank #1 (Strong Buy).
Next stop 110.00 on 2 billion buyback before 1 oct 2014
(Reuters) - Vertex Pharmaceuticals Inc is stopping U.S. sales and distribution of its Incivek hepatitis C treatment, whose use has been largely supplanted by the new Sovaldi drug from Gilead Sciences Inc.
On Monday, Vertex sent a letter to doctors who treat patients with liver wasting disease to inform them that it would not be available after Oct. 14, a company spokesman confirmed on Wednesday.
Vertex said in May during a conference call with analysts that it would withdraw from the hepatitis C market but had not said when it would stop making the drug.
Incivek was approved in 2011 and quickly rose to annual sales of more than $1 billion. Sales began to decline at the end of 2012 as patients began to wait for promising new drugs from competitors, which hit the market at the end of 2013.
The spokesman said the move was due to dwindling patients for the drug and the new treatments that are available. In the first half of the year, Gilead sold about $6 billion of Sovaldi, which has a high cure rate without the risk of the side effects older treatments carried.
Johnson & Johnson markets the Vertex hepatitis C treatment outside of the United States.
Vertex shares were up 3.7 percent to $88.58 on Wednesday.
Especially after earning come out for 3rd qtr 2014
100 A SHARE BY NOV 2014---SHORTS HAVE BEEN DULY NOTIFIED----WILL YOU BUY BACK IN TIME BEFORE YOU ARE CRUSHED BY GILD?????????????????????
we are off the new higher highs----if you are short i suggest you buy back while you can
With the ending buyback authorization and will reduce outstanding shares by about 1 to 2 percent in the current quarter whle creating even better eps due to 20 million share less on the books
The 5 billion dollar buy back has already purchase 3 billion dollars with the remaining 2 billion to be complete by oct 2014 because the board just approved another 5 billion dollar buy back to be completed by 2017
I have never tweeted and never will---useless idea and a complete waste of time
Happy to see others in pain with losses like me in 2008
YOU HAVE BEEN DUELY NOTIFIED
Profit taking by the big boys----get out now and take yor loss before it gets worse
pe is 26 and will drop to 20 soon----look for another 100 dollar drop between now and october
COULD HAPPEN THIS WEEK????????????
You heard it first here---i have never tweeted in my life and do not intend to do so ever!!!!!!!!!!!!!!!!!!!!!!!!!!complete waste of time