Gilead Sciences, Inc. GILD was a big mover last session, as the company saw its shares rise nearly 7% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This breaks the recent trend of the company, as the stock is now trading above the volatile price range of $63.20 to $72.90 in the past one-month time frame.
The upmove came presumably due to initiation of two phase 3 studies to evaluate its antiviral candidate, remdesivir, as a treatment for recent coronavirus outbreak.
The company has seen five negative estimate revisions in the past few weeks, while its Zacks Consensus Estimate for the current quarter has also moved lower over the past few weeks, suggesting there may be trouble down the road. So make sure to keep an eye on this stock going forward, to see if this recent move higher can last.
Gilead Sciences currently has a Zacks Rank #5 (Strong Sell) while its Earnings ESP is 0.00%.
Gilead Sciences, Inc. Price
Gilead Sciences, Inc. price | Gilead Sciences, Inc. Quote
Investors interested in the Medical - Biomedical and Genetics industry may consider a better-ranked stock like Agenus Inc. AGEN, which carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Is GILD going up? Or down? Predict to see what others think:Up or Down
Today's Best Stocks from Zacks
Would you like to see the updated picks from our best market-beating strategies? From 2017 through 2019, while the S&P 500 gained and impressive +53.6%, five of our strategies returned +65.8%, +97.1%, +118.0%, +175.7% and even +186.7%.
This outperformance has not just been a recent phenomenon. From 2000 – 2019, while the S&P averaged +6.0% per year, our top strategies averaged up to +54.7% per year.
See their latest picks free >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Gilead Sciences, Inc. (GILD) : Free Stock Analysis Report
Agenus Inc. (AGEN) : Free Stock Analysis Report
To read this article on Zacks.com click here.