Gilead Stock In Revival Mode With Promising HIV Market And Stabilizing HCV Numbers
- Gilead Sciences expects the FDA decision for bictegravir early next year, boosting its position in HIV market.
- The decline in its HCV segment may have bottommed out despite the Mavyret threat.
- Gilead stock’s momentum should be sustained by the company’s revised guidance for full year performance.
By S. Mitra, MBA (ISB)
Gilead Sciences Inc. (NASDAQ:GILD) stock lagged behind benchmark indices this year but shows signs of reversal lately. The stock's robust positive momentum should continue on the back of Gilead's revived fortune in HCV market and encouraging developments in HIV. The stock is still more than 10 percent below its 52 weeks high of $82.10, and way lower than from where we bought it. At the current price level, though, Gilead has potential to provide solid returns as the company provides updates about its bictegravir review process. The company's recently announced earnings figures also show it is stabilizing in the HCV market, which had shown worrying decline in the very recent past.
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