Gilead Sciences Inc is an American biopharmaceutical company founded in 1987 and headquartered in Foster City, California. The company develops drugs for the treatment of diseases such as HIV, AIDS, cancer, hepatitis C, and others.
Gilead Sciences' drug Biktarvy is prescribed in most cases for the treatment of HIV, its sales are growing every year. The company is developing new drugs and expanding its patent portfolio. All of the above should positively affect the price of GILD.
The value of Gilead Sciences stock depends on the number of patients with HIV, AIDS and other diseases it provides drugs for. For example, during the COVID-19 pandemic, much fewer people infected with the immunodeficiency virus were detected as a result of lockdown measures introduced in many countries. Due to that, the volume of drugs sold decreased, and the revenue of Gilead Sciences fell. This negatively affected the rate of GILD.
To a large extent, the share price of Gilead Sciences depends on the company's ability to adapt to new market conditions: to develop drugs for the treatment of diseases in a timely manner, as well as to promptly respond to consumer demands. Gilead Sciences expands and acquires other pharmaceutical companies. Successful acquisitions and mergers allow expanding the product line and obtaining new patents, which will most likely lead to an increase in the price of Gilead Sciences' stock.
When trading GILD, traders should carefully study the global health news: detection of HIV and AIDS, emergence of new viral diseases and development of advanced treatments. Competition in the pharmaceutical market is very high, especially during pandemics. For this reason, the volatility of stocks of pharmaceutical companies is growing. This is often used by traders who prefer day trading. It is important to follow the company's financial statements. The news about the growth or decline in profits change investors' sentiment, and, consequently, the GILD rate.
Risk warning: Trading in FX and CFDs entails high risk of losing capital.
Sell | 79.02 |
Buy | 79.03 |
Sentiment | 100% ▴ |
1-day change | 2.98(3.92%) |
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The name and logo of Gilead come from the Gilead Balm. According to scholar William Tyndale's sixteenth-century translation, the Balm of Gilead is a distinctive perfume used medicinally in the Bible. This healing balm is named after the Gilead region, where it was developed.
Michael Riordan was the founder of Gilead Sciences Inc. In 1987, Riordan contracted dengue while working in a clinic in the Philippines. This experience led him to develop transformative antiviral medications. Viread, the company's first breakthrough drug, is now widely utilized in various HIV/AIDS treatments.
Gilead created the first once-daily HIV drug, Atripla. After buying Triangle Pharmaceuticals, Gilead got access to a Truvada drug that could be utilized with Viread. Atripla was created by combining Truvada and a drug from Bristol-Myers Squibb, the company’s competitor.
Sovaldi was created when Gilead acquired Pharmasset, a biopharmaceutical company. After the $11 billion deal closed, Gilead had access to the hepatitis C medicine, Sofosbuvir. The drug showed nearly 100% effectiveness during trials. Sovaldi was eventually combined with another Gilead drug to create Harvoni, a once-daily tablet with a cure rate of up to 99%.
But treatments of Sovaldi and Harvoni are too expensive; they cost thousands of dollars. Insurance firms have accused Gilead of bankrupting the healthcare system even though their competitors charge the same or even more than Gilead.
As you might notice, Gilead Sciences Inc. tries to find the best solutions for treating the world's most common diseases. However, traders and investors should pay attention to its competitors in the biotechnology industry to predict Gilead’s stock price correctly. Its key rivals are Amgen, Vertex Pharmaceuticals, Regeneron Pharmaceuticals, Biogen, Seagen, Incyte, Alnylam Pharmaceuticals, BioMarin Pharmaceutical, Repligen, and Exact Sciences.
The company’s stocks are traded on NASDAQ. The stock’s all-time-high closing price of $122.21 was hit on June 23, 2015. GILD stocks are a part of such famous indices as S&P 500 and Nasdaq 100.