Zacks.com users have recently been watching Gilead (GILD) quite a bit. Thus, it is worth knowing the facts that could determine the stock's prospects.
Gilead Sciences, Inc. (NASDAQ:GILD ) Jefferies 2024 Global Healthcare Conference June 5, 2024 11:00 AM ET Company Participants Merdad Parsey - Chief Medical Officer Conference Call Participants Michael Yee - Jefferies Michael Yee I am very happy to have up here with us Chief Medical Officer of Gilead, Merdad Parsey. It's great to have you with us fresh off of four or five days of ASCO.
Gilead (GILD) and partner Arcus Biosciences (RCUS) present data from metastatic colorectal cancer and gastrointestinal cancer study.
Gilead Sciences, Inc.'s (GILD) confirmatory TROPiCS-04 study on Trodelvy in locally advanced or metastatic urothelial cancer fails to achieve its primary endpoint.
Gilead Sciences' Trodelvy improved survival by 1.3 months more than chemotherapy in previously treated patients with advanced lung cancer in a late-stage trial, a difference that was not statistically significant, the company said on Friday.
Gilead Sciences said on Thursday its drug Trodelvy, tested in patients with bladder cancer who previously received chemotherapy, did not meet the main goal of a late-stage study.
On April 26, Gilead Sciences published financial results for the first quarter of 2024, which were better than I expected. So, total sales of oncology drugs amounted to $789 million, up about 18% yearly thanks to strong sales of Trodelvy. On May 18, 2024, the company published additional results from the ASSURE study, which increased my confidence that seladelpar will become the "gold standard" in the primary biliary cholangitis therapeutics.
At this point, Gilead Sciences could only be fairly valued with trading for 10 times free cash flow. With Veklury sales close to a bottom, Gilead Sciences might finally start growing its top line again - acquisition might also contribute to growth. With a dividend yield of 4.5% we are paid to wait until sentiment changes at some day.
Gilead is sitting at one of the lowest valuations in the Big Pharma sector, with a high and sustainable 4.6% dividend yield available for new buyers. The stock has an enviable track record of rising strongly in price when turmoil hits Wall Street and the U.S. economy. On a combination of factors, Gilead may be a top defensive pick to own the rest of 2024.
The American Society of Clinical Oncology is set to gather on May 31 in Chicago for its annual meeting. Companies such as GSK, Moderna, BioNTech, Gilead, and many others will reporting their progress.
Gilead Sciences has a 4.5% yield. The company has struggled with declining profits and sales in recent years. The company's growth potential lies in its HIV and oncology treatments, but it faces competition and disappointing trial results. Gilead's 4.5% yield and 6% growth potential offer a long-term return potential of 10% to 11%, similar to other dividend ETFs.
While it tends to fly under the radar for many people, the biotech industry has seen a resurgence in investor interest over the last couple of years. While there could be several reasons for this, such as the COVID-19 pandemic bringing the value of biotechnology to the forefront or even the expansion of education in the biosciences, the fact remains – biotech is getting more attention than ever before.