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-0.000257452747224589 -0.00170020774652368 -0.00230687857661765 -0.00574807866328486 -0.0014147155911853 -0.000904908170938402 0.00635984756758147 0.0221638775952385
Stock impact report

Gilead stock downgraded over questions about remdesivir revenue [MarketWatch]

Gilead Sciences, Inc. (GILD) 
Last gilead sciences, inc. earnings: 4/30 04:01 pm Check Earnings Report
US:NASDAQ Investor Relations: investors.gilead.com
Company Research Source: MarketWatch
Shares of Gilead Sciences Inc. were down 5.9% in trading on Friday after at least three analysts downgraded the stock, citing a range of concerns. Raymond James downgraded the drugmaker's shares to market perform from outperform; analyst Steven Seedhouse attributed the downgrade to a lack of clarity around the commercial viability of remdesivir, an experimental COVID-19 treatment, as well as the drug's "seemingly de minimis activity" in preliminary clinical trial data released this week. "We don't know what a sustainable revenue stream from remdesivir will look like," SunTrust Robinson Humphrey analysts wrote in a note, downgrading the stock to sell from hold. J.P. Morgan downgraded Gilead to neutral from overweight. "Remdesivir has been a big sentiment boost for GILD (if not the entire market) and the company should be commended for its efforts in so quickly addressing this public health emergency, but we still feel it's unlikely to result in tangible long-term cash flows," J.P. Morg Show less Read more
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