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Gilead (GILD) Up 2.6% in 3 Months: Will the Momentum Continue?
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Shares of Gilead Sciences, Inc. (GILD - Free Report) has gained 2.6% in the past three months against the industry’s decline of 10.2%.
A slew of positive updates on approved drugs and pipeline progress have kept the stock in the green.
Last month, Gilead announced new positive data from the phase III TROPiCS-02 study on the breast cancer drug Trodelvy (sacituzumab govitecan-hziy) on the key secondary point of overall survival (OS). Results showed Trodelvy demonstrated a statistically significant and clinically meaningful improvement of 3.2 months in OS compared to TPC (physicians’ choice of chemotherapy, TPC).
Other key secondary endpoints, including objective response rate (ORR), demonstrated statistically significant improvement in favoring Trodelvy versus TPC. Time to deterioration (TTD) of Global Health Status/Quality of Life (QoL) and Fatigue scale per EORTC-QLQ-C30 also favored Trodelvy versus TPC.
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Gilead has already submitted a supplemental biologics license application (sBLA) to the FDA based on data from TROPiCS-02.
Separately, the Committee for Medicinal Products for Human Use (“CHMP”) of the European Medicines Agency (“EMA”) issued a positive opinion for Chimeric Antigen Receptor (CAR) T-cell therapy Yescarta (axicabtagene ciloleucel) for adult patients with diffuse large B-cell lymphoma (DLBCL) and high-grade B-cell lymphoma (HGBL) that relapses within 12 months from completion of, or is refractory to, first-line chemoimmunotherapy. A final decision is expected in the coming months.
These updates further advance Gilead’s efforts to diversify in the oncology space.
The CHMP adopted a positive opinion to extend the indication of its COVID-19 treatment Veklury (remdesivir) for treating pediatric patients (weighing at least 40 kg) who do not require supplemental oxygen and are at increased risk of progressing to severe COVID-19 and pediatric patients (four weeks of age and older and weighing at least 3 kgs) with SARS-CoV-2 with pneumonia who require supplemental oxygen (low- or high-flow oxygen or other non-invasive ventilation at the start of treatment).
Gilead’s HIV franchise got a boost with the European Commission approving HIV treatment lenacapavir under the brand name Sunlenca for treating HIV infection, in combination with other antiretroviral(s), in adults with multi-drug resistant HIV infection for whom it is otherwise not possible to construct a suppressive anti-viral regimen.
Most anti-virals act on just one stage of viral replication. Sunlenca is designed to inhibit HIV at multiple stages of its lifecycle and has no known cross-resistance to other existing drug classes. In addition, Sunlenca is the only HIV treatment option administered twice yearly. This is a big advantage over the existing treatments and will enable Gilead to capture market share.
Gilead already has a strong HIV portfolio. However, competition is stiff in the HIV business from the likes of GSK plc (GSK - Free Report) , and hence the approval of new treatments holds the key.
GSK’s HIV franchise recorded 7% growth in the second quarter. Growth was driven by new HIV products Dovato, Cabenuva, Rukobia, Juluca and Apretude, and a favorable U.S. pricing mix.
Estimates for Novartis’ 2022 earnings per share have increased from $6.06 to $6.09 in the past 60 days.
Earnings of Novartis beat estimates in three of the last four quarters and missed the mark just once, witnessing a surprise of 1.39%, on average. In the last reported quarter, NVS delivered an earnings surprise of 3.31%.
Loss estimates for BOLT have narrowed to $2.54 from $2.87 in the past 60 days. BOLT surpassed earnings in three of the trailing four quarters, the average being 2.39%.
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Gilead (GILD) Up 2.6% in 3 Months: Will the Momentum Continue?
Shares of Gilead Sciences, Inc. (GILD - Free Report) has gained 2.6% in the past three months against the industry’s decline of 10.2%.
A slew of positive updates on approved drugs and pipeline progress have kept the stock in the green.
Last month, Gilead announced new positive data from the phase III TROPiCS-02 study on the breast cancer drug Trodelvy (sacituzumab govitecan-hziy) on the key secondary point of overall survival (OS). Results showed Trodelvy demonstrated a statistically significant and clinically meaningful improvement of 3.2 months in OS compared to TPC (physicians’ choice of chemotherapy, TPC).
Other key secondary endpoints, including objective response rate (ORR), demonstrated statistically significant improvement in favoring Trodelvy versus TPC. Time to deterioration (TTD) of Global Health Status/Quality of Life (QoL) and Fatigue scale per EORTC-QLQ-C30 also favored Trodelvy versus TPC.
Image Source: Zacks Investment Research
Gilead has already submitted a supplemental biologics license application (sBLA) to the FDA based on data from TROPiCS-02.
Separately, the Committee for Medicinal Products for Human Use (“CHMP”) of the European Medicines Agency (“EMA”) issued a positive opinion for Chimeric Antigen Receptor (CAR) T-cell therapy Yescarta (axicabtagene ciloleucel) for adult patients with diffuse large B-cell lymphoma (DLBCL) and high-grade B-cell lymphoma (HGBL) that relapses within 12 months from completion of, or is refractory to, first-line chemoimmunotherapy. A final decision is expected in the coming months.
These updates further advance Gilead’s efforts to diversify in the oncology space.
The CHMP adopted a positive opinion to extend the indication of its COVID-19 treatment Veklury (remdesivir) for treating pediatric patients (weighing at least 40 kg) who do not require supplemental oxygen and are at increased risk of progressing to severe COVID-19 and pediatric patients (four weeks of age and older and weighing at least 3 kgs) with SARS-CoV-2 with pneumonia who require supplemental oxygen (low- or high-flow oxygen or other non-invasive ventilation at the start of treatment).
Gilead’s HIV franchise got a boost with the European Commission approving HIV treatment lenacapavir under the brand name Sunlenca for treating HIV infection, in combination with other antiretroviral(s), in adults with multi-drug resistant HIV infection for whom it is otherwise not possible to construct a suppressive anti-viral regimen.
Most anti-virals act on just one stage of viral replication. Sunlenca is designed to inhibit HIV at multiple stages of its lifecycle and has no known cross-resistance to other existing drug classes. In addition, Sunlenca is the only HIV treatment option administered twice yearly. This is a big advantage over the existing treatments and will enable Gilead to capture market share.
Gilead already has a strong HIV portfolio. However, competition is stiff in the HIV business from the likes of GSK plc (GSK - Free Report) , and hence the approval of new treatments holds the key.
GSK’s HIV franchise recorded 7% growth in the second quarter. Growth was driven by new HIV products Dovato, Cabenuva, Rukobia, Juluca and Apretude, and a favorable U.S. pricing mix.
Zacks Rank and Stocks to Consider
Gilead currently carries a Zacks Rank #3 (Hold). A couple of better-ranked stocks in the sector are Novartis (NVS - Free Report) and Bolt Pharmaceuticals (BOLT - Free Report) . Both carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here
Estimates for Novartis’ 2022 earnings per share have increased from $6.06 to $6.09 in the past 60 days.
Earnings of Novartis beat estimates in three of the last four quarters and missed the mark just once, witnessing a surprise of 1.39%, on average. In the last reported quarter, NVS delivered an earnings surprise of 3.31%.
Loss estimates for BOLT have narrowed to $2.54 from $2.87 in the past 60 days. BOLT surpassed earnings in three of the trailing four quarters, the average being 2.39%.