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Strength Seen in Gilead (GILD): Can Its 8.5% Jump Turn into More Strength?
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Gilead Sciences (GILD - Free Report) shares soared 8.5% in the last trading session to close at $68.49. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 6.9% loss over the past four weeks.
The surge is mostly attributable to positive results from the late study PURPOSE 1 wherein twice-yearly lenacapavir demonstrated its potential as a new tool to help prevent HIV infections with zero infections and 100% efficacy. On the basis of these results, the independent Data Monitoring Committee recommended that Gilead stop the blinded phase of the trial and offer open-label lenacapavir to all participants.
This HIV and hepatitis C drugmaker is expected to post quarterly earnings of $1.58 per share in its upcoming report, which represents a year-over-year change of +17.9%. Revenues are expected to be $6.66 billion, up 0.9% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Gilead, the consensus EPS estimate for the quarter has been revised marginally lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on GILD going forward to see if this recent jump can turn into more strength down the road.
Gilead is part of the Zacks Medical - Biomedical and Genetics industry. ANI Pharmaceuticals (ANIP - Free Report) , another stock in the same industry, closed the last trading session 2.2% lower at $59.39. ANIP has returned -1.5% in the past month.
ANI's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.94. Compared to the company's year-ago EPS, this represents a change of -26.6%. ANI currently boasts a Zacks Rank of #4 (Sell).
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Strength Seen in Gilead (GILD): Can Its 8.5% Jump Turn into More Strength?
Gilead Sciences (GILD - Free Report) shares soared 8.5% in the last trading session to close at $68.49. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 6.9% loss over the past four weeks.
The surge is mostly attributable to positive results from the late study PURPOSE 1 wherein twice-yearly lenacapavir demonstrated its potential as a new tool to help prevent HIV infections with zero infections and 100% efficacy. On the basis of these results, the independent Data Monitoring Committee recommended that Gilead stop the blinded phase of the trial and offer open-label lenacapavir to all participants.
This HIV and hepatitis C drugmaker is expected to post quarterly earnings of $1.58 per share in its upcoming report, which represents a year-over-year change of +17.9%. Revenues are expected to be $6.66 billion, up 0.9% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Gilead, the consensus EPS estimate for the quarter has been revised marginally lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on GILD going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Gilead is part of the Zacks Medical - Biomedical and Genetics industry. ANI Pharmaceuticals (ANIP - Free Report) , another stock in the same industry, closed the last trading session 2.2% lower at $59.39. ANIP has returned -1.5% in the past month.
ANI's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.94. Compared to the company's year-ago EPS, this represents a change of -26.6%. ANI currently boasts a Zacks Rank of #4 (Sell).