Can the New FDA Nod of Approval Push Gilead to New Highs
- U.S. FDA approved Gilead Sciences Inc.’s experimental antiviral drug, remdesivir, for use as it’s showing good signs of helping hospitalised patients recover more quickly from Corona Virus.
From a Trend Analysis perspective - price action has been very choppy with lots of buying and selling in an almost Up-trending consolidation.
We expect Gilead to push higher with this recent news coupled with it Beating Earning Expectations for Q1 2020. This stock isnt a value stock with a PE of 18x and a Price to Book of 4x but it isn't overly expensive considering its growth potential (PEG 5yr 0.57).