GILD - Gilead Sciences: Seriously Undervalued At Peak Pessimism
2024-05-28 13:31:54 ET
Summary
- 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.
- In addition, Gilead has a rich portfolio of next-generation medications that demonstrate high efficacy in the fight against HIV, breast cancer, and diffuse large B-cell lymphoma.
- Thus, I'm initiating coverage of Gilead Sciences with a "buy" rating.
Gilead Sciences ( GILD ) is one of the world's largest pharmaceutical companies with leadership positions in the global liver diseases and HIV therapeutics markets, and it also has an extensive portfolio of experimental drugs aimed at combating various types of cancer.
Investment thesis
Over the past five months, the company's share price has fallen about 20%, reflecting growing skepticism among institutional and retail investors due to the disastrous results of clinical trials evaluating the efficacy of sacituzumab govitecan and magrolimab ....
Gilead Sciences: Seriously Undervalued At Peak Pessimism