Markets dipped Thursday as Coty issued a dismal forecast, Gilead faced headwinds with its new HIV drug, and investors turned cautious ahead of Fed Chair Powell’s Jackson Hole speech. Solid PMI data complicated the interest rate outlook, stalling hopes for imminent rate cuts.
Shares of biopharmaceutical company Gilead Sciences (NASDAQ:GILD)
fell 3.5% in the morning session after reports that CVS Health will not be adding the company's new HIV prevention drug, Yeztugo, to its commercial insurance plans for now.
Kite Pharma is acquiring Interius BioTherapeutics for $350 million, adding in vivo CAR T technology that could simplify treatment and expand patient access.
Curious about the market action on Thursday? Dive into the US markets to explore the gap up and gap down stocks in the S&P500 index during today's session.
CVS rejected coverage of Gilead's new HIV prevention drug Yeztugo, citing regulatory and financial factors, while facing nearly $290 million in Medicare overcharge penalties.
Gilead Sciences (GILD) appears undervalued with strong profitability, a solid dividend, and moderate growth, offering a compelling case for value investors.
Gilead Sciences delivered a better-than-expected second quarter, propelled by the strong performance of its HIV portfolio and the launch of Yeztugo, its twice-yearly injectable for HIV prevention. Management attributed the 7% year-over-year HIV growth to robust demand for Biktarvy and Descovy, along with effective commercial execution. CEO Daniel O’Day highlighted, “Biktarvy continues to lead in share in major markets around the world,” and described Descovy’s quarter as its “strongest ever,” supported by heightened awareness and growing use of pre-exposure prophylaxis (PrEP). The company also noted that new product launches, particularly Yeztugo, contributed to positive momentum, while declines in Veklury sales due to reduced COVID-19 hospitalizations partially offset gains in the base business.
Earnings results often indicate what direction a company will take in the months ahead. With Q2 behind us, let’s have a look at Gilead Sciences (NASDAQ:GILD) and its peers.
Biopharmaceutical company Gilead Sciences (NASDAQ:GILD) beat Wall Street’s revenue expectations in Q2 CY2025, with sales up 1.8% year on year to $7.08 billion. On the other hand, the company’s full-year revenue guidance of $28.5 billion at the midpoint came in 0.8% below analysts’ estimates. Its non-GAAP profit of $2.01 per share was 2.7% above analysts’ consensus estimates.
