Gilead Sciences (GILD) Clarifies Remdesivir Data - RBC Capital

RBC Capital analyst Brian Abrahams reiterated an Outperform rating and $85.00 price target on Gilead Sciences (NASDAQ: GILD) after getting additional clarity from the company that showed remdesivir has a modest favorable trend on the primary endpoint hazard ratio in the recently revealed China severe COVID-19 study.

That said, the analyst believes the company has, at best, a 50/50 PoS on the possibility of a positive outcome from upcoming study readouts and sees "any major impact on GILD or the pandemic as unlikely". He went on to state "data from which were accidentally posted by WHO, the trial summary described no difference in time to clinical benefit vs. placebo, with a HR of 1.23 that did not reach stat. sig. (CI 0.87–1.75), but it had been unclear whether this trend was favoring remdesivir or placebo. GILD has since clarified to us that it favored remdesivir, meaning that pts on remdesivir trended to a roughly 23% better time to improvement".

For an analyst ratings summary and ratings history on Gilead Sciences click here. For more ratings news on Gilead Sciences click here.

Shares of Gilead Sciences closed at $80.49 yesterday.

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