
More and more analysts are sure Brent oil will surpass $100 a barrel. So how heavily will oil move the markets, and what will the direction of the movement be? Let's find out!
2020-07-08 • Updated
Gilead Sciences has priced this Monday its coronavirus-fighting drug - remdesivir. The price will depend on the buyer. For example, the US government will have to pay $2 340 for a 5-day course of the drug, US private insurance companies - $3 120. Also, they will significantly cut prices to nearly $500 for developing countries. The price turned out less than analysts expected as the pre-sales early price was $12 000. Indeed, it’s the one drug that at least shows some effectiveness in hospitalized cases. That’s why they are allowed to set any price they want. Gilead is spending 1 billion dollars on its manufacturing by the end of the year, that’s why the price is quite reasonable.
According to RBC Capital Markets, remdesivir sales may increase revenue by nearly 2.3 billion dollars this year. That will add 1.3 billion dollars to the Gilead’s profit and 1 dollar to earnings per share for 2020.
Bloomberg strategists set the target price at $97. Now it’s $77. It’s worth considering that COVID-19 vaccine developments may weigh on Gilead in the long term. When the vaccine is created, remdesivir won’t be needed anymore and the stock may lose its value. Nevertheless, there is nothing that can stop the stock from rising in the short term. The stock is headed towards the resistance at $78. If it crosses it, it may surge further to the high of May 11 at $81. Support levels are $73.5 and $72.
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More and more analysts are sure Brent oil will surpass $100 a barrel. So how heavily will oil move the markets, and what will the direction of the movement be? Let's find out!
About PayPal PayPal is an electronic commerce company that facilitates payments between parties through online transfers…
Institutional investors speak about further growth in the stock market. In the exact market that has doubled since COVID-19 and doesn’t plan to stop. Is it possible?
On Thursday, the 2nd of February, the Bank of England will publish its report concerning interest rates and inflation data for the Eurozone. Professionals and investors anticipate that Andrew Bailey’s lead team of policy makers will likely raise interest rates to 4%; the highest in over a decade, for the tenth time in a row.
The first FOMC meeting comes after a buildup of anticipation from traders and investors alike, as the markets await what posture the Fed will take regarding the interest rates; would there be a hike or a cut in interest rates?
Western countries are trying to find other options for oil and gas supplies after a 10th package of sanctions, which will put more pressure on Russian oil and decrease global oil supply. Italy, for example, is in talks with Libya.
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