Gilead rose after it priced remdesivir

Gilead rose after it priced remdesivir

2020-07-08 • Updated

What happened?

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.  

How will it affect the stock price?

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.

What does it mean for a trader?

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. 


What should you do for trading Gilead’s stock?

Trading stocks with FBS is easy. Follow the simple steps described below.

  1. First of all, be sure you’ve downloaded Metatrader 5. FBS allows you to trade stocks only through this software.
  2. Open the MT5 account in your personal area.
  3. Reveal all trading instruments by clicking “show all” at the “Market Watch” window.
  4. Start trading!



S&P in the Сrosshairs
S&P in the Сrosshairs

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?

Latest news

Gold’s Next Move Could Be Huge!
Gold’s Next Move Could Be Huge!

Let's dive into the world of gold. Currently, the price of gold, represented by XAUUSD, is stuck in indecision, hovering around the $1,975 mark. The market is anxiously awaiting two important factors: the release of the Federal Reserve's meeting minutes and the extension of the US debt ceiling.

What to Trade in June
What to Trade in June

Hey guys, this is the last full trading week in May, and many forward-looking individuals like myself are already preparing themselves to seize whatever opportunities June may have in store. On this note, I will review a few commodities that have satisfied my quest for swing-trading opportunities in the coming month. Follow me!

Will GBP Recover Now?
Will GBP Recover Now?

The Bank of England (BoE) has dramatically shifted its economic forecasts. They no longer expect a recession in the UK and have upgraded their growth projections. This year, the BoE predicts GDP growth of +0.25%, a significant improvement from previous expectations. Next year's forecast is even more optimistic, with a projected growth of 0.75%.

Deposit with your local payment systems

Feel the Team Spirit

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.


A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Next callback request for this phone number
will be available in

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later

Don’t waste your time – keep track of how NFP affects the US dollar and profit!

Beginner Forex book

Beginner Forex book will guide you through the world of trading.

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera