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!
Gilead rose after it priced remdesivir
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.
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.
- First of all, be sure you’ve downloaded Metatrader 5. FBS allows you to trade stocks only through this software.
- Open the MT5 account in your personal area.
- Reveal all trading instruments by clicking “show all” at the “Market Watch” window.
- Start trading!
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?
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.
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!
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%.