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Why Is Gilead Sciences (GILD) A Zacks Rank #1 Stock Right Now?

Gilead Sciences, Inc. GILD is an independent biopharmaceutical company that seeks to provide accelerated solutions for patients and the people who care for them. They have a broad-based focus on developing and marketing drugs to treat patients with infectious diseases, including viral infections, fungal infections and bacterial infections, and a specialized focus on cancer.

Gilead was just added to the Zacks Rank #1 (Strong Buy) list today.

On Monday, Gilead announced that it would acquire Nimbus Apollo, a smaller drug researcher working on nonalcoholic steatohepatitis (NASH) liver treatments. There are currently no NASH therapies on the market, and about 20% of US adults have the disease. By acquiring Nimbus Apollo for just $400 million, Gilead has made a low-risk, high reward move.

Gilead investors hope that this deal will help the company maintain a period of recent success. In the past month, the stock gained nearly 7%. In that time frame, we have also seen a positive estimate revision for the company’s current quarter and annual earnings.

It’s also important to note that the Gilead currently has a positive Earnings ESP of 6.21% for the current quarter, and 10.24% for the fiscal year. Additionally, the company has exceeded earnings expectations by an average of 7.79% over the trailing four quarters and currently has an “A” grade in the weighted VGM average category of our Style Scores system.

Check out our chart on GILD here:

It looks like Gilead is a Zacks Rank #1 (Strong Buy) because it has the perfect combination of recent positive news and solid fundamental metrics.

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GILEAD SCIENCES (GILD): Free Stock Analysis Report
 
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