Jim Cramer on Gilead: Potential Coronavirus Drug Doesn't Mean Buy the Stock
In case you missed it: Gilead reportedly has seen promising results in a Chicago study of its antiviral drug remdesivir when used to treat COVID-19 patients, according to a published report Thursday.
The study involved 125 patients, of whom 113 had severe cases, STAT reported. Only two of the patients died, while most of the others were discharged within a week, according to the report, which cited a recording of a video discussion among researchers at the University of Chicago.
And then on Monday, shares fell after BMO Capital and Wells Fargo analysts downgraded the biotech giant, saying it is fully valued amid market enthusiasm for its drug candidate to treat COVID-19, remdesivir.
The analyst noted that he finds the latest anecdotal updates for the drug encouraging But the stock no longer shines on a risk/reward basis, "given continued uncertainty around the remdesivir commercial opportunity," he said.
So, what does Jim Cramer think?
Watch the full video above for more.
Want to know what Jim Cramer and his team at Action Alerts PLUS are thinking about the markets and the stocks they're watching? Sign up on Action Alerts PLUS for more.
Cramer and the team are weighing in on what members need to know about the coronavirus pandemic's impact on the market. Here's how you can recap his entire April show.
Watch More of the Latest Videos on TheStreet and Jim Cramer
- Hey Millennials: Start Your Portfolio With an S&P Index Fund
- Apple Is Still an 'Own, Don't Trade' Stock
- Supply Crunch for Gold and Silver to Continue
- This Day in Sports History: Cubs Play First Game in Weeghman Park, Which Becomes Wrigley Field
- These Five States Have the Most Affected Small Businesses Due to the Coronavirus