Skip to main content

Market Overview

Analyst Says Gilead's Remdesivir Could Be Approved 'Within Months' For COVID-19 Treatment

Analyst Says Gilead's Remdesivir Could Be Approved 'Within Months' For COVID-19 Treatment

A senior research analyst at Piper Sandler believes Gilead Sciences Inc.'s (NASDAQ: GILD) Remdesivir antiviral may soon be approved for COVID-19 treatment.

The Gilead Analyst

Tyler Van Buren maintains a Neutral rating on Gilead with a price target of $70.

The Gilead Thesis

Remdesivir has been shown to be effective against COVID-19. Clinical data indicates Remdesivir is safer than alternative Favipiravir and also more effective. Van Buren said data gathered from 200 patients is “highly encouraging” and Remdesivir drug trials are positive.

Trials conducted in China and Japan indicate that Favipiravir, which is manufactured by Toyama Chemical Co. owned by FUJIFILM Holdings Corp (OTC: FUJIY) under the brand name Avigan, also has efficacy against RNA viruses. The drug is somewhat effective in treating COVID-19, but needs to be used early on, according to Japanese officials.

Benzinga is covering every angle of how the coronavirus affects the financial world. For daily updates, sign up for our coronavirus newsletter.

Van Buren said there are currently five Remdesivir trials underway, of which two are in China. China’s test results should be out by the end of the month. Gilead’s own two trial results will follow next. These are shorter 14-day trials but with restrictive entry criteria. A 30-day NIAID Hospitalized US Adult Phase II trial is also being carried out to measure Remdesivir’s efficacy against a placebo.

Remdesivir is likely to be approved for broad use in the coming months, Van Buren wrote in a note. Due to the COVID-19 epidemic, the U.S. Food and Drug Administration may consider fast-tracking approval.

GILD Price Action

Gilead shares traded 1.6% higher Thursday morning. The stock closed Wednesday's session 6.58% higher at $79.42.

Latest Ratings for GILD

Apr 2021BernsteinUpgradesMarket PerformOutperform
Mar 2021RedburnUpgradesNeutralBuy
Feb 2021SVB LeerinkMaintainsOutperform

View More Analyst Ratings for GILD
View the Latest Analyst Ratings


Related Articles (GILD)

View Comments and Join the Discussion!

Posted-In: Coronavirus Covid-19 remdesivirAnalyst Color Health Care Top Stories Analyst Ratings General Best of Benzinga

Latest Ratings

GDWolfe ResearchDowngrades
QRTEAB of A SecuritiesInitiates Coverage On
ABB of A SecuritiesDowngrades42.0
VCTRB of A SecuritiesUpgrades32.0
BSIGB of A SecuritiesUpgrades27.0
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at