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Fly News Breaks for February 24, 2020
GILD
Feb 24, 2020 | 15:12 EDT
SunTrust analyst Robyn Karnauskas reiterated a Hold rating and $70 price target on Gilead following WHO commentary on the potential of Gilead's remdesivir for coronavirus. Karnauskas noted that the stock has been rallying since the commentary, though she believes remdesivir is unlikely to have "meaningful" contribution to the top line, and such does not assign any value to the program in her model. The analyst noted that she spoke with management and learned that remdesivir has potential clinical value for coronavirus patients, though the data is still in its early days.