Shares in Gilead Sciences (GILD) fell 5% in Friday’s trading after the company’s first quarter earnings results sparked a wave of downgrades from the Street. JP Morgan and Raymond James downgraded the stock from Buy to Hold on May 1, while SunTrust Robinson went one step further- taking its GILD rating from Hold to Sell due to “lack of visibility to growth.”“All guidance has been withdrawn due in part to uncertainty around COVID-19 impact on the core business, but primarily due to unknown revenue and costs with remdesivir [Gilead’s antiviral drug for the treatment of COVID-19]. We believe investors should …read more
Source:: Yahoo Finance
