Has This Hot Stock Run Out of Steam?
One of the hottest healthcare stocks on the markets of late has been HIV-focused drugmaker Gilead Sciences (NASDAQ: GILD). Shares of Gilead are up a whopping 33% over just the past three months, dwarfing the S&P 500 and its 8% losses during that stretch. But with Gilead's shares now trading at their 52-week high, is it too late to buy the stock?
Here's a closer look at what's been behind Gilead's recent rally and whether or not its shares could still go higher.
On Oct. 27, Gilead released its third-quarter numbers. Sales for the period ended Sept. 30 came in at just over $7 billion and were down 5% year over year. However, that's mainly due to the decline in sales of Veklury, the company's COVID-19 treatment. When excluding that, the company's sales showed 11% growth, with Gilead's core HIV segment increasing by 7% to $4.5 billion.
Source Fool.com
