Barchart Research Team - BC - Thu Aug 02, 6:00PM CDT
The "Chart of the Day" is Gilead Sciences (GILD), which showed up on Thursday's Barchart "All-Time High" list. Gilead gapped higher on Thursday, posted an all-time high of $58.84 and closed up +6.82%. TrendSpotter has been long Gilead since June 27 at $51.25. Gilead surged Thursday after rival drugmaker Bristol-Myers suspended a study of one of its hepatitis C drug candidates after at least one patient suffered heart failure. Bristol-Myers has been in a race with Gilead to develop the next generation of hepatitis C treatments, according to Bernstein analyst Dr. Tim Anderson. Gilead bought hepatitis C drug developer Pharmasset in January for $11.1 billion. The deal gave it several experimental hepatitis treatments, including one labeled GS-7977 that many analysts see as promising. Credit Suisse analyst Catherine Arnold said that because Gilead's GS-7977 isn't associated with major safety issues, investors will view the company's hepatitis C program more positively. Gilead Sciences with a market cap of $41.1 billion, is an independent biopharmaceutical company that seeks to provide accelerated solutions for patients and the people who care for them. They have a broad-based focus on developing and marketing drugs to treat patients with infectious diseases, including viral infections, fungal infections and bacterial infections, and a specialized focus on cancer.
How we found the Chart of the Day:
We found the "Chart of the Day" by scanning the Barchart "All Time High" list. In order to get to that list, we first clicked on the Stocks menu item on the Barchart home page, then on the "All Time Highs" menu item on the left menu bar. We then sorted the list by percentage gainers by clicking on the "Percent" column title. A stock that has posted a new All-Time high is typically showing strong upside momentum.
The status of Barchart's Opinion trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 10 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com web site when you read this report.
- TrendSpotter: Buy
- Short-Term Indicators: 100% Buy
- Medium-Term Indicators: 100% Buy
- Long-Term Indicators: 100% Buy
- Overall Average 100% Buy
Barchart links for further information:
Chart of the Day Archive
View Past Chart of the Day Reports