Company Update (NASDAQ:GILD): Gilead Sciences, Inc. Terminates Phase 2/3 Study of GS-5745 in Patients With Ulcerative Colitis
Gilead Sciences, Inc. (NASDAQ:GILD) announced that the company is stopping its combined Phase 2/3 clinical study of GS-5745, an investigational anti-MMP9 antibody, among patients with moderately to severely active ulcerative colitis. This decision follows a planned interim analysis of unblinded efficacy and safety data by the Data Monitoring Committee (DMC) after the first 150 patients of a planned 1600-patient trial were treated for an 8-week induction duration. The DMC recommended that the study be terminated early due to meeting the pre-specified futility and efficacy criteria. No safety concerns were noted in this interim analysis. Gilead has also reviewed the data and determined that there is insufficient evidence of a treatment benefit in the group of patients randomized to receive either one of two doses of GS-5745.
Separately, a Phase 3 study of GS-5745 is ongoing in patients with gastric cancer, as well as a Phase 2 study in patients with gastric cancer in combination with nivolumab and additional Phase 2 studies in moderately to severely active Crohn’s disease, rheumatoid arthritis and cystic fibrosis. These studies will continue as planned. (Original Source)
Shares of Gilead Sciences closed today at $81.70, down $0.08 or -0.10%. GILD has a 1-year high of $111.11 and a 1-year low of $76.67. The stock’s 50-day moving average is $78.90 and its 200-day moving average is $85.24.
On the ratings front, GILD stock has been the subject of a number of recent research reports. In a report issued on September 14, Credit Suisse analyst Alethia Young maintained a Buy rating on GILD, with a price target of $95, which represents a potential upside of 16% from where the stock is currently trading. Separately, on September 12, Jefferies’s Brian Abrahams reiterated a Buy rating on the stock and has a price target of $91.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Alethia Young and Brian Abrahams have a total average return of -2.0% and 6.7% respectively. Young has a success rate of 50% and is ranked #3379 out of 4172 analysts, while Abrahams has a success rate of 59% and is ranked #359.
Overall, 7 research analysts have assigned a Hold rating and 10 research analysts have given a Buy rating to the stock. When considering if perhaps the stock is under or overvalued, the average price target is $107.29 which is 31% above where the stock opened today.