Gilead Sciences, Inc. (NASDAQ:GILD) confirmed that the company fulfilled a request for compassionate access to GS-5734, a novel nucleotide analogue in development for the potential treatment of Ebola Virus Disease (EVD). The request was received last week and drug was shipped later the same day. The compound is currently being provided to a female patient in the United Kingdom, as described earlier today by officials from the Royal Free Hospital in London.
“It is very encouraging to hear that the patient in question is doing better and is no longer in critical condition. Our thoughts and wishes for continued recovery are with her, with her family and the excellent medical team at Royal Free Hospital,” commented Norbert Bischofberger, PhD, Gilead’s Executive Vice President, Research and Development and Chief Scientific Officer. “We recognize the urgent need for treatments to address Ebola and we are working with collaborators to advance development of GS-5734 as quickly as possible.”
GS-5734 was discovered as part of Gilead’s program to screen compounds in its libraries for activity against a range of potential emerging viruses, including Ebola. In collaboration with the Centers for Disease Control and Prevention (CDC) and the United States Army Medical Research Institute of Infectious Diseases (USAMRIID), the company identified GS-5734 in vitro activity against the Ebola virus.
In animal studies conducted at USAMRIID, treatment initiated on day 3 post-infection with Ebola virus resulted in 100 percent survival of monkeys. Data from these studies were recently presented at the annual Interscience Conference of Antimicrobial Agents and Chemotherapy / International Congress of Chemotherapy and Infection (ICAAC/ICC) meeting and at ID Week. Gilead recently initiated a Phase 1 clinical trial in healthy human volunteers to determine the safety, tolerability and pharmacokinetics of GS-5734.
Ebola represents a global public health crisis, and Gilead is working with USAMRIID and a number of private and public health entities to determine next steps on how to advance evaluation of GS-5734. In the event that the compound proves to be safe and effective in humans, Gilead plans to work to enable access as broadly and quickly as possible. In the interim, the company will review any requests for compassionate access on a case by case basis.
GS-5734 is an investigational compound that has not been proven safe and effective for EVD; additionally, its clinical effect in this particular patient case cannot be determined. (Original Source)
Shares of Gilead Sciences opened today at $102.79 and are currently trading down at $101.94. GILD has a 1-year high of $123.37 and a 1-year low of $85.95. The stock’s 50-day moving average is $102.68 and its 200-day moving average is $108.85.
On the ratings front, Gilead has been the subject of a number of recent research reports. In a report issued on October 19, Oppenheimer analyst Wendy Lam reiterated a Buy rating on GILD, with a price target of $124, which implies an upside of 20.6% from current levels. Separately, on October 16, RBC’s Michael Yee maintained a Buy rating on the stock and has a price target of $130.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Wendy Lam and Michael Yee have a total average return of -3.6% and 2.1% respectively. Lam has a success rate of 25.0% and is ranked #2782 out of 3795 analysts, while Yee has a success rate of 52.8% and is ranked #1317.
The street is mostly Bullish on GILD stock. Out of 13 analysts who cover the stock, 12 suggest a Buy rating and one recommends to Hold the stock. The 12-month average price target assigned to the stock is $128.00, which represents a potential upside of 24.5% from where the stock is currently trading.