We recently published a list of Top 10 Stocks Wall Street is Discussing. In this article, we are going to take a look at where Gilead Sciences Inc (NASDAQ:GILD) stands against other top stocks Wall Street is discussing.
Bill Strazzullo, Bell Curve Trading chief market strategist, said in a latest program on CNBC that the market rally that started during the peak of the pandemic driven by fiscal stimulus seems to have “tapped out.” The analyst sees more pain ahead:
“The bottom line of all this is that we’ve only started this. We’ll be lucky if we get out of this top to bottom only down 20%. I think eventually, across the indices—Dow, S&P, NASDAQ 100—we’ll end up being down 25% before it’s all done.”
Asked what he would advise to long-term investors, the analyst recommended taking some money off the table and bracing for more impact:
“It’s not anything very esoteric. Take some money off the table—you’ll be able to deploy that capital at much better levels later in the year. But right now, Trump is taking us not only into a trade war but into a full-blown recession. I think the mistake people are making is that we’ve been spoiled with these V bottoms—we go down 10 or 12% and then right back up. This is not going to be like that. We are going to be in for a much deeper drawdown and I think something that’s going to last a significant amount of time.”
READ ALSO: 7 Best Stocks to Buy For Long-Term and 8 Cheap Jim Cramer Stocks to Invest In
For this article, we picked 10 stocks making moves on important news. With each stock we have mentioned the number of hedge fund investors. Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (see more details here).
A physician and a patient having a discussion in a hospital about biopharmaceutical medicines.
Gilead Sciences Inc (NASDAQ:GILD)
Number of Hedge Funds Investors: 59
Josh Brown, CEO of Ritholtz Wealth Management, said during a program on CNBC last month that he’s paying attention to Gilead Sciences Inc (NASDAQ:GILD).
“I haven’t personally bought or sold this stock in like 15 years but uh this is a longstanding sort of uh biotech pharmaceutical name used to be thought of as almost a blue chip it’s about a hundred billion dollar market cap popped up on our list of the best stocks in the market probably because was last week they beat on both the top and the bottom lines and this is a chart that’s spent about eight eight and a half almost nine full years in a consolidation now it’s starting to break out I don’t know the name well enough to have a very strong opinion about whether or not this breakout will hold but I think people that like this sector and they’re looking for ideas Gilead is a big liquid stock that nobody talks about anymore and if you dig in on the fun this might be an area where you want to take a a closer look.”
Polaris Global Equity Strategy stated the following regarding Gilead Sciences, Inc. (NASDAQ:GILD) in its Q3 2024 investor letter:
“U.S. biopharma/biotech companies topped the health care sector, with the majority of holdings posting returns in excess of 10%. Gilead Sciences, Inc. (NASDAQ:GILD) had two big announcements during the quarter: 1) the FDA approved its new liver disease treatment for biliary cholangitis and 2) its phase III HIV drug trial reduced new infections by 96% when compared to background HIV incidence, which could be a game changer for the disease.”
Overall, GILD ranks 6th on our list of top stocks Wall Street is discussing. While we acknowledge the potential of GILD, our conviction lies in the belief that under the radar AI stocks hold greater promise for delivering higher returns, and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than GILD but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
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Disclosure: None. This article is originally published at Insider Monkey.
