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Gilead Sciences: COVID-19 Tops Disappointing Results

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Gilead Sciences rallied on potential COVID-19 treatment.
The plan to remove stock-based compensation from non-GAAP EPS guidance provides a headwind in 2020.
Due to a disappointing turnaround, the stock is a sell on any major rally based on the COVID-19 treatment.
The ability of Gilead Sciences (GILD) to make a run at new highs must speak to bullishness surrounding the coronavirus because the biopharma is struggling to complete the expected turnaround. In addition, new management made the unwise decision to remove stock-based compensation from non-GAAP results going forward causing a headwind for EPS estimates. When combined with disappointing growth prospects for 2020, investors are probably lucky the stock is at yearly highs above $70 versus the yearly lows at $60.
Read the full article on Seeking Alpha. 

Disclosure: Long GILD. Please review the disclaimer page for more details. 

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