Top Stock Picks for 2024: Gilead Sciences

GILD has outperformed on the charts but is still massively underrated by analysts

Tony Venosa

CMT, Senior Market Strategist

Jan 11, 2024 at 1:03 PM

GILD

Every day for the next three weeks, we're going to highlight one of Schaeffer's top 12 picks for 2024. For today, we have pharma stock Gilead Sciences, Inc. (NASDAQ:GILD). To access the entirety of the 2024 report, click here.

The shares of pharma giant Gilead Sciences (GILD) broke out of a major basing pattern back in late 2022, which had begun forming in 2017. The equity also crossed above the round-number $100 billion market cap in December, following a year-long pullback to the rising 20-month moving average. This moving average is at the site of the stock' s 2020 peak, too.

With all this potential in place, GILD could make a move back up to it's 2015 highs within the coming calendar year. Even further, analyst sentiment could be improved upon, considering nine of the 19 covering brokerage firms still sport a tepid " hold" recommendation.

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