Both GILD and JAZZ are lower in 2024 and way off their record highs from 2015
Stocks are all over the place today, with the Dow confidently higher, the Nasdaq choppy, and the S&P 500 contending with a psychologically-significant level. Amidst this choppiness, two pharmaceutical stocks are worth a closer look today; Gilead Sciences, Inc. (NASDAQ:GILD) and Jazz Pharmaceuticals plc (NASDAQ:JAZZ).
GILD is up 9.% to trade at $69.10, on track for its biggest single-session pop since Oct. 2022. The pharma giant reported its long-acted HIV drug lenacapavir showed superior efficacy compared to the Gilead's daily pill Truvada.
While the shares are trading at their highest level since early April, they remain down 15% in 2024, and fell to a two-year low of $62.07 on May 31. Longer term, the equity is nowhere near its 2015 record highs above $122.
JAZZ is down 3.6% to trade at $109.62 at last check, after the company's experimental drug suvecaltamide to treat tremors did not meet the main goal in a mid-stage study. The stock is now down 11% in 2024, and is a ways off its Aug. 31 annual high of $146.70. Similar to Gilead, JAZZ's best days on the charts are in 2015, when the stock traded as high as $186.