2 Pharma Stocks Moving in Different Directions Today

Gilead and Jazz stocks are making moves based off recent drug pipeline updates

Managing Editor
Jun 20, 2024 at 1:43 PM
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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. 

 

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