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Gilead (GILD) shelves blood pressure drug

GILD logoGilead Sciences (GILD - option chain) stock is trading lower today after the company announced last night that its hypertension treatment darusentan missed the primary goal of a Phase III trial. As a result, GILD says it has ended development of the drug in favor of spending resources on other products in its pipeline. If you think this stock won't be rising too far in the coming months, then it could be a good time to look at a bearish hedged play on GILD.

This morning, GILD opened at $45.90. So far today the stock has hit a high of $46.28 and a low of $45.01. As of 12:15, GILD is trading at $45.18, down $1.78 (-3.8%). The chart for GILD looks bullish and S&P gives GILD a positive 5 STARS (out of 5) strong buy ranking.

Continue reading Gilead (GILD) shelves blood pressure drug

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Last updated: May 28, 2012: 03:55 PM

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