We recently published 10 Stocks with Eye-Popping Gains; 5 Jump to New Highs. Gilead Sciences, Inc. (NASDAQ:GILD) is one of the best-performing stocks on Friday. Gilead Sciences jumped to a new all-time high on Friday as investors cheered its impressive earnings performance in the second quarter of the year,

Now, let’s get to the juicy part. In a dataset that goes back to January 2019, the 4-6-U sequence has flashed 13 times on a rolling basis. On any given week, the chance that a long position in GILD stock will rise is 53.04%, a modest upside bias. This is effectively our null hypothesis, the assumption of no mispricing.

Gilead Sciences ( NASDAQ: GILD) was upgraded to Buy from Hold at Truist after the company raised full year sales and profit outlook, and reported upbeat Q2 earnings. The California based biotech raised its full year adjusted profit to a range between $7.95 per share and $8.25 per share, as demand for its HIV products showed robust growth.