Gilead Sciences Inc. (NASDAQ:GILD) is one of the undervalued S&P 500 stocks to buy according to hedge funds. On June 25, Gilead Sciences expanded its oncology pipeline through an exclusive agreement with Kymera Therapeutics Inc.

Gilead Sciences has entered into an option and license deal with Kymera Therapeutics to support the development and sales of a class of cancer drugs, the companies said on Wednesday.

Kymera Therapeutics, Inc.'s stock rose on KT-621 data, but Sanofi's exit casts doubts. A Gilead Sciences, Inc. deal offers hope. Click for my GILD and KYMR update.