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AstraZeneca ( (GB:AZN) ) has provided an update.
AstraZeneca’s Koselugo (selumetinib), an oral MEK inhibitor, has been recommended for approval by the CHMP in the European Union for treating symptomatic, inoperable plexiform neurofibromas in adults with neurofibromatosis type 1. This recommendation is based on the KOMET Phase III trial, which demonstrated a 20% objective response rate in tumor size reduction, highlighting the urgent need for targeted treatments in this patient population. The approval would extend Koselugo’s reach, building on its established use in pediatric patients and its recent approval in Japan and other countries, potentially offering a new treatment option for adults and enhancing AstraZeneca’s position in the rare disease market.
The most recent analyst rating on (GB:AZN) stock is a Buy with a £140.00 price target. To see the full list of analyst forecasts on AstraZeneca stock, see the GB:AZN Stock Forecast page.
Spark’s Take on GB:AZN Stock
According to Spark, TipRanks’ AI Analyst, GB:AZN is a Outperform.
AstraZeneca’s strong financial performance and positive earnings call are the most significant factors contributing to its score. The technical analysis indicates a potential overbought condition, and the valuation suggests the stock is relatively expensive. Despite these concerns, the company’s robust pipeline and strategic initiatives support a positive outlook.
To see Spark’s full report on GB:AZN stock, click here.
More about AstraZeneca
AstraZeneca is a global, science-led biopharmaceutical company based in Cambridge, UK, focusing on the discovery, development, and commercialization of prescription medicines in areas such as Oncology, Rare Diseases, and BioPharmaceuticals, including Cardiovascular, Renal & Metabolism, and Respiratory & Immunology. Its innovative medicines are sold in more than 125 countries and used by millions of patients worldwide.
Average Trading Volume: 2,300,496
Technical Sentiment Signal: Strong Buy
Current Market Cap: £175.2B
See more data about AZN stock on TipRanks’ Stock Analysis page.