Analyst Sachin Jain from Bank of America Securities maintained a Buy rating on AstraZeneca (AZN – Research Report) and keeping the price target at p14,500.00.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Sachin Jain has given his Buy rating due to a combination of factors that highlight AstraZeneca’s potential for growth. One of the primary reasons is the positive risk-reward scenario associated with the company’s drug portfolio, particularly the potential upside from the AVANZAR program. Despite some concerns about safety and response rates in recent data, the existing forecasts for AstraZeneca are largely supported by the performance of other drugs in their pipeline, such as those for breast cancer and TL01 indications.
Additionally, there is cautiously optimistic feedback from key opinion leaders regarding the potential of AstraZeneca’s drugs in first-line lung cancer treatment. This optimism is based on the moderately positive early-phase data and the belief that first-line lung cancer may be more responsive to chemotherapy. Furthermore, the company’s updated statistical plans, which exclude certain patient groups, are seen as increasing the probability of success. These factors collectively contribute to Sachin Jain’s Buy rating for AstraZeneca’s stock.
According to TipRanks, Jain is ranked #2474 out of 9400 analysts.
In another report released on February 26, Goldman Sachs also maintained a Buy rating on the stock with a p15,067.00 price target.