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AstraZeneca ( (GB:AZN) ) has issued an update.
AstraZeneca and Daiichi Sankyo’s Enhertu, in combination with pertuzumab, has been approved in the US for the first-line treatment of adult patients with unresectable or metastatic HER2-positive breast cancer. This approval, based on the DESTINY-Breast09 Phase III trial results, marks the first new treatment in over a decade to show a significant improvement in progression-free survival over the current standard regimen. The combination therapy reduced the risk of disease progression or death by 44% and extended median progression-free survival to over three years. This development is expected to set a new standard of care and has significant implications for improving long-term outcomes for patients with HER2-positive metastatic breast cancer.
The most recent analyst rating on (GB:AZN) stock is a Buy with a £160.00 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 driving the score. The company’s strategic expansions and product approvals further enhance its outlook. However, the high valuation and moderate technical indicators slightly temper the overall score.
To see Spark’s full report on GB:AZN stock, click here.
More about AstraZeneca
AstraZeneca is a global, science-led biopharmaceutical company that focuses on the discovery, development, and commercialization of prescription medicines, primarily for the treatment of diseases in the oncology, cardiovascular, renal, and respiratory areas. The company is known for its innovative approach in the pharmaceutical industry, particularly in the development of oncology therapies.
Average Trading Volume: 2,075,742
Technical Sentiment Signal: Buy
Current Market Cap: £208.4B
Learn more about AZN stock on TipRanks’ Stock Analysis page.