Astellas Pharma, the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Miki Sogi from Bernstein downgraded the rating on the stock to a Hold and gave it a Yen1,600.00 price target.
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Miki Sogi has given his Hold rating due to a combination of factors affecting Astellas Pharma’s growth prospects. The company is attempting to mitigate the anticipated decline of Xtandi by focusing on new products like Izervay, Padcev, and Veozah. However, these products are not expected to drive significant growth due to various challenges.
Izervay’s market expansion is hindered by its inability to improve vision, despite slowing disease progression, which affects physician adoption and patient adherence. Padcev’s growth is limited by its toxicity, leading to shorter treatment durations, and potential price pressure in the EU. Additionally, Veozah faces challenges from liver toxicity concerns and competition from Bayer’s upcoming product, elinzanetant. Consequently, the current stock price reflects these balanced risks and rewards, justifying the Hold rating.
According to TipRanks, Sogi is ranked #6073 out of 9952 analysts.