Jefferies analyst Michael Leuchten maintained a Buy rating on AstraZeneca today and set a price target of p18,000.00.
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Michael Leuchten has given his Buy rating due to a combination of factors that, in his view, outweigh the setback from the ODAC vote on camizestrant in the SERENA-6 trial. He notes that this indication represents only a minor portion of AstraZeneca’s ambitious 2030 sales objective of about $80bn, so the regulatory headwind should have limited financial impact beyond a possible short-term sentiment drag.
At the same time, he remains constructive on the broader camizestrant franchise, highlighting stronger statistical power and trial design versus Roche’s giredestrant, which supports confidence in upcoming studies such as SERENA-4 and the large early breast cancer programs CAMBRIA-1 and CAMBRIA-2. Management’s view that camizestrant can generate over $5bn in peak sales, particularly in early breast cancer with broad patient reach, underpins his positive stance, and the unchanged price target of 18,000p implies material upside from current levels.
In another report released today, Citi also maintained a Buy rating on the stock with a $0.00 price target.