Goldman Sachs analyst Rajan Sharma has reiterated their bullish stance on AZN stock, giving a Buy rating today.
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Rajan Sharma’s rating is based on AstraZeneca’s recent positive outcomes from the TROPION-Breast02 trial, which he believes will bolster confidence in the potential of the Datroway drug. Although the drug in question represents a smaller market opportunity, AstraZeneca has a series of upcoming catalysts that are expected to underscore its innovation-driven growth strategy.
Additionally, the company’s ability to navigate the challenges posed by the risk of losing exclusivity in the pharmaceutical sector further supports Sharma’s optimistic outlook. These factors, combined with AstraZeneca’s position on the Conviction List, contribute to the Buy rating assigned by Sharma.
In another report released today, Bernstein also maintained a Buy rating on the stock with a £180.00 price target.
Based on the recent corporate insider activity of 11 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of AZN in relation to earlier this year.