Analyst Steve Scala of TD Cowen maintained a Buy rating on AstraZeneca, with a price target of $95.00.
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.
Steve Scala has given his Buy rating due to a combination of factors related to AstraZeneca’s promising developments in the treatment of hypertension. The upcoming presentation of Phase III data for baxdrostat at the ESC 2025 is a significant event, as the drug has shown potential in addressing uncontrolled or treatment-resistant hypertension. If the results mirror the 11 mmHg improvement seen in Phase II trials, it could lead to widespread adoption, with an estimated 27% of hypertension patients potentially using baxdrostat within five years.
Additionally, Scala’s analysis considers AstraZeneca’s strategic positioning and recent updates to their financial model following the second quarter and other recent developments. The anticipation of positive trial outcomes, coupled with AstraZeneca’s proactive engagement with key opinion leaders and stakeholders, supports the Buy rating as the company is poised to make a substantial impact in the hypertension market.
According to TipRanks, Scala is a 4-star analyst with an average return of 7.9% and a 60.73% success rate. Scala covers the Healthcare sector, focusing on stocks such as Eli Lilly & Co, AstraZeneca, and Merck & Company.
In another report released on August 19, TR | OpenAI – 4o also reiterated a Buy rating on the stock with a $84.00 price target.