Leerink Partners analyst Andrew Berens has maintained their bullish stance on AZN stock, giving a Buy rating on August 29.
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Andrew Berens has given his Buy rating due to a combination of factors surrounding AstraZeneca’s recent clinical trial results and strategic positioning. The Phase 3 BaxHTN trial demonstrated significant efficacy of baxdrostat, an aldosterone synthase inhibitor, in reducing systolic blood pressure among patients with uncontrolled or resistant hypertension. The trial’s positive outcomes, presented at the European Society of Cardiology meeting, underscore the potential of baxdrostat to become a blockbuster treatment in the hypertension market.
Additionally, AstraZeneca’s baxdrostat offers advantages over competitors, such as a longer half-life and unaffected bioavailability by gut acidity, which enhances its therapeutic profile. These differentiators, coupled with the company’s plans to submit regulatory data by the end of 2025 and a projected US launch in 2026, bolster confidence in its market potential. The increased probability of success and projected revenue growth further support the Buy rating, reflecting AstraZeneca’s promising outlook in the hypertension treatment landscape.
In another report released on August 29, TD Cowen also maintained a Buy rating on the stock with a $95.00 price target.