AstraZeneca, the Healthcare sector company, was revisited by a Wall Street analyst on August 29. Analyst Steve Scala from TD Cowen maintained a Buy rating on the stock and has a p14,860.00 price target.
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Steve Scala has given his Buy rating due to a combination of factors that highlight AstraZeneca’s promising developments and strategic positioning. One of the key reasons is the potential of baxdrostat, a drug in development for treating uncontrolled or treatment-resistant hypertension. The upcoming presentation of Phase III data at the ESC 2025 is anticipated to demonstrate significant efficacy, with expectations of a notable improvement in blood pressure reduction. This could lead to substantial market penetration, as surveyed physicians estimate that 27% of hypertension patients might use baxdrostat within five years if approved.
Additionally, AstraZeneca’s confidence in baxdrostat’s competitive profile among aldosterone synthase inhibitors is supported by its longer half-life, which could provide a therapeutic advantage. The ongoing BAX-24 trial is expected to further affirm baxdrostat’s efficacy and safety, with results anticipated by the end of 2025. These factors, combined with AstraZeneca’s strategic updates and financial measures, contribute to Scala’s positive outlook and Buy rating for the company’s stock.
Scala covers the Healthcare sector, focusing on stocks such as Eli Lilly & Co, AstraZeneca, and Merck & Company. According to TipRanks, Scala has an average return of 7.9% and a 60.73% success rate on recommended stocks.