AstraZeneca’s Promising Outlook: Buy Rating Backed by Positive DESTINY-Breast09 Trial Results and 35.5% Upside Potential

Analyst Rajan Sharma from Goldman Sachs maintained a Buy rating on AstraZeneca (AZN – Research Report) and increased the price target to p14,524.00 from p14,482.00.

Rajan Sharma has given his Buy rating due to a combination of factors that highlight AstraZeneca’s promising outlook. The recent data from the DESTINY-Breast09 trial showed significant progression-free survival (PFS) benefits for the Enhertu plus pertuzumab combination, with a median PFS of 40.7 months compared to 26.9 months with the THP regimen. This result exceeded expectations and demonstrated a strong potential for improved patient outcomes.
Additionally, the trial data indicated early signs of clinically meaningful PFS2 benefits, which are often predictive of overall survival improvements. The safety profile of the treatment was consistent with previous findings, with manageable adverse events. These positive clinical results, combined with a substantial upside potential of 35.5% to the 12-month price target, underpin Sharma’s optimistic view on AstraZeneca’s stock performance.

In another report released on June 3, UBS also maintained a Buy rating on the stock with a p14,200.00 price target.

AZN’s price has also changed slightly for the past six months – from p10554.000 to p10574.000, which is a 0.19% increase.