Bank of America Securities analyst Sachin Jain has maintained their bullish stance on AZN stock, giving a Buy rating today.
Sachin Jain has given his Buy rating due to a combination of factors including AstraZeneca’s strong pipeline developments and strategic positioning in the lung cancer treatment market. The company is optimistic about the upcoming approval of Dato TROPION-Lung01 for EGFRm, which is expected in July, and is confident in its broader second-line strategy that includes Latify and Savolitinib.
Additionally, AstraZeneca’s confidence is bolstered by the forthcoming AVANZAR data for Datopotamab, which is anticipated to show significant promise in first-line lung cancer treatment. The company’s bispecific strategy, targeting different PDL1 statuses with assets like Volrustomig and Rilvegostomig, demonstrates a comprehensive approach to addressing various patient needs. These developments, along with manageable safety profiles and encouraging efficacy data, underpin Sachin Jain’s positive outlook on AstraZeneca’s stock.
According to TipRanks, Jain is a 3-star analyst with an average return of 2.0% and a 52.03% success rate.
In another report released today, J.P. Morgan also maintained a Buy rating on the stock with a £140.00 price target.