Leerink Partners analyst Andrew Berens has reiterated their bullish stance on AZN stock, giving a Buy rating on July 29.
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Andrew Berens has given his Buy rating due to a combination of factors, primarily driven by AstraZeneca’s strong performance in the oncology sector. The company’s second-quarter financial results exceeded expectations, with total product sales surpassing both consensus and Leerink Partners’ estimates. This was largely attributed to the robust sales in the oncology segment, where several key products, including Enhertu and Truqap, outperformed market expectations.
Additionally, AstraZeneca’s core earnings per share (EPS) aligned with market predictions, and the company maintained a solid gross margin. Despite some mixed results in non-oncology products, the overall financial health and future guidance of AstraZeneca remain positive. The reaffirmation of their fiscal year guidance for revenue and EPS growth, along with recent regulatory advancements and upcoming trial readouts, further supports the optimistic outlook for the company’s stock.
AZN’s price has also changed slightly for the past six months – from $70.250 to $73.980, which is a 5.31% increase.