Leerink Partners analyst Andrew Berens maintained a Buy rating on AstraZeneca on July 14 and set a price target of $85.00.
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Andrew Berens’s rating is based on AstraZeneca’s recent positive developments in their hypertension treatment pipeline. The company’s announcement that baxdrostat, an aldosterone synthase inhibitor, met all primary and secondary endpoints in the Phase 3 BaxHTN trial is a significant factor. This trial demonstrated a meaningful reduction in systolic blood pressure for patients with uncontrolled and resistant hypertension, a market where nearly half of the patients in the US do not achieve blood pressure control despite using multiple medications.
Furthermore, baxdrostat’s safety profile appears favorable, as it was generally well tolerated in combination with other antihypertensives. Its longer half-life compared to competitors may offer more robust efficacy, potentially establishing it as a best-in-class treatment. The upcoming data from the Bax24 trial and its evaluation in combination with dapagliflozin for patients with chronic kidney disease and high blood pressure could further enhance its market potential, supporting the Buy rating.
AZN’s price has also changed slightly for the past six months – from $65.370 to $71.740, which is a 9.74% increase.