Leerink Partners analyst Andrew Berens has maintained their bullish stance on AZN stock, giving a Buy rating on February 10.
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Andrew Berens has given his Buy rating due to a combination of factors influencing AstraZeneca’s strategic position and market potential. The acquisition of FibroGen China by AstraZeneca is pivotal, allowing the company to secure full ownership of roxadustat in China, a significant market where the drug holds a leading position with an approximately 45% share in the branded ESA+ HIF segment. This move not only consolidates AstraZeneca’s market dominance in China but also aligns with the company’s global expansion strategy.
Furthermore, the deal is expected to provide AstraZeneca with a substantial revenue stream, despite anticipated sales declines due to expected regulatory changes in 2025. The broader approval of roxadustat in over 40 countries, excluding the U.S., positions AstraZeneca to leverage its international presence and optimize its portfolio. These strategic initiatives underscore AstraZeneca’s commitment to strengthening its market leadership and maximizing shareholder value, factors that contribute to Berens’s Buy rating.
In another report released on February 10, Goldman Sachs also maintained a Buy rating on the stock with a $97.00 price target.
AZN’s price has also changed moderately for the past six months – from $85.130 to $74.560, which is a -12.42% drop .