Analyst Peter Welford said that Astrazeneca's R&D assets outside the oncology pipeline can offer 'significant upside optionality.'
AstraZeneca has a robust pipeline of therapies beyond oncology that investors shouldn't ignore, according to Jefferies. Analyst Peter Welford upgraded the stock to buy from hold. He also increased his price target on U.S.-listed shares to $80 from $66.50, suggesting nearly 18% upside potentially from Friday's closing price of $67.83.
The firm also suggests up to $3.5 billion in sales for AstraZeneca's eplontersen , a drug aimed at treating hereditary transthyretin-mediated amyloid polyneuropathy. The pharmaceutical giant is also poised to be the frontrunner in breast cancer treatments. AstraZeneca's Enhertu therapy, which it is jointly developing with Japan's Daiichi Sankyo, is "rapidly becoming a breast cancer standard-of-care" and on track to reach $14 billion in sales, according to Jefferies.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Boeing slashed to Hold on wider expected losses: 4 big analyst cuts By Investing.comBoeing slashed to Hold on wider expected losses: 4 big analyst cuts
Read more »
Ex-Trump aide claims Peter Navarro was 'seen as a liability' by White House'To put it as politely as I can: he was 'strategically' left off of calendar invites,' Alyssa Farah Griffin said on Friday.
Read more »
New Ranger Nick Bonino glad to be reunited with Peter LavioletteFor a minute or two, Nick Bonino experienced some déjà vu all over again.
Read more »
Top Wall Street analysts are bullish on these dividend stocksTipRanks’ analyst ranking service pinpoints Wall Street’s best-performing stocks, including Chevron and Broadcom.
Read more »
Watch: Famous Musicians Including Billy Eilish, Sheryl Crow, Peter Grabiel Push Gun Control CampaignBillie Eilish, Sheryl Crow, Niles Rogers, Bootsy Collins, and other famous musicians released a video under the banner of 'Artist for Action to Prevent Gun Violence.'
Read more »
Why Peter Dinklage Was the Perfect Choice for 'The Toxic Avenger' RemakeJacob Tremblay and Kevin Bacon are also a part of the film's cast.
Read more »