Bank of America Securities analyst Sachin Jain maintained a Buy rating on AstraZeneca (AZN – Research Report) today and set a price target of p14,500.00.
Sachin Jain has given his Buy rating due to a combination of factors related to AstraZeneca’s promising developments in its oncology pipeline. The company has shown strong data from its SERENA-6 trial for Camizestrant, which indicates a favorable efficacy and safety profile compared to previous treatments. This is particularly significant in the context of breast cancer therapies, where AstraZeneca’s approach could potentially offer better outcomes for patients.
Additionally, AstraZeneca’s Enhertu has demonstrated impressive results in the DB09 trial, showing potential superiority over existing standards of care in HER2-positive breast cancer. The company’s strategic focus on innovative treatments, such as Truqap and Datopotamab, further supports the positive outlook. These advancements, coupled with a robust pipeline and strategic positioning, underpin Sachin Jain’s confidence in AstraZeneca’s growth potential, justifying the Buy rating.
In another report released on April 3, Bernstein also maintained a Buy rating on the stock with a £190.00 price target.