AstraZeneca’s Promising Future: Buy Rating Backed by Robust Pipeline and Strong Sales Potential

Analyst Sachin Jain from Bank of America Securities maintained a Buy rating on AstraZeneca (AZN – Research Report) and keeping the price target at p14,500.00.

Sachin Jain has given his Buy rating due to a combination of factors that highlight AstraZeneca’s promising future prospects. The positive phase III data from Mineralys’ aldosterone synthase inhibitor, lorundrostat, in hypertension is seen as a beneficial indicator for AstraZeneca’s own ASI, Baxdrostat. This drug is expected to show significant results in its upcoming phase III trials, with AstraZeneca projecting substantial peak sales, particularly due to its longer half-life and lack of drug-drug interactions.
Furthermore, AstraZeneca’s pipeline is robust, with multiple catalysts anticipated in the next 18 months, including significant opportunities like AVANZAR and SERENA-4. These developments, along with the company’s attractive valuation and expected high-single-digit sales growth, support the Buy rating. The potential for game-changing outcomes in the near future, with a total sales potential of around $30 billion, further strengthens the investment case for AstraZeneca.

In another report released yesterday, Morgan Stanley also maintained a Buy rating on the stock with a p14,500.00 price target.