AstraZeneca (AZN): PT Rises To $36 After Bullish Survey - Leerink
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Leerink Partners analyst, Seamus Fernandez, reiterated his Market Perform rating on shares of AstraZeneca (NYSE: AZN) and raised his price target to $36 from $33 after conducting a survey of 51 oncologists which highlighted a major market opportunity for Imfinzi (durvalumab; anti-PD-L1) in
Stage III non-small cell lung cancer (NSCLC).
The analyst stated "we are raising our peak WW sales estimates for the agent by $1.5B (from $2.3B to $3.8B in 2026)". "We continue to see opportunity for reductions in OpEx as potential upside drivers, but so far see no evidence that mgmt. plans to shift toward a specialty-focused portfolio focused on delivering sustained R&D productivity with near-term earnings leverage".
Shares of AstraZeneca closed at $35.08 yesterday.
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