Market's view on Astrazeneca
Published on April 2024
- AstraZeneca has become Britain’s most valuable company, surpassing Shell.
- Deutsche Bank has upgraded AstraZeneca’s stock recommendation to ‘hold’ with a new price target of 10,500 pence, while Barclays has increased its price target to 13,000 pence.
- There is a significant shareholder discontent regarding the £19m pay deal for AstraZeneca’s CEO, with over a third of shareholders voting against it.
- AstraZeneca is presenting long-term data on its Ultomiris and Soliris antibodies at the American Academy of Neurology meeting, highlighting their role in treating rare neurological diseases.
- JP Morgan has reiterated a positive outlook for AstraZeneca, anticipating top-line acceleration and margin expansion in upcoming quarterly results. They have placed AstraZeneca shares on Positive Catalyst Watch due to potential positive upcoming catalysts.
- AstraZeneca’s stock price has seen a decline following unexpected news about reduced federal payment rates to Medicare insurers.
- Alliance Pharma has been highlighted for its long-term growth and value creation for shareholders, with a dividend increase and broadened portfolio through acquisition.
- There has been a notable shift of investment towards Alliance Pharma from AstraZeneca, as observed by several transactions and comments.
- AstraZeneca’s acquisition strategy includes a notable purchase of Fusion Pharm for approximately $2bn, paying a significant premium over the market price.