Astrazeneca Share Price (AZN)

… & kicked out that trading slice yet again.

nice back and forth on this share over time.

UBS research on Tuesday downgraded AstraZeneca (NASDAQ:AZN) stock to neutral from buy, citing no major catalysts on their radar for the Anglo-Swedish drug giant until Q1 next year.

U.S.-listed shares of AZN were down 1.3% at $59.22 in mid-day trading amidst mixed broader markets.

"On the back of impressive trial results for (cancer drugs) Lynparza and Enhertu, AZN has outperformed the global large cap peer group by 120bps this year," said UBS analysts Michael Leuchten, Laura Sutcliffe and Colin White.

However, the stock is now in more "sensible territory," the analysts said, adding that the rest of the year would be more about commercial execution.

"In times of reduced pipeline noise, the market tends to focus more on AZN's margin progression and we suspect this time it will be no different with some additional debate around the trajectory in China," they said.

UBS said now that major trial readouts for the year were done, the focus would return to the performance of Lynparza, along with other cancer drugs Tagrisso and Calquence.

Calquence, Lynparza and Tagrisso brought in total revenue of $414M, $792M and $1.30B, respectively, for AZN in Q1.

The UBS analysts also said that they see little potential for Alexion to deliver any meaningful upside. AZN completed its acquisition of U.S.-based Alexion in July last year.

Up to Monday's close, AZN stock +3% YTD.

I have held this share for ages, and these fluctuations are a great opportunity to build up on one’s Share holding. I imagine that AZN will be back to well over the 100’s again this week, thereby allowing the punters a nice little bonus.

Yes waiting to buy some more !

lol, the curse of driftking has struck! … circa 7% down
since his call that AZN is overvalued. small top-up for
me, thanks mr market, but maybe still further to fall?