The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksAstrazeneca Share News (AZN)

Share Price Information for Astrazeneca (AZN)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 12,276.00
Bid: 12,276.00
Ask: 12,280.00
Change: -128.00 (-1.03%)
Spread: 4.00 (0.033%)
Open: 12,334.00
High: 12,362.00
Low: 12,270.00
Prev. Close: 12,404.00
AZN Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

HSBC lifts AstraZeneca target price on haematological cancer forecasts

Mon, 04th Jan 2016 13:01

(ShareCast News) - HSBC has hiked its target price for AstraZeneca shares after the pharmaceutical giant's acquisition of cancer specialist Acerta Pharma a week before Christmas.AstraZeneca revealed it had agreed to acquire a 55% stake in privately-owned Acerta for $2.5bn, with another $1.5bn due upon approval by the US of the take-over target's lead cancer drug acalabrutinib or by end-2018, whichever was soonest.With Acerta's owners having the option to sell the remaining stake to the FTSE 100 company for $3bn, the broker said it assumed this would occur in 2018, as it saw no rationale for the option to be exercised sooner rather than later.Acalabrutinib, aka ACP-196, could prove to be "best-in-class" monotherapy, the bank said.Phase II clinical data and ongoing phase III trials also meant that acalabrutinib was likely to be very competitive versus Johnson & Johnson and AbbVie's Imbruvica, currently the only drug on the market that inhibits the BTK enzyme and can treat haematological cancers.Shift towards combination therapies justifies price tagAstraZeneca has already signed a wide-ranging collaboration with Celgene to jointly develop immuno-oncology treatments for haematological cancers.Hence, "were the standard of care in some haematological cancers to move to the combination of a BTK inhibitor (such as acalabrutinib) and an anti-PDL1 (such as AstraZeneca's durvalumab), then by acquiring Acerta, AstraZeneca would gain two thirds of the overall economics of the combination (versus 30-50% of durvalumab monotherapy)," the analysts wrote."In our view, that helps justify the potential $7bn price tag for acquiring a company whose main asset has not yet been approved, not even completed phase III development."Despite including revenues from this and other recent acquisitions, 2023 revenue forecasts of circa $37bn were still around $8bn shy of AstraZeneca's 2023 target announced during the failed Pfizer bid process, the analysts noted, though this was increasingly likely to be seen as an aspirational target that diminishes in relevance through time.AZN's target price was lifted to 4,910p from the previous 4,770p, with a 'buy' rating reiterated.
More News
3 May 2024 11:50

Angle shares up on assay development deal with AstraZenaca

(Alliance News) - Shares in Angle PLC jumped on Friday, after the company said it has been chosen to develop a prostate cancer assay using its Parsortix technology, opening the door for future clinical study-supporting contracts.

Read more
3 May 2024 07:50

LONDON BRIEFING: InterContinental Hotels makes first-quarter progress

(Alliance News) - London's FTSE 100 is called to open higher on Friday, on the expectation of a softer US jobs report, which could take some sting out of hawkish Federal Reserve interest rate expectations.

Read more
2 May 2024 10:04

AstraZeneca notes positive trial results for Calquence treatment

(Alliance News) - AstraZeneca PLC on Thursday said it observed positive high-level results in the Echo phase 3 trial of its Calquence treatment for previously untreated adult patients with mantle cell lymphoma.

Read more
2 May 2024 07:45

AstraZeneca reports positive results from blood cancer drug trial

(Sharecast News) - AstraZeneca has reported positive results from the use of its Calquence drug in a clinical trial to treat a rare type of blood cancer.

Read more
29 Apr 2024 22:52

J&J, Bristol Myers lose challenges to US drug price negotiation program

April 29 (Reuters) - A U.S. judge on Monday rejected a challenge by Bristol Myers Squibb and Johnson & Johnson to a law requiring them to negotiate the prices of their blockbuster blood clot prevention drugs with the U.S government's Medicare health insurance program or pay heavy penalties.

Read more
29 Apr 2024 10:02

LONDON BROKER RATINGS: Deutsche Bank likes Frasers; Barclays cuts JD

(Alliance News) - The following London-listed shares received analyst recommendations Monday morning and Friday:

Read more
29 Apr 2024 09:13

AstraZeneca makes progress with Truqap and Enhertu cancer treatments

(Alliance News) - AstraZeneca PLC on Monday said its Truqap drug has been recommended for approval in the EU to treat a form of breast cancer, while also noting trial results for its Enhertu offering.

Read more
29 Apr 2024 07:50

LONDON BRIEFING: Hipgnosis Songs Fund backs new Blackstone bid

(Alliance News) - London's FTSE 100 is called to open higher on Monday, with heady gains for US tech stocks on Friday brightening the mood in Europe and Asia at the start of the new week.

Read more
29 Apr 2024 07:24

AstraZeneca makes progress with two breast cancer treatments

(Sharecast News) - AstraZeneca issued favourable updates on two of its breast cancer treatments on Monday - 'Truqap', or capivasertib, and 'Enhertu', or trastuzumab deruxtecan - following encouraging results from respective phase three trials.

Read more
26 Apr 2024 09:33

LONDON BROKER RATINGS: Peel Hunt cuts ConvaTec to 'reduce'

(Alliance News) - The following London-listed shares received analyst recommendations Friday morning:

Read more
25 Apr 2024 16:57

LONDON MARKET CLOSE: FTSE 100 shakes off red-hot US inflation gauge

(Alliance News) - London's FTSE 100 outperformed on Thursday, enjoying a solid rise on largely well-received corporate earnings and a share price jump for miner Anglo American after it received a takeover bid from peer BHP.

Read more
25 Apr 2024 15:14

London close: Stocks finish mixed as US GDP growth slows

(Sharecast News) - London's stock markets finished with a mixed performance on Thursday, as investors digested a slower-than-expected GDP growth reading from the United States, while a slew of well-received earnings underpinned the top-flight index.

Read more
25 Apr 2024 11:50

LONDON MARKET MIDDAY: FTSE 100 hits high on offer for Anglo American

(Alliance News) - The FTSE 100 was outperforming European markets at midday on Thursday, with the index boosted to a record high thanks to takeover talks.

Read more
25 Apr 2024 10:33

AstraZeneca leaps after smashing first-quarter forecasts

Q1 revenue up 19% to $12.68 bln

*

Read more
25 Apr 2024 09:18

TOP NEWS: AstraZeneca upbeat as cancer drugs underpin sales growth

(Alliance News) - AstraZeneca PLC on Thursday hailed the potential of its drugs pipeline as it delivered impressive growth in sales and profit in the first quarter.

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.