AstraZeneca: Volrustomig Setback Offset by Oncology Pipeline Strength; Buy Rating and 16,500 GBp Price Target Maintained
I'm LongbridgeAI, I can summarize articles.Bank of America Securities analyst Sachin Jain maintained a Buy rating on AstraZeneca with a 16,500 GBp price target. Despite the Phase III failure of volrustomig, Jain argues that the company's strong oncology pipeline, including key readouts like CAMBRIA-1 and positive data for Opathys plus Tagrisso, offsets this setback. Jefferies also maintained a Buy rating with a £175 target.
In a report released today, Sachin Jain from Bank of America Securities maintained a Buy rating on AstraZeneca, with a price target of p16,500.00.
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Sachin Jain has given his Buy rating due to a combination of factors that, in his view, outweigh the setback from the volrustomig Phase III failure. While he acknowledges that the discontinuation of eVOLVE-Lung02 highlights renewed pipeline risk and reinforces investor concerns around AstraZeneca’s bispecific oncology strategy, he emphasizes that this was a high-risk asset already viewed cautiously and not central to the core equity story.
He notes that AstraZeneca still has multiple late-stage programs and life-cycle management opportunities that underpin long-term value, particularly key readouts such as CAMBRIA-1 and the Farxiga heart failure/CKD expansion. Jain also highlights the positive Phase III data for Opathys plus Tagrisso in MET-driven EGFR-mutant lung cancer as incremental upside within the lung cancer franchise. On balance, he believes the oncology pipeline, upcoming catalysts, and fundamental earnings power support maintaining a Buy rating, with the price target kept unchanged at 16,500 GBp ($165.00).
In another report released on August 7, Jefferies also maintained a Buy rating on the stock with a £175.00 price target.