Astrazeneca: Bryan Garnier ups target price.
(CercleFinance.com) - Bryan Garnier has confirmed its "buy" rating on AstraZeneca, while raising its fair value for the stock from 5,750 pence to 5,900 pence, after the pharmaceutical group published positive data on Lynparza last weekend.
A Phase III clinical study indicated a 42% reduction in the risk of the disease worsening or death in patients with metastatic breast cancer treated with Lynparza compared to those who received standard chemotherapy.
“Together with a better safety profile, this forms the basis of a likely sound success for Lynparza in advanced BC which is the second indication for the drug after ovarian and one that should be officially obtained on-label early next year in the US,” the broker said.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
A Phase III clinical study indicated a 42% reduction in the risk of the disease worsening or death in patients with metastatic breast cancer treated with Lynparza compared to those who received standard chemotherapy.
“Together with a better safety profile, this forms the basis of a likely sound success for Lynparza in advanced BC which is the second indication for the drug after ovarian and one that should be officially obtained on-label early next year in the US,” the broker said.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.