AstraZeneca: Credit Suisse confirms rating
(CercleFinance.com) - The company announced positive top-line results from a planned interim analysis of its phase 3 PROpel trial in metastatic castration-resistant prostate cancer (mCRPC).
"We raise our Lynparza forecasts with peak sales in prostate cancer increasing from $500m to $1.5bn. We assume 90% probability of approval in the PROpel setting".
Credit Suisse reinstates its Outperform rating on the share with a target price of 9,000p.
"Based on company core EPS, AZN trades on a 2022e P/E of 16.8x, a 17% premium to European Major peers on 15.7x," the analyst added.
Note that Lynparza is partnered with Merck on a 50/50 profit-sharing basis.
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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.
"We raise our Lynparza forecasts with peak sales in prostate cancer increasing from $500m to $1.5bn. We assume 90% probability of approval in the PROpel setting".
Credit Suisse reinstates its Outperform rating on the share with a target price of 9,000p.
"Based on company core EPS, AZN trades on a 2022e P/E of 16.8x, a 17% premium to European Major peers on 15.7x," the analyst added.
Note that Lynparza is partnered with Merck on a 50/50 profit-sharing basis.
Copyright (c) 2021 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.