AstraZeneca: UBS says fourth quarter is 'a real miss'

(CercleFinance.com) - AstraZeneca's fourth-quarter results were "a real miss," UBS analysts said on Friday, noting low quality on the top-line as well as a "significant" miss at the EBIT level.


The drugmaker's core operating profit was 11% below consensus and core EPS of 0.89 dollar fell short of analysts' estimates by 7%, the broker pointed out in a reaction note.

Among the most noteworthy areas in the results, UBS noted that asthma drug Fasenra missed by 10% and that oncology also disappointed - by 5% this time, with weakness across all products.

2020 EPS guidance is also 4%-6% below consensus, including some coronavirus caution, analysts wrote.

UBS has a "sell" rating on AstraZeneca shares, with 12-month price target of 5,800 pence.

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