AstraZeneca's DATROWAY Receives FDA Priority Review for TNBC
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Feb 21 2024
0mins
Should l Buy AZN?
Source: NASDAQ.COM
AstraZeneca PLC's stock rose 3.06% and reached a 52-week high amid positive market conditions, with the Nasdaq-100 up 1.64% and the S&P 500 up 1.48%.
The FDA has granted priority review for AstraZeneca's DATROWAY, which showed a significant 5-month improvement in median overall survival for TNBC patients in the TROPION-Breast02 trial. This approval could set a new standard of care and is part of a global collaboration with Daiichi Sankyo, enhancing AstraZeneca's market position in oncology.
The implications of this approval are substantial, as it not only strengthens AstraZeneca's portfolio in cancer therapies but also positions the company favorably for future growth in a competitive market, particularly if DATROWAY gains approval for broader indications.
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Analyst Views on AZN
Wall Street analysts forecast AZN stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for AZN is 102.75 USD with a low forecast of 95.00 USD and a high forecast of 108.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
5 Analyst Rating
5 Buy
0 Hold
0 Sell
Strong Buy
Current: 187.160
Low
95.00
Averages
102.75
High
108.00
Current: 187.160
Low
95.00
Averages
102.75
High
108.00
About AZN
AstraZeneca PLC is a United Kingdom-based science-led biopharmaceutical company. The Company focuses on the discovery, development, and commercialization of prescription medicines. The Company operates across therapy areas, including Oncology; Cardiovascular, Renal and Metabolism (CVRM); Respiratory and Immunology (R&I); Vaccines and Immune Therapies (V&I), and Rare Disease. In the Oncology area, its key products include Tagrisso, Imfinzi, Calquence, Lynparza, and Enhertu. The key products of CVRM area include Farxiga/Forxiga, Brilinta/Brilique, Crestor, and Lokelma. In the R&I area, the key products are Symbicort, Fasenra, Breztri/Trixeo, and Tezspire. In the V&I Therapies area, the products are Beyfortus and FluMist. The products in the Rare Disease area are Ultomiris, Soliris, Strensiq, and Koselugo. It has about 191 projects in its development pipeline, including 19 new molecular entities (NMEs) in the late-stage pipeline. The Company distributes its products in over 125 countries.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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