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☆ With the Nasdaq at record highs, these are the benchmark's most beloved stocks that are expected to rally
▼ + stars: | 2024-03-01 | by ( Pia Singh | ) www.cnbc.com time to read: +3 min

Even as the Nasdaq Composite is surging to new highs, investors can still find stocks within the index that have room to run. These stocks have a consensus buy rating from analysts and have an upside of 20% or more from their average price targets. Analysts have a consensus buy rating on both stocks, and think AstraZeneca could rally more than 26%, while Biogen could jump roughly 40%. Bank of America last month reiterated its buy rating on Baker Hughes. Twenty-two of the 27 analysts polled by LSEG rate the stock a buy or strong buy, and the average price target suggests 35% upside from here.

Persons: Biogen, Wells, Baker Hughes, Saurabh Pant Organizations: Nasdaq, CNBC, Stock, AstraZeneca, Warner Bros, Biotechnology, Biogen, Deutsche Bank, Analysts, Moderna, HSBC, Discovery, Bank of America, CCS, " Bank of America

☆ AstraZeneca to invest $245 mln in Cellectis to boost gene therapy prospects
▼ + stars: | 2023-11-01 | by ( ) www.reuters.com time to read: +1 min

The logo for AstraZeneca is seen outside its North America headquarters in Wilmington, Delaware, U.S., March 22, 2021. Cellectis' gene-editing technology and manufacturing capabilities to design novel cell and gene therapy products will help strengthen AstraZeneca's growing offering in the space, it said. AstraZeneca said that as part of the deal, it will pay Cellectis $105 million by the end of this year. That includes an $80 million equity investment, which will be followed by another $140 million in early 2024, which will give AstraZeneca a stake of about 44% in the French company. The Anglo-Swedish pharma company said it had exclusive rights to 25 genetic targets, of which up to 10 candidate products could be explored for development.

Persons: Rachel Wisniewski, Aby Jose Koilparambil, Savio D'Souza Organizations: AstraZeneca, REUTERS, Swedish pharma, Thomson Locations: North America, Wilmington , Delaware, U.S, Swedish, Bengaluru

☆ AstraZeneca seeks to calm CEO speculation after shares drop
▼ + stars: | 2023-09-11 | by ( Maggie Fick | ) www.reuters.com time to read: +2 min

The company logo for pharmaceutical company AstraZeneca is displayed on a screen on the floor at the New York Stock Exchange, U.S., April 8, 2019. The company initially declined to comment on the Mail on Sunday report, but later issued a statement saying: "We do not comment on market rumours. AstraZeneca shares closed down 3.2% after earlier touching their lowest since July 19. The Times' article focused on the retirement of Mene Pangalos, the long-time biopharmaceuticals head of research at AstraZeneca, which was announced in July. Reporting by Maggie Fick and Samuel Indyk; Editing by Tomasz Janowski and Mark PotterOur Standards: The Thomson Reuters Trust Principles.

Persons: Brendan McDermid, Pascal Soriot, Soriot, Mene Pangalos, Pangalos, Pascal, Maggie Fick, Samuel Indyk, Tomasz Janowski, Mark Potter Organizations: AstraZeneca, New York Stock Exchange, REUTERS, Reuters, Times, Thomson Locations: British

☆ AstraZeneca shares fall 4% to 7-1/2 week low
▼ + stars: | 2023-09-11 | by ( ) www.reuters.com time to read: +1 min

The company logo for pharmaceutical company AstraZeneca is displayed on a screen on the floor at the New York Stock Exchange, U.S., April 8, 2019. REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsCompanies AstraZeneca PLC FollowLONDON, Sept 11 (Reuters) - Shares in London-listed drugmaker AstraZeneca (AZN.L) fell more than 4% on Monday, sliding to their lowest since July 19. An AstraZeneca spokesperson declined to comment on the report. Two of the analysts and the shareholder also mentioned that an article published on Monday in Britain's Times newspaper could have affected the shares, though it appeared to contradict the Mail on Sunday report. The Times' article focused on the retirement of Mene Pangalos, the long-time biopharmaceuticals head of research at AstraZeneca, which was announced in July.

Persons: Brendan McDermid, Pascal Soriot, Mene Pangalos, Pangalos, Pascal, Maggie Fick, Samuel Indyk, Amanda Cooper, Tomasz Janowski Organizations: AstraZeneca, New York Stock Exchange, REUTERS, drugmaker's, Reuters, Britain's Times, Times, Thomson Locations: London

FILE PHOTO: The company logo for pharmaceutical company AstraZeneca is displayed on a screen on the floor at the New York Stock Exchange, U.S., April 8, 2019. The drug price negotiation program is part of President Joe Biden's signature Inflation Reduction Act (IRA). The program faces several other court challenges, including from leading industry groups and other drug companies. ‍AstraZeneca said it was filing a legal challenge in a bid to "protect timely access to medicines for orphan indications" in the United States. Reporting by Bhanvi Satija in Bengaluru; Editing by Dhanya Ann Thoppil and Shilpi MajumdarOur Standards: The Thomson Reuters Trust Principles.

Persons: Brendan McDermid, Joe Biden's, AstraZeneca, Bhanvi, Dhanya Ann Thoppil, Shilpi Majumdar Organizations: AstraZeneca, New York Stock Exchange, REUTERS, drugmaker AstraZeneca, Thomson Locations: United States, Bengaluru

☆ US CDC panel recommends Sanofi-AstraZeneca's preventive RSV therapy for babies
▼ + stars: | 2023-08-03 | by ( ) www.reuters.com time to read: +1 min

[1/2] Sanofi logo at the company's headquarters during the annual results news conference in Paris, France, February 4, 2022. REUTERS/Benoit Tessier/File PhotoCompanies AstraZeneca PLC FollowSanofi SA FollowAug 3 (Reuters) - The U.S. Centers for Disease Control and Prevention (CDC) said its advisory panel on Thursday recommended use of Sanofi (SASY.PA) and partner AstraZeneca's (AZN.L) antibody therapy to prevent respiratory syncytial virus (RSV) in infants and toddlers. The Advisory Committee on Immunization Practices unanimously recommended nirsevimab for preventing lower respiratory tract disease in newborns and infants below eight months of age born during or entering their first RSV season. It also recommended its use in children aged 8-19 months who remain vulnerable to severe RSV disease through their second such season. The therapy, branded as Beyfortus, will be available in the U.S. ahead of the upcoming 2023-24 RSV season, Sanofi said.

Persons: Benoit Tessier, AstraZeneca's, Sanofi, Mrinmay Dey, Mariam Sunny Organizations: Sanofi, REUTERS, Companies AstraZeneca, U.S . Centers for Disease Control, Prevention, U.S . Food, Drug Administration, Thomson Locations: Paris, France, U.S, Bengaluru

☆ AstraZeneca planning China business spin off, Financial Times reports
▼ + stars: | 2023-06-18 | by ( ) www.reuters.com time to read: +1 min

Companies AstraZeneca PLC FollowJune 18 (Reuters) - Drugmaker AstraZeneca (AZN.L) is drafting a plan to spin off its China business, and listing a separate unit in Hong Kong is being viewed as an option, the Financial Times reported on Sunday. The company would seek to be a patriotic company in China that "loves the Communist Party", its China president said in May. Last year, the country accounted for 13% of AstraZeneca's total sales, and the company is China's biggest drugmaker. The spin off could protect AstraZeneca from tensions between China and other global powers, while the company retained control of the business, the FT's report said. AstraZeneca said it did not comment on "rumours or speculations around future strategy or M&A."

Persons: Bharat Govind Gautam, Rishabh Jaiswal, Chris Reese, Diane Craft Organizations: AstraZeneca, Financial Times, Communist Party, Thomson Locations: China, Hong Kong, Shanghai, Bengaluru

☆ AstraZeneca confident new COVID antibody protects against known variants
▼ + stars: | 2023-04-18 | by ( Maggie Fick | ) www.reuters.com time to read: +2 min

REUTERS/ Albert GeaCompanies AstraZeneca PLC FollowBARCELONA, April 18 (Reuters) - AstraZeneca is confident that its new version of COVID-19 antibody treatment could protect immunocompromised patients against all known virus variants, its vaccines head said. AstraZeneca plans, pending more positive data and regulatory approval, to make the antibody available by the end of 2023. In January, the U.S. health regulator withdrew its emergency use authorization for AstraZeneca's original COVID-19 antibody cocktail Evusheld, as new dominant variants made it obsolete. AstraZeneca's AZD3152, it new COVID-19 antibody, was acquired through a $157 million deal last year with British biotech start-up RQ Bio. However, demand for COVID-19 vaccines have dramatically declined with competition from mRNA vaccines and given many countries already have an oversupply of COVID-19 shots.

☆ AstraZeneca Q4 revenue just shy of analyst estimates
▼ + stars: | 2023-02-09 | by ( ) www.reuters.com time to read: +1 min

Companies AstraZeneca PLC FollowLONDON, Feb 9 (Reuters) - AstraZeneca (AZN.L) on Thursday posted fourth-quarter revenue just shy of analyst estimates, with slightly lower-than-expected sales of its best-selling oncology and rare blood disorder drugs. The London-listed drugmaker, which reports its results in U.S. dollars, reported an adjusted profit of 1.38 cents per share on sales of about $11.2 billion. Analysts were expecting $1.34 per share on sales of about $11.3 billion, according to company-compiled consensus estimates. Sales of AstraZeneca's best-selling cancer drugs — Tagrisso, Imfinzi and Lynparza — generated $1.34 billion, $752 million, $689 million in the quarter respectively. Cowen analysts expected the three drugs to bring in about $1.4 billion, $760 million and $695 million respectively.

[1/2] The logo for AstraZeneca is seen outside its North America headquarters in Wilmington, Delaware, U.S., March 22, 2021. REUTERS/Rachel Wisniewski/Companies AstraZeneca PLC FollowLONDON, Feb 9 (Reuters) - Britain's business climate is deterring biopharma companies from investing in the country, AstraZeneca (AZN.L) chief Pascal Soriot said on Thursday, highlighting his company's decision to shift plans for a new manufacturing plant to Ireland. He highlighted AstraZeneca's recent decision to build a manufacturing facility in Ireland instead of the UK as evidence of Britain becoming less attractive for drugmakers. The decision, made in 2021, was also linked to the UK government's Voluntary Scheme for Branded Medicines Pricing and Access (VPAS), a company spokesperson added. Reporting by Natalie Grover and Maggie Fick Editing by Tomasz Janowski, Barbara Lewis and Susan FentonOur Standards: The Thomson Reuters Trust Principles.

☆ European shares hit fresh nine-month high on earnings boost
▼ + stars: | 2023-02-09 | by ( Ankika Biswas | ) www.reuters.com time to read: +3 min

The pan-European STOXX 600 (.STOXX) was up 0.8% at 0920 GMT, extending gains for a third straight session. Shares of Sweco AB (SWECb.ST), a Swedish construction and engineering company, jumped 11% to top the STOXX 600 following its upbeat fourth-quarter earnings. An over 5% gain in AstraZeneca (AZN.L) on 2023 earnings and revenue growth forecast boosted the healthcare sub-index (.SXDP). Of the 93 STOXX 600 companies that have reported earnings so far, more than half have beaten market expectations, Refinitiv data showed on Tuesday. Signs of economic resilience and better-than-feared corporate earnings have helped European stocks outperform their U.S. counterparts so far this year.

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