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Home Stock Ideas Long Ideas Healthcare Summary Wainua's July failure erased more than $30 billion of AstraZeneca's market value and raised questions about a pipeline investors had learned to trust. The full tozorakimab results are more interesting than the earlier headline. COPD attacks fell by 29% to 34% in two large Phase III trials.
A 23% reduction among patients with low eosinophil counts could open a part of the COPD market that existing biologics do not serve well. I rate AstraZeneca a Buy at $159.64. My 12-month target is $180, with the dividend lifting the potential total return to roughly 15%.
Robert Way/iStock Editorial via Getty Images On July 9, AstraZeneca PLC ( AZN ) investors got the kind of morning they had almost stopped expecting from this company. Wainua missed. The medicine, developed with Ionis Pharmaceuticals ( IONS ), failed the main 89 Followers Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours.
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