AstraZeneca PLC: Is It Investable After Imfinzi Failure?
Published: Sep 08, 2017
AstraZeneca PLC (NYSE:AZN) is held in a very poor light by much of the analyst world. Goldman Sachs (GS) has a sell rating, Fitch recently downgraded it to A-, Moody doesn’t have high opinions either, and the average analyst price target of $32 was lower than the stock’s price until very recently, right until its MYSTIC trial in stage 4 lung cancer for Imfinzi (durvalumab), a PDL1 inhibitor, failed to meet primary endpoint of PFS. So the stock became slightly more attractive after its critical failure? Huh!