AstraZeneca Kept at Buy as Berenberg Notes 'Upbeat' Q2 Earnings Call

MT Newswires · 2d ago
05:58 AM EDT, 07/28/2026 (MT Newswires) -- Berenberg affirmed its investment case for AstraZeneca (AZN.L, AZN.ST), noting the drugmaker's "upbeat" second-quarter 2026 earnings call bolsters the research firm's full-year 2030 revenue estimate of $81 billion. "Management [recentered] attention on the 25 key [phase 3] readouts coming in the next 18 months, with six novel molecules to deliver P3 data in 2027. Over USD10bn in risk-adjusted, combined peak sales potential from the 2026 readouts remains intact. The tozorakimab unwind was positive (from a low probability), and peak sales guidance has increased to over USD5bn (vs our USD6bn), which more than offsets the Wainua negative. Growth beyond 2030 does not require more business development and a 60% P3 success rate is implied by the internal planning," analysts said Tuesday. The research firm said the company's catalysts "remain full" through 2027, including US Food and Drug Administration decisions for camizestrant in first-line switch breast cancer and Ultomiris for immunoglobulin A nephropathy, along with phase 3 updates on Datroway for lung cancer and camizestrant for first-line breast cancer, among others. Berenberg still rates AstraZeneca at buy, with a price target of 160 pounds sterling. Analysts also trimmed their sales expectations for 2026 through 2028 by 0.5%, 0.8% and 0.3%, respectively.