AstraZeneca: Is It Investable After Imfinzi Failure?

  • AZN failed a key trial of its oncology drug candidate Imfinzi.
  • Declining revenue and generic competition are eating at the company’s bottom line.
  • Does the recent decline in stock price justify an investment?
  • This is an example of the kind of critical vetting we do at our newly launched Marketplace service, the Total Pharma Tracker or TPT.

By Dr. Udaya K. Maiya, MBBS, MD, DNB, DCCF-Paris

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!

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