Home » Stocks & Shares » AstraZeneca share price: Investors eye Q2 update

AstraZeneca share price: Investors eye Q2 update

Tsveta van Son
  • July 22nd, 09:22
  • Last Updated: September 16th, 17:17

AstraZeneca’s (LON:AZN) new oncology treatments will be in focus as the Anglo-Swedish drugmaker updates investors on its half-year performance this week. The statement will come after the company said in April that its product sales had grown 10 percent in the first three months of the year, reflecting the performance of the group’s new medicines.

AstraZeneca’s share price has been steady this Monday morning, having climbed 0.33 percent higher to 6,411.00p as of 10:01 BST. The stock is marginally underperforming the broader London market, with the benchmark FTSE 100 index currently standing 0.51 percent higher at 7,546.75 points. The pharmco’s shares have added nearly 15 percent to their value over the past year, as compared with about a two-percent fall in the Footsie.

AstraZeneca results preview

AstraZeneca is scheduled to update investors on its second-quarter trading on Thursday and Proactive Investors reports that UBS expects the pharmco’s oncology treatment Tagrisso to have racked up sales of $707 million, while Lynparza and Imfinzi are expected to have hit $252 million and $338 million, respectively. The Anglo-Swedish drugmaker has bet on oncology as one of its key therapy areas to help offset a decline in its previous blockbuster drugs which have been hit by competition from cheaper generics.

IG meanwhile notes that the strong performance of AstraZeneca’s share price this year reflects its strong first-quarter results, and that the pharmco and its investors expect “more of the same in its half-year results, with the drug maker anticipating strong and sustainable product sales growth to be accompanied by operating leverage, leading to an improvement in profitability”.

Analyst ratings update

UBS reaffirmed the Anglo-Swedish drugmaker as a ‘sell’ last week, without specifying a target on the AstraZeneca share price. According to MarketBeat, the blue-chip group currently has a consensus ‘hold’ rating and an average valuation of 6,502.94p.

About the author

Tsveta van Son
Tsveta van Son is part of Invezz’s journalist team. She has a BA degree in European Studies and a MA degree in Nordic Studies from Sofia University and has also attended the University of Iceland. While she covers a variety of investment news, she is particularly interested in developments in the field of renewable energy.

Leave a Reply

Investing is speculative. When investing your capital is at risk. This site is not intended for use in jurisdictions in which the trading or investments described are prohibited and should only be used by such persons and in such ways as are legally permitted. Your investment may not qualify for investor protection in your country or state of residence, so please conduct your own due diligence. This website is free for you to use but we may receive commission from the companies we feature on this site. Click here for more information.