AZN Stock Forecast: AstraZeneca plc gains on urgent European demand for its COVID-19 vaccine
Premium|Take advantage of 50% OFF on your first month.
Start your subscription and get access to all our original articles.
You have reached your limit of 5 free articles for this month.
Get Premium without limits for only $9.99 for the first month
Access all our articles, insights, and analysts.
UNLOCK OFFER- NASDAQ:AZN added 2.40% on Tuesday alongside a broader market rally.
- Several European countries seek emergency use authorization for AstraZeneca’s COVID-19 vaccine.
- AstraZeneca receives approvals for two additional non-COVID related drugs.
NASDAQ:AZN has now strung together consecutive days of gains as the stock trajectory continues to point upwards for the United Kingdom-based pharmaceutical giant. On Tuesday, AstraZeneca gained 2.40% to close the first trading session of the week at $52.57. While AstraZeneca has lagged behind its American rivals Pfizer (NYSE:PFE) and Moderna (NASDAQ:MRNA) in terms of widespread usage and distribution of its COVID-19 vaccine candidate, the old adage ‘it’s better late than never’ may be what its investors are currently thinking.
AstraZeneca received a further nod of approval from Europe when several countries including Austria, Greece and Denmark have urged the European Medicines Agency to fast track approvals for its vaccine. Austria, in particular, is battling rising cases of the virus, and have officially extended its lockdown to February 7th. The EMA did agree to review the AstraZeneca vaccine data on an expedited basis this month, so these countries should have their answer by the end of January.
AZN stock news
In other news, AstraZeneca has received approvals for its gastric-cancer treatment Enhertu, which it has developed in partnership with Japanese pharmaceutical firm Daiichi Sankyo, after its Phase II results were extremely positive. Enhertu represents the first new treatment for metastatic HER-2 gastric cancer in over a decade. AstraZeneca also received approval to release a new dosage for its non-small cell lung cancer treatment, Imfinzi, which will drastically cut back on patient medical visits, which is especially crucial during the COVID-19 pandemic. The new regiment will see Imfinzi provided to patients in a four-week dosage interval, which represents about half of the visits patients need to make on the current schedule.
- NASDAQ:AZN added 2.40% on Tuesday alongside a broader market rally.
- Several European countries seek emergency use authorization for AstraZeneca’s COVID-19 vaccine.
- AstraZeneca receives approvals for two additional non-COVID related drugs.
NASDAQ:AZN has now strung together consecutive days of gains as the stock trajectory continues to point upwards for the United Kingdom-based pharmaceutical giant. On Tuesday, AstraZeneca gained 2.40% to close the first trading session of the week at $52.57. While AstraZeneca has lagged behind its American rivals Pfizer (NYSE:PFE) and Moderna (NASDAQ:MRNA) in terms of widespread usage and distribution of its COVID-19 vaccine candidate, the old adage ‘it’s better late than never’ may be what its investors are currently thinking.
AstraZeneca received a further nod of approval from Europe when several countries including Austria, Greece and Denmark have urged the European Medicines Agency to fast track approvals for its vaccine. Austria, in particular, is battling rising cases of the virus, and have officially extended its lockdown to February 7th. The EMA did agree to review the AstraZeneca vaccine data on an expedited basis this month, so these countries should have their answer by the end of January.
AZN stock news
In other news, AstraZeneca has received approvals for its gastric-cancer treatment Enhertu, which it has developed in partnership with Japanese pharmaceutical firm Daiichi Sankyo, after its Phase II results were extremely positive. Enhertu represents the first new treatment for metastatic HER-2 gastric cancer in over a decade. AstraZeneca also received approval to release a new dosage for its non-small cell lung cancer treatment, Imfinzi, which will drastically cut back on patient medical visits, which is especially crucial during the COVID-19 pandemic. The new regiment will see Imfinzi provided to patients in a four-week dosage interval, which represents about half of the visits patients need to make on the current schedule.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.