AstraZeneca: Deutsche Bank upgrades to 'sell'.

(CercleFinance.com) - Deutsche Bank announced on Friday that it had downgraded its recommendation on AstraZeneca shares to 'sell' from 'hold', with a price target reduced from 11,000 to 10,500 pence.


In a research note, the analyst explains that he is concerned about the data published this week by the biopharmaceutical group on bronchial cancer, which he believes raise new concerns in addition to those already raised by the experimental treatment Dato-DXd.

While noting that Dato is not the only major project in AstraZeneca's pipeline, the intermediary points out that its success is key to achieving sales growth of between 5% and 10%, a target which he now considers to be in doubt.

As a reminder, on Monday the Group published the results of a Phase III study evaluating the efficacy of Dato-DXd in locally advanced or metastatic non-squamous non-small-cell lung cancer, a disease whose prognosis generally does not exceed one year.

The study was statistically inconclusive, with overall survival in treated patients reaching 14.6 months, compared with 12.3 months in the chemotherapy group, an improvement of 2.3 months.

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