Citi reiterates 'buy' on AstraZeneca on the back of trial results for Enhertu against breast cancer
Analysts at Citi reiterated their 'buy' recommendation for shares of AstraZeneca following the release of the results of the DESTINY-Breast 04 clinical trial using its Enhertu treatment against metastatic breast cancer.
AstraZeneca
10,428.00p
09:40 27/12/24
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-8.00p
FTSE 100
8,141.47
09:40 27/12/24
n/a
n/a
FTSE 350
4,492.57
09:40 27/12/24
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FTSE All-Share
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Pharmaceuticals & Biotechnology
20,024.33
09:39 27/12/24
0.00%
20,024.33
The milestone meant that revenues from Enhertu were set to be turbo-charged and see an inflection point in sales of the same.
Inclusion of the above data into National Comprehensive Cancer Network's guidelines should allow for reimbursement of the cost to patients under both commercial and Medicare plans, they said.
They also anticipated that Enhertu would be used in nearly all patients with refractory metastatic breast cancer, expanding the market from 25% to approximately 100%.
Citi kept its target price at 105.0p.