UBS stays positive on AstraZeneca ahead of second-quarter results

UBS expects AstraZeneca PLC (LSE:AZN, NASDAQ:AZN) to study coagulated second-quarter results aboriginal this month, though it sees small country for the drugmaker to rise full-year guidance.

The slope reiterated its 'buy' standing connected Britain's 2nd astir invaluable listed company, up of results owed connected 27 July.

UBS acceptable a 12-month terms people of 17,600p, good supra the 12,734.87p astatine which the shares closed connected 10 July.

The forecasts beryllium broadly successful enactment with consensus, moving astir 1% beneath connected income and 2% beneath connected halfway operating nett and net for the quarter.

The slope expects the sharpest capitalist absorption to autumn connected AstraZeneca's people of $80 cardinal successful yearly gross by 2030, a goal that has travel nether scrutiny aft the caller nonaccomplishment of Wainua successful a signifier of bosom disease.

UBS said it inactive viewed the 2030 people arsenic achievable, pointing to blockbuster proceedings readouts owed successful 2027, including an oral cholesterin attraction and a compartment therapy for aggregate myeloma.

The slope was much cautious connected nearer-term readouts, flagging higher hazard astir lung and bosom crab trials expected successful the 2nd half.

It named late-stage information connected the lung crab attraction tozorakimab successful chronic obstructive pulmonary illness arsenic a cardinal September event.

UBS forecasts full-year gross of astir $63.3 billion, up from $58.7 cardinal successful 2025.

It expects halfway net per stock of $9.48, rising to $11.38 successful 2027.

The slope sees the halfway operating borderline widening to 33.6% this twelvemonth from 31.5% successful 2025.

UBS said it did not expect AstraZeneca to assistance its full-year guidance, with its ain forecasts already sitting solidly wrong the existent range.

It described the institution arsenic having the broadest late-stage pipeline successful the sector, portion acknowledging that remaining catalysts this twelvemonth carried higher risk.

UBS makes a marketplace successful AstraZeneca securities and holds a agelong presumption of 0.5% oregon much successful its shares.