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Preview: What to Expect From AstraZeneca’s Q3 Earnings on Friday

·3 minuto per la lettura

The British-Swedish pharmaceutical giant AstraZeneca is expected to report earnings per share of GBP 92.54 in the third quarter on revenue of GBP 7.04 billion.

The one listed on the U.S. exchange was expected to report revenue growth of over 50% to $9.871 billion from $6.58 billion seen in the same period a year earlier. The earnings per share (EPS) was expected to rise to $0.62 from $0.47 a year ago.

“We estimate Q3 EPS of $1.23 (+31%) vs. consensus of $1.24. We forecast total Q3 revenue of $9.85B (+50%) vs. consensus of $9.62B. Collaboration revenue is estimated to contribute $80MM. Q3 estimates of key products include: Tagrisso (+19% to $1,370MM), Imfinzi (+28% to $685MM), Lynparza (+36% to $630MM), and Fasenra (+44% to $345MM),” noted Steve Scala, equity analyst at Cowen.

The London-listed AstraZeneca shares rose nearly 30% so far this year. It was trading 1.04% higher at GBX 9,386 at the time of writing on Wednesday. AstraZeneca’s better-than-expected third-quarter earnings results, which will be announced on Friday, November 12, could help the stock scale to a fresh record high.

Analyst Comments

“We expect Q3’21 sales to reflect lower levels of cancer diagnoses and VBP pressures in China, with the gross margin continuing to be impacted by COVID-19 vaccine sales and changes in product mix. With collaboration revenues / OOI phased into 4Q21, consensus Q3’21 earnings appear c.8% too high,” noted Mark Purcell, equity analyst at Morgan Stanley.

“Sector leading growth: The acquisition of Alexion should accelerate revenue growth to 8% CAGR FY22-25e, whilst strengthening the therapeutic and geographic diversification of the group. After reflecting cost synergies, we project ~15% earnings CAGR FY22-25e vs. ~8% for peers. Product & pipeline optionality: We see a further 20-30% upside risk to cons. expectations from new product launches. In addition, we see near-term upside from the pipeline, where positive readouts could drive MSD upside to cons. mid-term earnings. Valuation is compelling: Currently trading on~16x FY’22e P/E/at a 40% discount to close comparator Novo, despite offering stronger and arguably more diversified growth.”

AstraZeneca Stock Price Forecast

Thirteen analysts who offered stock ratings for AstraZeneca in the last three months forecast the average price in 12 months of GBX 9,596.25 with a high forecast of GBX 15,000.00 and a low forecast of GBX 105.00.

The average price target represents a 2.26% change from the last price of 9,384.00p. All of those 13 analysts rated “Buy”, according to Tipranks.

Morgan Stanley gave the base target price of GBX 10,000 with a high of GBX 12,000 under a bull scenario and GBX 6,900 under the worst-case scenario. The firm gave an “Overweight” rating on the pharmaceutical company’s stock.

Several other analysts have also updated their stock outlook. UBS raised the target price to GBX 10,000 from GBX 9,200. Guggenheim lifted the target price to GBX 11,100 from GBX 11,000. HSBC upped the target price to GBX 8,750 from GBX 7,131.

Technical analysis suggests it is good to buy now as 100-day Moving Average, and 100-200-day MACD Oscillator signals a strong buying opportunity.

Check out FX Empire’s earnings calendar

This article was originally posted on FX Empire


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