2024-04-26 11:33:56 ET
Summary
- Shares of AstraZeneca reached new all-time highs this week despite difficult market conditions in the last two months.
- The revenue and EPS beats were driven by the strong performance of all key growth products.
- Recent pipeline wins from Imfinzi, Tagrisso, and the expanded label of Enhertu, along with recent acquisitions, strengthen AstraZeneca's long-term growth profile.
- Obesity pipeline updates could unlock more value in the medium and long-term, but carry higher risks and more uncertainty given the rapid market evolution.
Shares of AstraZeneca PLC ( AZN ) have reached new all-time highs this week thanks to a strong first quarter earnings report. The situation has changed for the better since my late 2023 initiation article where I said the company was feeling the weight of the market but that it was well-positioned to get back on track and continue to deliver shareholder gains....
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AstraZeneca: Strong In A Weak Market