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Shares in AstraZeneca PLC (LSE:AZN), the largest company on the FTSE 100 index, and fellow blue chip GSK PLC (LSE:GSK, NYSE:GSK) were down 1.4% and 1.9% respectively on renewed worries about US drug tariffs. The pharmaceutical pair were a large drag on the London index after US President Donald Trump said tariffs on imported drugs could be imposed “very soon”, echoing comments from two months ago.
Astrazeneca (AZN) concluded the recent trading session at $73.55, signifying a -1.17% move from its prior day's close.
AstraZeneca PLC (LSE:AZN) is betting big on AI-enabled drug discovery (and China), agreeing a research collaboration with China's CSPC Pharmaceutical Group that could see the Anglo-Swedish drugmaker pay up to $3.6 billion in milestone payments. The deal focuses on developing new oral treatments for chronic conditions, with both companies contributing to the discovery and development of pre-clinical candidates.
The deal with China's CSPC Pharmaceuticals, focused on AI-driven research, aims to advance the discovery and development of new drug candidates.
AstraZeneca said on Friday it has agreed to a research deal with Chinese drugmaker CSPC Pharmaceuticals worth up to $5.22 billion to focus on AI-enabled initiatives.
UBS has reiterated its 'buy' rating on AstraZeneca PLC (LSE:AZN) with a 12-month price target of 14,200p, offering potential upside of just over 30% from the current share price of 10,907p. The focus is on two high-profile drug candidates with contrasting outlooks.
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Astrazeneca (AZN) closed the most recent trading day at $71.93, moving -1.24% from the previous trading session.
Pascal Soriot, CEO of AstraZeneca, said on Monday that he sees the pharma company's breast cancer blood test, which tracks signs of returning cancer, as "the future of cancer treatment."
Lilly dominates GLP-1 market but faces near-term headwinds, while AstraZeneca boasts steady growth, rising estimates and a higher dividend yield.