Q2 cleared the way into strong H2

Q2 was a bridge into exciting H2'24 and 2025. An expected guidance upgrade held back the stock. Accelerating growth, bulky pipeline and massive news flow: BUY.

A double-upgrade in a low-event report

Q2 looks to be another good quarter

Good Q2 with 14% revenue growth and $1.87 core EPS. Sets up a guidance uptick ahead of H2 acceleration. BUY on quality growth and strengthening pipeline.

Hardman & Co Insight: Survival of the UK life sciences sector

For two years running, the Hardman & Co Healthcare index has declined, underperforming both the FTSE 100 and the FTSE All-Share indices. This is quite unusual for healthcare stocks. Apart from the general economic influences, which have made institutions more risk-averse, there was a common knowledge that several companies were in need of additional working capital; so, share prices were marked down in anticipation of equity raises. However, the small- and mid-cap life sciences sector has alway

Bold new targets

CMD succeeded in showing USD 80bn 2030 revenues as achievable. Conservative margin profile +2026 is the right signal to send. Long-term growth case supported by CMD, BUY.

Oncology accelerating in Q1

Q1: 19% CER sales growth, Oncology business accelerating to +26%. Very strong Q1 points to even more joy through 2024. We raise core EPS by 2-6% and TP to SEK 1,830 (1,740) — BUY

Broadbased strenght in Q1

Solid Q1 coming up, but R&D day is key

We expect little drama at Q1 (25 Apr) with solid 10% CER growth. Forget Q1, it's all about the 21 May R&D day and new targets. TP up to SEK 1740 (1626), as we hike '24 EPS 7%: BUY.

Committed to its goals

Q4 core EPS miss + long-term questions send the share down share 6%. LT case untouched and very attractive, valuation still undemanding. AstraZeneca will host an Investor Day on 21 May 2024.

Q4'23 report

Expect an in-line end of '23

Q4e core EPS at USD 1.51/share (cons. 1.50/share). '24e view: low double-digit growth in total revenue & core EPS (CER). Reiterate BUY; TP SEK 1,665 (1,697).

Acquires vaccine company Icosavax