J.P. Morgan Maintains a Buy Rating on AstraZeneca PLC (AZN), Sets a £140 PT

AstraZeneca PLC (NASDAQ:AZN) is one of the best long term low volatility stocks to buy right now. AstraZeneca PLC (NASDAQ:AZN) received a rating update from J.P. Morgan analyst Richard Vosser on October 20, who assigned the stock a Buy rating with a £140 price target.

The rating update followed AstraZeneca PLC’s (NASDAQ:AZN) announcement of positive results from the TROPION-Breast02 Phase III trial on October 19. The results showed that AstraZeneca and Daiichi Sankyo’s Datroway (datopotamab deruxtecan) exhibited a clinically meaningful and statistically significant improvement for “the dual primary endpoints of overall survival (OS) and progression-free survival (PFS) compared to investigator’s choice of chemotherapy as 1st-line treatment for patients with locally recurrent inoperable or metastatic triple-negative breast cancer (TNBC) for whom immunotherapy was not an option.”

Management reported that Datroway is the first and only therapy to considerably improve the overall survival compared to chemotherapy in this patient population, showing a “highly statistically significant and clinically meaningful 43% reduction in patients’ risk of disease progression or death”.

AstraZeneca PLC (NASDAQ:AZN) is a biopharmaceutical company that explores, develops, manufactures, and commercializes prescription medicines. It supplies its products and services to specialty and primary care physicians.

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Disclosure: None. This article is originally published at Insider Monkey.