AstraZeneca Share Forecast November 2021 – Time To Buy AZN?

Shares of British-Swedish multinational pharmaceutical and biotechnology company AstraZeneca (LSE: AZN) are in the green today, currently trading around the 9000p mark at the time of writing. AstraZeneca has experienced a bumpy ride while rolling out the COVID-19 vaccine. Management expects making a modest profit in the 4^th quarter. The company is also counting on winning U.S. Emergency Use Authorization for AZD7442 as COVID-19 pre-exposure prophylaxis.

AstraZeneca – Technical Analysis

AstraZeneca’s financial statement indicated a market cap of £136.34 billion with total assets worth £53.307 billion. Revenue for 2020 was £21.52 billion with a profit margin of 11.58% compared to 19.11 billion in 2019.

Oscillators for AstraZeneca such as Relative Strength Index (14)(47), Stochastic %K (14, 3, 3)(40),  Commodity Channel Index (20)(−48), Average Directional Index (14)(20) and Awesome Oscillator (200) are neutral. Moving averages such as Exponential Moving Average (10)(9164), Simple Moving Average (10)(9274), Exponential Moving Average (20)(9111) and Simple Moving Average (20)(9117) are indicating sell.

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Recent Developments

AstraZeneca has several products such as its oncology franchise which is filled with products with Tagrisso, Imfinzi, Lynparza, Calquence, and Enhertu. The company has invested heavily on its research and development (R&D) over the past year, allowing them to und various clinical trials for Imfinzi and other cancer drugs, cardiovascular drugs, and respiratory and immunology drugs.

AstraZeneca has recently settled Covid vaccine supply dispute with the European Commission, winning a new approval in Europe for Alexion’s Ultomiris. The company will deliver 60 million doses of its Covid shot by the end of the third quarter, 75 million by the end of the fourth quarter and 65 million by the end of the first quarter as stated in the terms of the agreement. Rebates will also be provided for any delayed doses.

The company has revealed that its asthma combination demonstrated “significant benefits” in a Phase 3 study, while a combination using its drug Imfinzi improved outcomes for never-before-treated lung cancer. However, after an independent committee examined an interim analysis on the company’s Alexion drug Ultomiris in patients with amyotrophic lateral sclerosis, the company ran into trouble and paused the tests.

AstraZeneca announced that a combination of its tremelimumab plus chemotherapy and its drug, Imfinzi has extended the amount of time before lung cancer worsened by 28% and improved overall survival by 23%. It also said that a fixed dose of drugs called albuterol and budesonide reduced the risk of asthma exacerbations compared with albuterol alone and improved lung function in asthma patients. The drug has been cleared in Europe to treat children with a rare blood disorder.

Should You Buy AZN Shares?

Smart investors pick up shares of a company when it breaks out and remains within five percent of its entry. AZN shares are still forming a new cup-with-handle-base and have middling across the board. Q3 is expected to be strong for AstraZeneca due to its takeover of Alexion. However, investors will need to watch metrics for the next year to understand the full impact of the acquisition on the company’s financials.

Investors will also have to watch out for any news concerning AstraZeneca’s coronavirus vaccine news — particularly whether it can gain authorization in the U.S. The company has experienced revenue growth of 48% this quarter compared to last year. Products sales increased by 29%, CVRM revenue increased by 10%, and Oncology division revenue increased by 16%. These drivers should allow the company to meet the full-year guidance provided earlier in 2021. Considering this you can add AZN to your portfolio.

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