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4-Traders Homepage  >  Equities  >  London Stock Exchange  >  AstraZeneca plc    AZN   GB0009895292

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AstraZeneca : Top AstraZeneca shareholder Woodford adds to stake, bullish on outlook

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02/17/2017 | 10:43am CEST
A sign is seen at an AstraZeneca site in Macclesfield

Top AstraZeneca (>> AstraZeneca plc) shareholder Woodford Investment Management said on Wednesday it had added to its stake in the pharmaceutical firm and was confident in its growth outlook.

Top AstraZeneca (>> AstraZeneca plc) shareholder Woodford Investment Management said on Wednesday it had added to its stake in the pharmaceutical firm and was confident in its growth outlook.

Woodford, in an update on its website, said shares in AstraZeneca had been unfairly hit since analysts raised concern about the prospects for its key cancer drug trial, Mystic, after rival Bristol-Myers Squibb (>> Bristol-Myers Squibb Co) scaled back its plans in a similar area.

"Whilst this is understandable to an extent, we think the reaction is wrong. Indeed, Bristol-Myers Squibb’s problems in this setting may well turn out to be positive for AstraZeneca," Mitchell Fraser-Jones said in a note to investors.

Fraser-Jones said Woodford believed AstraZeneca was on a path to return to growth regardless of the outcome of Mystic, although it was nevertheless optimistic that Mystic would be successful when results are released later this year.

(Adds dropped word "trial" in second paragraph.)

(Reporting by Simon Jessop; Editing by Susan Fenton)

Stocks treated in this article : Bristol-Myers Squibb Co, AstraZeneca plc
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Financials ($)
Sales 2017 21 491 M
EBIT 2017 5 791 M
Net income 2017 2 649 M
Debt 2017 12 465 M
Yield 2017 4,08%
P/E ratio 2017 30,99
P/E ratio 2018 24,64
EV / Sales 2017 4,56x
EV / Sales 2018 4,48x
Capitalization 85 598 M
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Number of Analysts 34
Average target price 66,1 $
Spread / Average Target -1,2%
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Pascal Soriot Chief Executive Officer & Executive Director
Leif Valdemar Johansson Non-Executive Chairman
Pam P. Cheng Executive VP-Operations & Information Technology
Marc Dunoyer Chief Financial Officer & Executive Director
Sean Bohen Chief Medical Officer & Executive Vice President
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