12:03 PM EDT, 09/10/2026 (MT Newswires) -- Berenberg noted AstraZeneca's (AZN.L, AZN.ST) "increasingly attractive" valuation as it took into account "stellar" results from the drugmaker's late-stage trials for tozorakimab, which showed a reduction in chronic obstructive pulmonary disease exacerbations. "Following stellar data for tozorakimab in COPD, we raise our forecasts to 95% probability with USD4.4bn peak sales. This combined with approval for Etcamah in 1L breast cancer adds cGBP1/shr to our NPV. The R&D and M&A discount applied to the shares should ease. CEO, Pascal Soriot, made a clear statement on the tozorakimab call (Tuesday) reassuring the market that he is confident in growth beyond 2030 due to pipeline strength. It would be very unlikely (and unlucky) that everything in pipeline fails," the research firm said in a note published Thursday. "Tozorakimab delivered a 30% reduction in COPD exacerbations and has the potential to change the treatment paradigm and expand the addressable population. A broad label is expected which should allow tozorakimab exclusive access to patients with eosinophil (eos) counts below 300." Analysts also noted that the company's catalysts remain full into 2027, including the phase 3 readouts from the Serena-4 and Cambria-1 trials for camizestrant and the Avanzar study for Datroway in lung cancer. The buy recommendation on the stock was reaffirmed, along with the price target of 160 pounds sterling.

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