Barclays analyst James Gordon increased the price target for AstraZeneca PLC shares to 16,500 GBp from 14,000 GBp on January 6, according to TheFly. The firm maintained an Overweight rating on the stock.
On the same day, AstraZeneca announced results from its Phase III TULIP‑SC trial of Saphnelo for systemic lupus erythematosus. The trial showed that subcutaneous self-administration of Saphnelo led to a clinically significant reduction in disease activity at Week 52.
In the trial, 56.2% of patients receiving Saphnelo showed improvement, compared to 37.1% in the placebo group. These results support the potential of Saphnelo as a therapy for SLE.
AstraZeneca PLC is a global biopharmaceutical company that focuses on advancing cancer care through its oncology pipeline, targeted therapies, and immuno-oncology treatments. The company aims to improve patient outcomes across multiple tumor types worldwide.
AstraZeneca was recently placed fourth on a list of the Top 10 Oncology Stocks to Buy Now.