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AstraZeneca’s share price rose to its highest level so far this month, climbing 3.49% intraday on Nov. 11. The stock has gained 7.80% over three consecutive sessions, driven by positive clinical developments and strong earnings performance.
The rally follows successful Phase 3 trial results for baxdrostat, AstraZeneca’s hypertension drug, which demonstrated a 14.0 mmHg reduction in 24-hour systolic blood pressure compared to placebo. The drug, acquired via the 2023 CinCor Pharma deal, showed a favorable safety profile and could target a $30 billion market for resistant hypertension. Analysts highlighted its potential to strengthen AstraZeneca’s cardiovascular portfolio and expand market share.
Third-quarter earnings also bolstered investor confidence, with revenue surpassing estimates by 2% to $14.365 billion, driven by oncology blockbusters like Enhertu and Truqap. Leerink Partners upgraded its price target to $87, citing a robust pipeline of Phase 3 opportunities and AstraZeneca’s long-term revenue goals. Strategic moves, including a $4.5 billion U.S. manufacturing investment and regulatory approvals for therapies like Koselugo and Saphnelo, further reinforced growth prospects.

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