AstraZeneca raised to buy at Argus on product approvals, acquisitions
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Argus has boosted its rating on AstraZeneca (NASDAQ:AZN) to buy from hold citing a spate of approvals in recent months, acquisitions, as well as growth in its existing portfolio.
The firm has a $75 price target (~14% upside based on Monday's close).

Analyst Jasper Hellweg noted the company recently acquired TeneoTwo, the developer of a potential treatment for B-cell hematologic malignancies. In phase 1,TeneoTwo also has the CD19/CD3 T-cell engager, TNB-486, under investigation for B-cell non-Hodgkin lymphoma.
As far as approvals, Ultomiris just received approval in Japan for the rare neuromuscular disorder generalized myasthenia gravis.
He cited Tagrisso, Farxiga, Imfinzi, Lynparza, Calquence, and Fasenra, as well as Ultomiris and Strensiq as major growth drivers in its Q2 2022 earnings, which beat on the top and bottom lines. Management also raised its full-year revenue guidance at the time.
Earlier Monday, AstraZeneca released data showing its diabetes drug Farxiga (dapagliflozin) improved clinical outcomes in certain patients with heart failure.evaluation in relapsed and refractory B-cell non-Hodgkin lymphoma.