#5 - AstraZeneca (NASDAQ:AZN)
AstraZeneca PLC (NASDAQ: AZN) is taking a different approach to getting a GLP-1 drug to market by licensing technology from Eccogene for a once-daily GLP-1 pill, ECCO504. The drug is in Phase 1 trials for patients with type-2 diabetes.
Like many of the companies that do not currently have drugs on the market, there’s a lot that remains to be seen about the potential market for ECCO504. But AstraZeneca is forecasting the projected impact from ECO5004 to be $80 billion in revenue by 2030. That’s a 75% increase from the $45.8 billion it generated in 2023.
To put that 8% annual revenue growth into context, AZN stock has delivered a five-year total return of 113.5%. That’s likely to move higher and ensures that the company’s dividend is safe.
And ECCO504 is not the company’s only foray into the weight-loss space. AstraZeneca has also committed $80 million to the Swiss biotech company, SixPeak Rio. This will give AstraZeneca access to SixPeak Rio’s bispecific antibody weight loss therapy, which attempts to promote weight loss while preserving skeletal muscle mass.
About AstraZeneca
AstraZeneca PLC, a biopharmaceutical company, focuses on the discovery, development, manufacture, and commercialization of prescription medicines. The company's marketed products include Tagrisso, Imfinzi, Lynparza, Calquence, Enhertu, Orpathys, Truqap, Zoladex, Faslodex, Farxiga, Brilinta, Lokelma, Roxadustat, Andexxa, Crestor, Seloken, Onglyza, Bydureon, Fasenra, Breztri, Symbicort, Saphnelo, Tezspire, Pulmicort, Bevespi, and Daliresp for cardiovascular, renal, metabolism, and oncology.
Read More - Current Price
- $71.43
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 9 Buy Ratings, 1 Hold Ratings, 1 Sell Ratings.
- Consensus Price Target
- $89.75 (25.6% Upside)
