Deutsche Bank questions the future prospects of key breast cancer drugs of Astrazeneca PLC Sponsored ADR (AZN.US) and gives a rare "sell" rating.

Analysts at Deutsche Bank Aktiengesellschaft downgraded their rating on Astrazeneca PLC Sponsored ADR (AZN.US) to "sell" on Thursday, taking a more cautious view on the British pharmaceutical company's drug development pipeline, especially in regards to breast cancer therapies. Analyst Emmanuel Papadakis lowered the stock rating from "hold" to "sell" and reduced the target price to 105 pounds, making it the lowest target price among analysts. This implies a 16% downside from current levels after a strong rally earlier this month. In his report, Papadakis wrote, "With Astrazeneca PLC Sponsored ADR stock price reaching recent trading range highs, we take this opportunity to turn more explicitly bearish," noting that he last recommended a "buy" on the stock in July 2023. The analyst believes that the key breast cancer drug camizestrant from Astrazeneca PLC Sponsored ADR is unlikely to demonstrate significantly better efficacy compared to similar drugs. He also added that current valuation may be too high as patent expiry pressures intensify. Meanwhile, other analysts are more optimistic about the pharmaceutical company, with approximately three-quarters giving a "buy" recommendation and an average target price exceeding 140 pounds over the next 12 months.