AstraZeneca, AMSC, Lifecore Biomedical, Arbor Realty Trust: Biotech News, Bullish Perceptions
- June 04th, 2023
- 249 views
AstraZeneca's (Nasdaq: AZN) announced that TAGRISSO (osimertinib) has demonstrated a significant improvement in overall survival (OS) in patients with early-stage epidermal growth factor receptor-mutated (EGFRm) non-small cell lung cancer (NSCLC).
According to the multinational pharmaceutical and biotechnology company AstraZeneca, the positive results from the ADAURA Phase III trial show that adjuvant treatment with TAGRISSO reduced the risk of death by more than half compared to placebo.
With 88% of patients alive at five years, these findings represent a significant advancement in the treatment of EGFR-mutated lung cancer and indicate that TAGRISSO (osimertinib) provides a good chance of long-term survival for patients.
AstraZeneca's Executive Vice President, Susan Galbraith, emphasized the importance of early diagnosis, EGFR mutation testing, and treating all those with an EGFR mutation with TAGRISSO.
On Friday, $AZN closed at $72.59, showing a slight decrease of $0.25 (0.34%).
American Superconductor Corporation (Nasdaq: AMSC), a leading energy technologies company, received a price target increase from $8 to $9 by Craig-Hallum.
With $AMSC closing at $6.08 on Friday, this adjustment suggests a potential upside of $2.92 (48.03%) based on the brokerage firm's view.
Lifecore Biomedical, Inc. (Nasdaq: LFCR), a medical device manufacturer specializing in biomaterials and regenerative medicine, had its price target raised from $10 to $11 by Barrington Research.
With a closing price of $8.15 on Friday, this adjustment implies a potential upside of $2.85 (34.97%) for $LFCR, according to the investment firm's analysis.
Arbor Realty Trust (NYSE: ABR), a real estate investment trust focused on financing and servicing commercial real estate loans, was initiated with an Outperform rating and a price target of $15 by Wedbush.
Ending the week at $13.44, this initiation suggests a potential upside of $1.56 (11.60%) for $ABR, as per the analyst's view.
It is worth noting that the potential upsides mentioned above are derived from the assessments of various brokerage firms, investment firms, or analysts. These estimates should be used in conjunction with market dynamics and individual investment strategies, as they serve as informative viewpoints within the investment landscape.
THIS IS NOT A RECOMMENDATION TO BUY OR SELL ANY SECURITY OR DIGITAL ASSET. Please consult with a professional investment advisor before purchasing or selling any securities viewed on or mentioned herein. (Read Full Disclaimer)
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