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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  AstraZeneca PLC    AZN   GB0009895292

ASTRAZENECA PLC

(AZN)
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AstraZeneca vaccine news drags on FTSE, but mid-caps immune

11/23/2020 | 04:57am EST

* AstraZeneca marks worst day in nearly six months

* UK aims to roll out a COVID-19 vaccine before Christmas

* Cineworld jumps on securing additional debt

Nov 23 (Reuters) - British stocks rose on optimism over a COVID-19 vaccine on Monday, although gains in the FTSE index were curbed by a fall in shares of AstraZeneca after the drugmaker's candidate was less effective than others in trials.

The mid cap index added 0.4%, while the FTSE 100 fell 0.3%, with AstraZeneca marking its worst day in nearly six months with a 3.8% fall.

AstraZeneca said the average efficacy of its vaccine, which is being developed with the University of Oxford, was at 70% in its late-stage trial.

Although the British drugmaker said its potential vaccine can be 90% effective, its average rate was lower than for Pfizer-BioNTech's and Moderna's, which showed efficacy rates of about 94% to 95%.

"Even though the late stage trials were better than expected, AstraZeneca’s shares didn’t get a booster shot," Susannah Streeter, senior investment and markets analyst, Hargreaves Lansdown, said of the news.

"It has though added to the overall positivity washing around the financial markets about a faster end to the pandemic."

Britain's health minister said the country aims to roll out a COVID-19 vaccine before Christmas and ease restrictions next month, raising hopes of a sooner-than expected recovery and boosting consumer stocks.

While positive vaccine-related headlines have helped British stocks gain this month, they have still underperformed global peers due to uncertainty over Brexit negotiations, as the end of year deadline for a trade deal looms.

While data showed that British business activity contracted in November due to a new wave of coronavirus lockdowns, news of possible vaccines sharply boosted hopes for 2021.

In corporate news, Cineworld Group jumped nearly 20% after it secured waivers for its debt covenants until June 2022, along with $450 million in new loans.

(Reporting by Devik Jain in Bengaluru; Editing by Saumyadeb Chakrabarty and Alexander Smith)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
ASTRAZENECA PLC 1.66% 7777 Delayed Quote.6.19%
CINEWORLD GROUP PLC -4.73% 66.1 Delayed Quote.3.12%
MODERNA, INC. -1.47% 131.02 Delayed Quote.25.41%
MSCI UNITED KINGDOM (STRD, UHD) -0.69% 1069.389 Real-time Quote.4.45%
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Financials (USD)
Sales 2020 26 404 M - -
Net income 2020 2 955 M - -
Net Debt 2020 13 238 M - -
P/E ratio 2020 42,5x
Yield 2020 2,65%
Capitalization 140 B 139 B -
EV / Sales 2020 5,79x
EV / Sales 2021 4,98x
Nbr of Employees 70 600
Free-Float 95,7%
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Technical analysis trends ASTRAZENECA PLC
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Mean consensus BUY
Number of Analysts 25
Average target price 126,44 $
Last Close Price 106,39 $
Spread / Highest target 46,7%
Spread / Average Target 18,8%
Spread / Lowest Target -15,2%
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Managers and Directors
NameTitle
Pascal Soriot Chief Executive Officer & Executive Director
Leif Valdemar Johansson Non-Executive Chairman
Pam P. Cheng Executive VP-Operations & Information Technology
Marc Pierre Jean Dunoyer Chief Financial Officer & Executive Director
Menelas N. Pangalos EVP-Biopharmaceuticals Research & Development
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