We all know that clinical-stage biotech firms have their limelight because of the pandemic to find out the vaccine. At the end of April, the company AstraZeneca (NYSE: AZN at https://www.webull.com/quote/nyse-azn) has announced that they are collaborating with the famous university of Oxford for developing a vaccine candidate for the coronavirus.
The researchers working in the university have already found the vaccine, moved to test on the humans during the partnership. Now, many of the investors are wondering that investing in this company’s stock might result in the triple-digit gain like previously enjoyed by other stocks of biotech the current year. Let’s have a close look at this topic.
The future line-up of the company
The company NYSE: AZN started the race for finding the vaccine for coronavirus. But you have to thank for the progress of the Oxford University researchers. It is because this pharma company is now standing among the leaders. Currently, they involve in the third phase study using two thousand participants. The results of the previous stages are all positive. They said that the participants who received the doses of the invented vaccine offered antibodies so that it helps in neutralizing the virus.
Even though having this positive reaction, the company’s shares have not been reactive to the vaccine news due to the large size. After the partnership of Oxford University, the shares of the company gained to 7.2 percent. Currently, the company has about 166 programs and claims nine best blockbuster drugs as cardiovascular, metabolic, and more. In the first quarter, the company is reported its growth in all of those mentioned above areas.
Sales growth of double-digit
Of the company’s top-selling drugs, seven drugs will be having a sales gain in double digits in the first half of the year. Hence the current strategy of the company is to gain revenue from the new medicines instead of relying upon the old drugs. This plan is working now. The company has claimed half of its total revenue in the early period of the year itself. It is an excellent expectation that the revenue will grow in an upward trend if their new medicines perform well.
Now the question will be, is the company a millionaire maker. The market value of the NYSE: AZN is 147 billion dollars. It cannot triple or double as easily as possible if you are a small player. You have to invest a massive amount in becoming a millionaire. Consider all these points and make your investment best. You can do stock trading online after checking more stock news.
Disclaimer: The analysis information is for reference only and does not constitute an investment recommendation.