AstraZeneca stock edges higher as Deutsche Bank sticks to Sell after COPD data

Published on 09/10/2026 at 14:01 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

AstraZeneca stock in London traded around 11,658 pence on September 10, 2026 after Deutsche Bank reiterated a Sell rating with a 11,500 pence target tied to new tozorakimab lung data. The shares remain near that target as investors weigh a first-half 2026 revenue base of USD 30.7 billion and a 34.2 percent core margin.

Wissenschaftler im weißen Kittel arbeiten in modernem Pharma-Forschungslabor — AstraZeneca plc (ISIN GB0009895292) betreibt moderne Forschungslabore für pharmazeutische Wirkstoffentwicklung und klinische Studien weltweit, Illustration mit AI erstellt.

AstraZeneca PLC stock (ISIN GB0009895292) traded slightly higher around 11,658.00 pence on the London Stock Exchange on September 10, 2026, leaving the shares close to the 11,500 pence price target that Deutsche Bank reaffirmed alongside fresh lung disease data for tozorakimab and recent oncology updates.

Deutsche Bank stays cautious after tozorakimab data

According to Proactive Investors on September 10, 2026, Deutsche Bank maintained a Sell rating on AstraZeneca and set its target price at 11,500 pence while the stock was trading at about 11,634 pence in London, reflecting only a small premium of roughly 1.2 percent to the bank's valuation benchmark.

The broker highlighted detailed chronic obstructive pulmonary disease (COPD) trial results for tozorakimab presented at the European Respiratory Society congress, with AstraZeneca having earlier lifted peak sales guidance for the drug above USD 5 billion during its second-quarter 2026 results, while consensus forecasts for 2030 stood closer to USD 4 billion, leaving scope for upward revisions if the data translate into commercial traction, as noted by Proactive Investors.

COPD and breast cancer trial wins underpin pipeline

As GuruFocus reported on September 9, 2026, AstraZeneca announced Phase 3 COPD trial results showing that its biologic tozorakimab reduced moderate or severe flare-ups by 29 percent and 34 percent among former smokers in the OBERON and TITANIA studies respectively, with broader patient groups seeing reductions of about 30 percent and 29 percent, while a priority review from the US Food and Drug Administration put a regulatory decision timetable into the first quarter of 2027.

On the oncology side, AstraZeneca also secured an accelerated approval from the US Food and Drug Administration for Etcamah (camizestrant) in combination with a CDK4/6 inhibitor as a first-line treatment option for adults with hormone receptor positive, HER2 negative, locally advanced or metastatic breast cancer whose tumors develop ESR1 mutations following aromatase inhibitor plus CDK4/6 therapy, an update dated September 7, 2026 and cited by Ad-hoc-news, adding another regulatory catalyst to the company’s breast cancer portfolio.

First-half 2026 figures show strong margin base

For investors, AstraZeneca's latest available half-year figures provide the earnings backdrop against which the new data and ratings are being judged. According to GuruFocus, AstraZeneca generated USD 30.7 billion of revenue in the first half of 2026 and USD 10.5 billion of core operating profit, implying a core operating margin of 34.2 percent for that period, a level that underscores the profitability of its current mix of oncology, cardiovascular, and respiratory medicines.

The same analysis noted that, at a share price of USD 158.00 at the time of publication, the stock was trading about 12.5 percent below the USD 180.52 GF Value estimate, signalling a perceived undervaluation relative to that fair value model even as the market reacted cautiously to trial headlines, as summarized by GuruFocus.

Analyst views split between Sell and Outperform

While Deutsche Bank underscores valuation concerns with its Sell stance and 11,500 pence target, other houses have taken a more constructive view on AstraZeneca in recent days. According to GuruFocus on September 9, 2026, RBC Capital Markets initiated coverage of AstraZeneca with an Outperform rating, arguing that the shares offered an attractive risk reward profile after a recent price dip and noting that the company’s price to earnings ratio had fallen to roughly 14 times following setbacks in a cardiovascular late stage trial.

In parallel, Berenberg reiterated a positive stance on the stock. As Zonebourse reported on September 10, 2026, Berenberg analyst Luisa Hector sees the shares as a buying opportunity, and the latest analyst roundups show RBC preferring AstraZeneca over some European peers as it initiates coverage at a rating equivalent to Outperform, even as broader UK equities have come under pressure from rising oil prices.

Stock holds near Deutsche Bank target in London trading

Real time quote data referenced by MarketScreener on September 10, 2026 showed AstraZeneca trading at 11,652.00 pence, up 0.02 percent on the session but down about 4.02 percent over the previous five trading days and lower year to date, leaving the shares almost exactly aligned with Deutsche Bank's 11,500 pence target level.

Per recent London market commentary from Reuters on September 9, 2026, AstraZeneca shares had dipped 1.9 percent in an earlier session as UK stocks fell to their lowest level in more than a month on intensifying inflation worries driven by oil moving above USD 100. Against that backdrop, the slight uptick on September 10, 2026 suggests that investors are balancing macro headwinds with company specific trial successes and mixed analyst views.