AstraZeneca Stock Target Adjusted by Goldman Sachs on Hypophosphatasia Drug Potential

Edgen Stock·Sep 28 2025, 03:30

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TL;DR

Goldman Sachs has increased its price target for AstraZeneca PLC (AZN) to GBP150.13, maintaining a Conviction Buy rating. This adjustment reflects the investment bank's anticipation of significantly higher unrisked peak sales for efzimfotase alfa, an investigational hypophosphatasia (HPP) treatment, compared to current market consensus.

Goldman Sachs Price Target Increase - The investment bank raised AstraZeneca's price target from GBP148.83 to GBP150.13.
Efzimfotase Alfa Sales Projection - Goldman Sachs projects unrisked peak sales of $3.7 billion for the HPP drug efzimfotase alfa, an 85% increase over the $2 billion consensus estimates.
Imminent Phase 3 Trial Results - Key Phase 3 trial results for efzimfotase alfa (HICKORY and CHESTNUT trials) are expected in the second half of 2025, which could further influence market valuation.

Goldman Sachs Elevates AstraZeneca Price Target Amidst Drug Anticipation

Goldman Sachs has reaffirmed its Conviction Buy rating on AstraZeneca PLC (AZN), concurrently raising its price target for the pharmaceutical giant from GBP148.83 to GBP150.13 on September 16, 2025. This upward revision signals increased confidence in AstraZeneca's pipeline, specifically highlighting the significant commercial potential of efzimfotase alfa, an investigational enzyme replacement therapy for hypophosphatasia (HPP). The adjustment comes as the market awaits crucial Phase 3 trial results for this key drug candidate.

Detailed Assessment of Efzimfotase Alfa's Commercial Outlook

Efzimfotase alfa (ALXN-1850), developed by Alexion Pharmaceuticals (a subsidiary of AstraZeneca), is poised to address hypophosphatasia, a rare and severe metabolic bone disease. Goldman Sachs has projected unrisked peak sales for efzimfotase alfa at $3.7 billion, a figure that stands 85% higher than the current consensus estimates of $2 billion. While this forecast resides at the lower end of management's guidance range of $3-5 billion, it underscores the perceived undervaluation of the drug's economic potential within the market.

"The investment bank believes the commercial potential of efzimfotase alfa is