Astrazeneca (AZN) has become technically an oversold stock now, which implies exhaustion of the heavy selling pressure on it. This, combined with strong agreement among Wall Street analysts in revising earnings estimates higher, indicates a potential trend reversal for the stock in the near term.
AZN inks an agreement with CSPC Pharmaceutical to develop a novel lipid-lowering therapy targeting various cardiovascular diseases.
Eli Lilly, AstraZeneca, Pfizer, Sanofi and Bayer have been highlighted in this Industry Outlook article.