AstraZeneca Stock Downgraded on Drug Trial Results

Biopharmaceutical stock AstraZeneca PLC (NASDAQ:AZN) is 1.3% lower before the open, after a bear note from Deutsche Bank. The analyst downgraded AZN to "sell" from "hold" and lowered its price target, pointing to the company's results from a lung cancer trial that showed its experimental precision drug did not improve overall survival.Coming into today, most analysts were bullish on AstraZeneca stock. Of the 14 in coverage, 11 rated it a "buy" or better, and the 12-month average target price of $90.89 is a ...