AstraZeneca (AZN) Price Target Backed by Goldman After Baxdrostat Phase 3 Data

Core Insights - AstraZeneca PLC (NASDAQ:AZN) is recognized as one of the top-performing European stocks, particularly following the positive Phase 3 trial results for baxdrostat [1] - Goldman Sachs has reaffirmed its Conviction Buy rating for AstraZeneca after the Phase 3 BaxHTN trial demonstrated that baxdrostat effectively reduced seated systolic blood pressure in a dose-dependent manner [1] - The safety data from the trial indicated that moderate to severe hyperkalemia occurred at rates of 1.1% for both the 2 mg and 1 mg doses, compared to 0% for the placebo [2] - Discontinuation due to adverse reactions was higher for the 2 mg dose at 4.5% and 2.7% for the 1 mg dose, compared to 1.9% for the placebo [2] - AstraZeneca's management highlighted that baxdrostat showed no clinically significant drug-drug interactions, which is crucial for its potential use in clinical trials [3] - The company has a strong reputation in the pharmaceutical sector, particularly in rare disease and cancer treatments, bolstered by its history of medical advancements [3]