Per an article by Seeking Alpha (“SA”), AstraZeneca AZN dismissed a media report that claimed it may shift its vaccine manufacturing site from the U.K. to the United States.
This reported denial comes in response to last week's article by the Financial Times (“FT”), which claimed that discussions between AstraZeneca and the U.K. government concerning state aid had hit an impasse. This report, which cited multiple unknown sources, claimed that chancellor Rachel Reeves was looking to reduce the amount of state support from around £90 million to £40 million.
FT claimed that the management was considering this relocation to avail more financial incentives in the United States. The FT report also claimed that the company was also considering moving its manufacturing operations to India.
Year to date, shares of AstraZeneca have increased 28.7% compared with the industry‘s 27.4% growth.
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The SA article claims that AstraZeneca remains ‘in constructive discussions with the U.K. government’ over the development of a vaccine facility in Speke, Liverpool. Management dismissed the rumor, stating that it does ‘not seem to be based on facts.’
Reuters also issued an article concerning this news and quoted an AstraZeneca spokesperson saying ‘there are no discussions in the US or India.’
AstraZeneca PLC Price
AstraZeneca PLC price | AstraZeneca PLC Quote
Zacks Rank & Key Picks
AstraZeneca carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the overall healthcare sector include Arcturus Therapeutics ARCT, Bioventus BVS and Fulcrum Therapeutics FULC, each sporting a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
In the past 60 days, estimates for Arcturus Therapeutics’ 2024 loss per share have improved from $4.39 to $2.60. Estimates for 2025 have improved from a loss of 45 cents to earnings of 21 cents per share during the same period. Year to date, shares of Arcturus Therapeutics have lost 30.3%.
Earnings of Arcturus Therapeutics beat estimates in each of the last four quarters. Arcturus delivered a four-quarter average earnings surprise of 56.73%.
In the past 60 days, estimates for Bioventus’ 2024 earnings per share have risen from 27 cents to 40 cents. Estimates for 2025 have increased from 43 cents to 45 cents during the same period. Year to date, shares of Bioventus have surged 88.2%.
BVS’ earnings beat estimates in three of the last four quarters and missed the mark on one occasion. Bioventus delivered a four-quarter average earnings surprise of 102.86%.
In the past 60 days, estimates for Fulcrum Therapeutics’ 2024 loss per share have improved from $1.24 to 48 cents. Estimates for 2025 have improved from $1.71 to $1.51 during the same period. Year to date, shares of Fulcrum Therapeutics have rallied 35.9%.
Earnings of Fulcrum Therapeutics beat estimates in each of the last four quarters. Fulcrum delivered a four-quarter average earnings surprise of 393.18%.
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