AstraZeneca · the Q3 report moves analysts north
Ten houses have published a share price target after AstraZeneca's report of 30 October, covering the Q3 and the first nine months (9M) of the year. The median target sits 18.1 per cent above the current share price of 1,838.00 SEK, and all but one of the targets are above the share price.
Snapshot as of 10 November 2026
All public targets
The panel lists seventeen analyst houses with a dated public target or rating for AstraZeneca in the last twelve months. Out of these, ten analyst houses published an updated target after the 9M and Q3 2026 report of 30 October 2026 [1], and are included in this consensus analysis.
The remaining seven are listed below the table divider and are excluded from the aggregates.
The houses do not publish in a single currency. The Target and Previous columns show each figure as published. The SEK column converts the sterling targets at the Riksbank reference rate of 13.15578 SEK per pound for 10 November 2026 [5] and is BioStock's calculation, not the house's.
| House | Previous | Target | SEK | Rec. | Last |
|---|---|---|---|---|---|
| Bernstein [9] | 198 GBP | 205 GBP | 2,697 | Buy | 3 Nov |
| Citigroup [7] | 186 GBP | 189 GBP | 2,486 | Buy | 2 Nov |
| Goldman Sachs [10] | 166.01 GBP | 175.80 GBP | 2,313 | Buy | 3 Nov |
| Jefferies [12] | 175 GBP | 175 GBP | 2,302 | Buy | 5 Nov |
| Barclays [6] | 160 GBP | 170 GBP | 2,236 | Buy | 2 Nov |
| UBS [6] | 152 GBP | 160 GBP | 2,105 | Buy | 2 Nov |
| Nordea [6] | 1,900 SEK | 2,050 SEK | 2,050 | Buy | 2 Nov |
| SB1 Markets [6] | 2,025 SEK | 2,050 SEK | 2,050 | Buy | 2 Nov |
| RBC Capital Markets [8] | 145 GBP | 152.50 GBP | 2,006 | Buy | 2 Nov |
| Deutsche Bank [13] | 117 GBP | 120 GBP | 1,579 | Hold | 9 Nov |
| J.P. Morgan [14] pre-report | 160 GBP | 160 GBP | 2,105 | Buy | 26 Oct |
| Arctic Securities [15] pre-report | – | 154.36 GBP | 2,031 | Buy | 23 Oct |
| Berenberg [18] pre-report | 160 GBP | 150 GBP | 1,973 | Buy | 15 Sep |
| HSBC [19] pre-report | – | 137.50 GBP | 1,809 | Hold | 13 Jul |
| Kepler Cheuvreux [17] pre-report | 113 GBP | 129 GBP | 1,697 | Hold | 18 Sep |
| DZ Bank [11] no target | – | no target | n/a | Buy | 3 Nov |
| Shore Capital [20] pre-report | – | no target | n/a | Hold | 13 Feb |
pre-report Published before the 9M and Q3 2026 report of 30 October 2026; excluded from the mean, median and range.
Ratings are shown normalised to Buy, Hold or Sell. Bernstein publishes Outperform, shown as Buy. Barclays publishes Overweight, shown as Buy. RBC Capital Markets publishes Outperform, shown as Buy.
DZ Bank's notice of 3 November gives a rating without a target figure, so it is excluded although it post-dates the report. Shore Capital carries a rating without a public target.
Scroll the table sideways to see every column.
Where the panel sits
The share closed at 1,838.00 SEK on 10 November 2026. The ten included targets run from 1,579 SEK (Deutsche Bank) to 2,697 SEK (Bernstein), a range of 1,118 SEK. The median, 2,171 SEK, sits 18.1 per cent above the close, and the mean, 2,182 SEK, 18.7 per cent above it.
Deutsche Bank is the only house in the analysis whose target sits below the share price, 14.1 per cent under it. The next lowest, RBC Capital Markets at 2,006 SEK, sits 9.2 per cent above the close.
Buy · Hold · Sell
Of the ten houses, nine carry Buy and Deutsche Bank carries Hold.
Three of the nine Buy ratings are published under another label: Outperform at Bernstein, Overweight at Barclays, Outperform at RBC Capital Markets.
Dated events behind the panel
- 17 Aug 2026Volrustomig phase III trial in lung cancer discontinuedAstraZeneca stopped eVOLVE-Lung02, which compared volrustomig plus chemotherapy with pembrolizumab plus chemotherapy as first-line treatment in metastatic non-small cell lung cancer with PD-L1 expression below 50 per cent. The Independent Data Monitoring Committee concluded that the combination was unlikely to meet either dual primary endpoint, progression-free or overall survival, in the PD-L1 below 1 per cent population. The trial enrolled 895 patients in 25 countries. The other phase III trials of volrustomig, in cervical cancer, head and neck cancer and mesothelioma, continue. [21]
- 11 Sep 2026SERENA-4 misses its primary endpoint in first-line breast cancerEtcamah (camizestrant) plus palbociclib did not meet the primary endpoint of investigator-assessed progression-free survival against anastrozole plus palbociclib in 1,371 patients with untreated ER-positive, HER2-negative advanced breast cancer. AstraZeneca reported a numerical improvement and no new safety findings. Etcamah keeps its approvals based on SERENA-6, and the CAMBRIA-1 and CAMBRIA-2 trials in early breast cancer continue. [22]
- 19 Oct 2026Overall survival data from four phase III trials selected for ESMO Presidential SymposiaAstraZeneca announced that CLARITY-Gastric01 (sonesitatug vedotin), SAFFRON (Tagrisso with Orpathys), DeLLphi-305 (Imfinzi with tarlatamab) and VOLGA (Imfinzi with enfortumab vedotin) would be presented at the ESMO congress of 23 to 27 October. For CLARITY-Gastric01 the company described a statistically significant and clinically meaningful overall survival benefit in previously treated CLDN18.2-positive advanced gastric or gastroesophageal junction cancer. [23]
- 30 Oct 20269M and Q3 2026 report: guidance reconfirmedQ3 total revenue rose 7 per cent to USD 16.21 bn, at actual and constant exchange rates. Core earnings per share rose 17 per cent to USD 2.79, and reported earnings per share 23 per cent to USD 2.02. Oncology revenue rose 17 per cent to USD 7.77 bn. Over the nine months, total revenue reached USD 46.88 bn, up 8 per cent at actual and 7 per cent at constant exchange rates. AstraZeneca reconfirmed its FY 2026 guidance of a mid-to-high single-digit increase in total revenue and a low double-digit increase in core earnings per share at constant exchange rates, and said it intends to raise the annual dividend to USD 3.30 per share. [1]
Three takeaways from the panel
Of the ten included analyst houses, nine raised their target and one (Jefferies) restated an unchanged one. None lowered. The raises average 4.4 per cent, from 1.2 per cent (SB1 Markets) to 7.9 per cent (Nordea).
Three of the seven excluded houses carry Hold, against one of the included ten. Two excluded targets sit below the 1,838.00 SEK close, those of Kepler Cheuvreux (1,697 SEK) and HSBC (1,809 SEK), against one of the included targets.
Targets published after the 9M/Q3 report thus show a more optimistic view on the share compared to those that predate it.
Deutsche Bank moved from Sell to Hold on 15 September [18], and Nordea from Sell to Buy on 13 October [16]. Nordea has since raised its target to 2,050 SEK [6]. None of the seventeen identified analyst houses now carries Sell.
Numbered sources
- AstraZeneca results: 9M and Q3 2026, results announcement
- AstraZeneca results: FY and Q4 2025, results announcement
- AstraZeneca PLC: Total Voting Rights (Form 6-K)
- AstraZeneca (AZN), Nasdaq Stockholm: closing price 1,838.00 SEK
- Exchange rates for 10 November 2026: GBP 13.15578, USD 9.80114
- Today's equity recommendations in overview (Barclays, SB1 Markets, Nordea and UBS on AstraZeneca)
- AstraZeneca results reassure on long-term growth as three brokers raise price targets
- AstraZeneca PLC: Buy rating from RBC
- Today's equity recommendations in overview (Bernstein on AstraZeneca)
- AstraZeneca PLC: Goldman Sachs è per il Buy
- AstraZeneca PLC: DZ Bank keeps its Buy rating
- AstraZeneca PLC: Jefferies reiterates its Buy rating
- Today's equity recommendations in overview (Deutsche Bank on AstraZeneca)
- AstraZeneca PLC: J.P. Morgan reaffirms its Buy rating
- Today's equity recommendations in overview (Arctic on AstraZeneca)
- Today's equity recommendations in overview (Nordea on AstraZeneca)
- Today's equity recommendations in overview (Kepler Cheuvreux on AstraZeneca)
- Today's equity recommendations in overview (Berenberg and Deutsche Bank on AstraZeneca)
- Today's equity recommendations in overview (HSBC on AstraZeneca)
- Today's equity recommendations in overview (Shore Capital on AstraZeneca)
- Update on eVOLVE-Lung02 phase III trial of volrustomig plus chemotherapy in metastatic non-small cell lung cancer
- Update on SERENA-4 phase III trial
- AstraZeneca to present overall survival data from four pivotal phase III trials in Presidential Symposia at ESMO 2026
How the report was compiled
Selection Consensus is compiled from publicly available target prices as of 10 November 2026 and referenced against the closing price of 1,838.00 SEK on Nasdaq Stockholm on that date. [4] Each house in the panel is matched to the dated notice of its latest published target or rating. Houses whose latest target could not be matched to such a notice are left out, so coverage of the issuer is wider than the panel shown. Sell-side houses only; independent research sold to end investors is outside the panel.
Mean, median and range are computed across houses whose target was published after the issuer's most recent interim report, the 9M and Q3 2026 report of 30 October 2026, or within 90 days of the snapshot date, whichever window is the shorter. Here that is the report window. Older entries, and a notice inside the window that gives a rating without a target, are listed in the panel and excluded from the aggregates.
Price and valuation basis AstraZeneca is listed in London, Stockholm and New York, and the covering houses do not publish in a single currency. Each house's target is shown as published. The SEK column is BioStock's own conversion at the Riksbank reference rate of 13.15578 SEK per pound sterling for 10 November 2026; no house has published the converted figure. [5] All aggregates, the range and the upside percentages are stated in SEK.
Market capitalisation is 1,551,065,237 ordinary shares valued at the Stockholm close of 1,838.00 SEK. The share count is at 31 October 2026, published on 2 November 2026; the company holds no shares in treasury. [3]
The price-earnings ratio is on trailing twelve months of reported earnings per share: USD 6.60 for FY 2025 [2], less USD 5.10 for 9M 2025, plus USD 5.62 for 9M 2026 [1], giving USD 7.12. Converted at the Riksbank reference rate of 9.80114 SEK per US dollar for 10 November 2026, that is 69.78 SEK, and 1,838.00 SEK divided by it gives 26.3. [5]
Ratings Buy, Hold and Sell are normalised from each house's own scale: Buy, Overweight and Outperform to Buy; Hold, Neutral and Market Perform to Hold; Sell, Underweight and Underperform to Sell. The recommendation breakdown counts the ten included houses.
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