Is it time to buy AstraZeneca?

A poor set of results and the resignation of its chief executive have hammered AstraZeneca's share price. So is it now time to buy, or is it a business in terminal decline? Phil Oakley investigates.

AstraZeneca's first quarter results make for grim reading. Sales and profits were worse than analysts expected. On top of that the chief executive has decided to retire rather than face re-election at the annual meeting. It's not surprising that the market has hammered the shares.

But just how bad can things get for the company? Is there a price when you should be buying this stock? Or is it a business in terminal decline?

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Phil spent 13 years as an investment analyst for both stockbroking and fund management companies.

 

After graduating with a MSc in International Banking, Economics & Finance from Liverpool Business School in 1996, Phil went to work for BWD Rensburg, a Liverpool based investment manager. In 2001, he joined ABN AMRO as a transport analyst. After a brief spell as a food retail analyst, he spent five years with ABN's very successful UK Smaller Companies team where he covered engineering, transport and support services stocks.

 

In 2007, Phil joined Halbis Capital Management as a European equities analyst. He began writing for MoneyWeek in 2010.