AstraZeneca plc (NYSE: AZN) stock tumbled after the company announced the failure of an important clinical trial recently. Although the shares have recovered somewhat, the stock is still off by about 11%, and investors are right to wonder if now is a good time to buy.
Now that it's clear Imfinzi won't become a treatment option for newly diagnosed lung cancer patients, AstraZeneca probably won't hit the ambitious revenue target the company reiterated earlier this year. Luckily for investors, other facets of the company's comeback strategy continue to sparkle. Now that the future is a bit less hazy, let's take a look forward to see if the market has pounded this big pharma stock down into value territory.
Deciding whether or not to buy a stock dip can be terribly frustrating. Image source: Getty Images.
Source: Fool.com