AstraZeneca Plc has recently received an upgrade from UBS Group AG, shifting its analyst sentiment from sell to neutral. This upgrade marks the end of bearish ratings for the pharmaceutical company.

AstraZeneca"s stock experienced a significant decline of around 10% this month, resulting in a loss of over $20 billion in market value. However, following the upgrade, the company"s shares rose by as much as 1.3%. AstraZeneca has faced challenges due to an investigation in China regarding alleged illegal importation of cancer drugs and data privacy breaches, which has affected investor confidence.

Despite these ongoing issues, UBS analyst Matthew Weston expressed optimism, highlighting recent approval actions from the China National Medical Products Administration as a sign of continued long-term support for AstraZeneca in the Chinese market. Weston acknowledged the uncertainty surrounding the situation but considered the complete loss of AstraZeneca"s franchise as highly unlikely. Other financial institutions, such as Nordea Bank Abp and Intron Health, have also upgraded their ratings to buy, suggesting that the recent decline in AstraZeneca"s stock may have been exaggerated.