Analysts at BMO Capital Markets initiated coverage on shares of Astrazeneca PLC (NYSE:AZN) in a research report issued to clients and investors on Wednesday, September 6th, MarketBeat Ratings reports. The brokerage set an “outperform” rating and a $38.00 price target on the stock. BMO Capital Markets’ target price would indicate a potential upside of 11.93% from the company’s current price.
A number of other research analysts have also recently issued reports on AZN. Credit Suisse Group raised shares of Astrazeneca PLC from an “underperform” rating to a “neutral” rating in a research report on Friday, May 12th. Leerink Swann reissued an “outperform” rating and set a $36.00 price target (up from $33.00) on shares of Astrazeneca PLC in a research report on Wednesday, May 17th. Barclays PLC reaffirmed an “overweight” rating on shares of Astrazeneca PLC in a report on Monday, July 3rd. BidaskClub cut shares of Astrazeneca PLC from a “buy” rating to a “hold” rating in a report on Tuesday, July 11th. Finally, Goldman Sachs Group, Inc. (The) reaffirmed a “sell” rating on shares of Astrazeneca PLC in a report on Thursday, July 13th. Four equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and thirteen have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $34.20.
Astrazeneca PLC (AZN) traded up 3.47% during midday trading on Wednesday, hitting $33.95. 10,233,531 shares of the company were exchanged. Astrazeneca PLC has a 1-year low of $25.55 and a 1-year high of $35.60. The stock has a 50 day moving average of $30.33 and a 200 day moving average of $31.81. The firm has a market capitalization of $85.96 billion, a PE ratio of 22.27 and a beta of 0.74. Astrazeneca PLC also saw some unusual options trading activity on Wednesday. Stock investors purchased 8,259 put options on the company. This is an increase of 1,510% compared to the typical volume of 513 put options.
Astrazeneca PLC (NYSE:AZN) last issued its quarterly earnings results on Thursday, July 27th. The company reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.46. Astrazeneca PLC had a net margin of 17.80% and a return on equity of 35.90%. The company had revenue of $5.05 billion during the quarter, compared to analysts’ expectations of $5.04 billion. During the same period last year, the company posted $0.83 EPS. Astrazeneca PLC’s revenue was down 9.9% on a year-over-year basis. On average, equities analysts predict that Astrazeneca PLC will post $1.90 earnings per share for the current fiscal year.
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Institutional investors and hedge funds have recently bought and sold shares of the business. Meeder Asset Management Inc. bought a new position in shares of Astrazeneca PLC in the second quarter worth approximately $105,000. Salem Investment Counselors Inc. bought a new position in shares of Astrazeneca PLC in the first quarter worth approximately $107,000. Tower Research Capital LLC TRC boosted its position in shares of Astrazeneca PLC by 3,782.0% in the first quarter. Tower Research Capital LLC TRC now owns 3,882 shares of the company’s stock worth $121,000 after purchasing an additional 3,782 shares during the period. WFG Advisors LP boosted its position in shares of Astrazeneca PLC by 36.0% in the second quarter. WFG Advisors LP now owns 3,716 shares of the company’s stock worth $127,000 after purchasing an additional 984 shares during the period. Finally, Parallel Advisors LLC boosted its position in shares of Astrazeneca PLC by 27.1% in the first quarter. Parallel Advisors LLC now owns 4,526 shares of the company’s stock worth $138,000 after purchasing an additional 964 shares during the period. Institutional investors and hedge funds own 14.17% of the company’s stock.
Astrazeneca PLC Company Profile
AstraZeneca PLC (AstraZeneca) is a biopharmaceutical company. The Company focuses on discovery and development of products, which are then manufactured, marketed and sold. The Company focuses on three main therapy areas: Oncology, Cardiovascular & Metabolic Disease (CVMD) and Respiratory, while selectively pursuing therapies in Autoimmunity, Infection and Neuroscience.
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