AstraZeneca PLC (NASDAQ:AZN) Receives Average Rating of “Moderate Buy” from Brokerages

AstraZeneca PLC (NASDAQ:AZN) has been given an average recommendation of “Moderate Buy” by the eleven ratings firms that are covering the company, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold recommendation, six have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $88.00.

Several equities analysts have recently weighed in on the company. BMO Capital Markets increased their price target on AstraZeneca from $80.00 to $82.00 and gave the company an “outperform” rating in a report on Friday, April 26th. Barclays raised AstraZeneca to a “strong-buy” rating in a report on Monday, June 24th. Argus increased their price target on AstraZeneca from $80.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, May 30th. The Goldman Sachs Group assumed coverage on AstraZeneca in a report on Thursday, May 30th. They set a “buy” rating and a $97.00 price target on the stock. Finally, Citigroup raised AstraZeneca to a “strong-buy” rating in a report on Monday, June 24th.

AstraZeneca Stock Performance

Shares of AZN opened at $76.80 on Friday. The business’s fifty day simple moving average is $77.95 and its two-hundred day simple moving average is $70.68. The company has a current ratio of 0.89, a quick ratio of 0.70 and a debt-to-equity ratio of 0.73. AstraZeneca has a 12 month low of $60.47 and a 12 month high of $80.86. The company has a market cap of $238.12 billion, a price-to-earnings ratio of 37.65, a P/E/G ratio of 1.38 and a beta of 0.45.

AstraZeneca (NASDAQ:AZN) last issued its earnings results on Thursday, April 25th. The company reported $1.03 EPS for the quarter, beating the consensus estimate of $0.95 by $0.08. AstraZeneca had a return on equity of 30.42% and a net margin of 13.30%. The business had revenue of $12.68 billion for the quarter, compared to the consensus estimate of $11.92 billion. Research analysts anticipate that AstraZeneca will post 4.04 earnings per share for the current fiscal year.

Institutional Investors Weigh In On AstraZeneca

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Anchor Investment Management LLC purchased a new position in shares of AstraZeneca during the fourth quarter valued at about $26,000. Compagnie Lombard Odier SCmA purchased a new position in shares of AstraZeneca during the fourth quarter valued at about $27,000. Able Wealth Management LLC purchased a new position in shares of AstraZeneca during the fourth quarter valued at about $27,000. Pathway Financial Advisers LLC purchased a new position in shares of AstraZeneca during the first quarter valued at about $29,000. Finally, Pin Oak Investment Advisors Inc. grew its position in shares of AstraZeneca by 468.4% during the fourth quarter. Pin Oak Investment Advisors Inc. now owns 449 shares of the company’s stock valued at $30,000 after purchasing an additional 370 shares in the last quarter. 20.35% of the stock is owned by institutional investors.

About AstraZeneca

AstraZeneca PLC, a biopharmaceutical company, focuses on the discovery, development, manufacture, and commercialization of prescription medicines. The company's marketed products include Tagrisso, Imfinzi, Lynparza, Calquence, Enhertu, Orpathys, Truqap, Zoladex, Faslodex, Farxiga, Brilinta, Lokelma, Roxadustat, Andexxa, Crestor, Seloken, Onglyza, Bydureon, Fasenra, Breztri, Symbicort, Saphnelo, Tezspire, Pulmicort, Bevespi, and Daliresp for cardiovascular, renal, metabolism, and oncology.