Leerink Partnrs Raises Earnings Estimates for AstraZeneca

AstraZeneca PLC (NASDAQ:AZN) – Research analysts at Leerink Partnrs lifted their FY2024 EPS estimates for shares of AstraZeneca in a research note issued on Monday, November 18th. Leerink Partnrs analyst A. Berens now expects that the company will post earnings of $4.28 per share for the year, up from their prior estimate of $4.10. The consensus estimate for AstraZeneca’s current full-year earnings is $4.07 per share. Leerink Partnrs also issued estimates for AstraZeneca’s Q4 2024 earnings at $1.21 EPS.

AstraZeneca (NASDAQ:AZN) last announced its quarterly earnings results on Tuesday, November 12th. The company reported $1.04 EPS for the quarter, topping the consensus estimate of $1.01 by $0.03. The business had revenue of $13.57 billion for the quarter, compared to analysts’ expectations of $13.08 billion. AstraZeneca had a net margin of 12.68% and a return on equity of 30.01%. The business’s quarterly revenue was up 18.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.87 EPS.

AZN has been the topic of a number of other reports. Deutsche Bank Aktiengesellschaft upgraded shares of AstraZeneca from a “sell” rating to a “hold” rating in a report on Wednesday, November 6th. Erste Group Bank upgraded shares of AstraZeneca from a “hold” rating to a “buy” rating in a report on Wednesday, September 11th. TD Cowen upped their price target on shares of AstraZeneca from $90.00 to $95.00 and gave the company a “buy” rating in a report on Monday, August 12th. Finally, UBS Group upgraded shares of AstraZeneca from a “sell” rating to a “neutral” rating in a report on Wednesday. Three analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $89.75.

AstraZeneca Stock Performance

AstraZeneca stock opened at $63.20 on Wednesday. The company’s 50-day moving average price is $73.99 and its 200-day moving average price is $77.95. AstraZeneca has a twelve month low of $60.47 and a twelve month high of $87.68. The company has a quick ratio of 0.71, a current ratio of 0.93 and a debt-to-equity ratio of 0.71. The company has a market cap of $195.96 billion, a PE ratio of 30.24, a price-to-earnings-growth ratio of 1.17 and a beta of 0.47.

Institutional Investors Weigh In On AstraZeneca

Hedge funds have recently modified their holdings of the business. Martin Investment Management LLC lifted its position in shares of AstraZeneca by 2.8% in the 3rd quarter. Martin Investment Management LLC now owns 284,204 shares of the company’s stock worth $22,571,000 after purchasing an additional 7,615 shares during the period. Integrated Advisors Network LLC increased its stake in shares of AstraZeneca by 46.6% in the third quarter. Integrated Advisors Network LLC now owns 43,610 shares of the company’s stock worth $3,398,000 after acquiring an additional 13,860 shares during the period. Creative Planning increased its stake in shares of AstraZeneca by 8.0% in the third quarter. Creative Planning now owns 224,751 shares of the company’s stock worth $17,510,000 after acquiring an additional 16,692 shares during the period. Northcape Wealth Management LLC acquired a new stake in AstraZeneca during the second quarter valued at $269,000. Finally, Cetera Advisors LLC grew its position in AstraZeneca by 124.5% during the first quarter. Cetera Advisors LLC now owns 98,262 shares of the company’s stock valued at $6,657,000 after buying an additional 54,488 shares during the period. Hedge funds and other institutional investors own 20.35% of the company’s stock.

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.