UBS Group Upgrades AstraZeneca (NASDAQ:AZN) to Neutral

AstraZeneca (NASDAQ:AZN) was upgraded by analysts at UBS Group from a “sell” rating to a “neutral” rating in a report released on Wednesday, MarketBeat reports.

A number of other research analysts also recently commented on the stock. Deutsche Bank Aktiengesellschaft raised shares of AstraZeneca from a “sell” rating to a “hold” rating in a research report on Wednesday, November 6th. TD Cowen boosted their price objective on shares of AstraZeneca from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Monday, August 12th. Finally, Erste Group Bank upgraded AstraZeneca from a “hold” rating to a “buy” rating in a report on Wednesday, September 11th. Three research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $89.75.

AstraZeneca Stock Up 1.5 %

Shares of NASDAQ:AZN opened at $64.13 on Wednesday. The business’s 50 day moving average is $73.69 and its 200 day moving average is $77.86. The stock has a market cap of $198.83 billion, a P/E ratio of 30.68, a price-to-earnings-growth ratio of 1.17 and a beta of 0.47. AstraZeneca has a 52-week low of $60.47 and a 52-week 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.

AstraZeneca (NASDAQ:AZN) last posted its quarterly earnings results on Tuesday, November 12th. The company reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.01 by $0.03. The business had revenue of $13.57 billion for the quarter, compared to the consensus estimate of $13.08 billion. AstraZeneca had a return on equity of 30.01% and a net margin of 12.68%. The business’s revenue was up 18.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.87 EPS. Sell-side analysts predict that AstraZeneca will post 4.1 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. McClarren Financial Advisors Inc. increased its position in shares of AstraZeneca by 320.8% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 324 shares of the company’s stock valued at $25,000 after acquiring an additional 247 shares during the period. GHP Investment Advisors Inc. purchased a new position in shares of AstraZeneca in the second quarter worth about $26,000. Capital Performance Advisors LLP acquired a new stake in shares of AstraZeneca during the third quarter worth about $28,000. Pathway Financial Advisers LLC acquired a new stake in shares of AstraZeneca during the first quarter worth about $29,000. Finally, CANADA LIFE ASSURANCE Co increased its holdings in AstraZeneca by 40.6% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 506 shares of the company’s stock worth $34,000 after buying an additional 146 shares during the period. 20.35% of the stock is owned by institutional investors and hedge funds.

AstraZeneca Company Profile

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.