AstraZeneca (NASDAQ:AZN) Upgraded to Buy at Erste Group Bank

AstraZeneca (NASDAQ:AZN) was upgraded by Erste Group Bank from a “hold” rating to a “buy” rating in a report issued on Wednesday, Benzinga reports.

A number of other research analysts have also recently issued reports on AZN. Citigroup upgraded shares of AstraZeneca to a “strong-buy” rating in a report on Monday, June 24th. Argus lifted their price target on shares of AstraZeneca from $80.00 to $85.00 and gave the stock a “buy” rating in a research report on Thursday, May 30th. The Goldman Sachs Group assumed coverage on shares of AstraZeneca in a research report on Thursday, May 30th. They issued a “buy” rating and a $97.00 price objective for the company. TD Cowen lifted their target price on AstraZeneca from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Monday, August 12th. Finally, Barclays raised AstraZeneca to a “strong-buy” rating in a research note on Monday, June 24th. Two equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $89.75.

AstraZeneca Stock Performance

Shares of AstraZeneca stock opened at $78.96 on Wednesday. The firm has a fifty day moving average of $81.69 and a two-hundred day moving average of $76.01. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.69 and a current ratio of 0.89. The stock has a market capitalization of $244.82 billion, a price-to-earnings ratio of 38.71, a PEG ratio of 1.57 and a beta of 0.47. AstraZeneca has a 52 week low of $60.47 and a 52 week high of $87.68.

AstraZeneca (NASDAQ:AZN) last released its quarterly earnings data on Thursday, July 25th. The company reported $0.99 EPS for the quarter, beating analysts’ consensus estimates of $0.98 by $0.01. The business had revenue of $12.45 billion during the quarter, compared to the consensus estimate of $12.62 billion. AstraZeneca had a return on equity of 29.34% and a net margin of 13.11%. The firm’s revenue was up 9.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.08 earnings per share. As a group, equities research analysts predict that AstraZeneca will post 4.05 EPS for the current year.

Hedge Funds Weigh In On AstraZeneca

Hedge funds have recently made changes to their positions in the business. Assetmark Inc. boosted its position in AstraZeneca by 11.2% during the fourth quarter. Assetmark Inc. now owns 154,906 shares of the company’s stock valued at $10,433,000 after purchasing an additional 15,642 shares during the last quarter. Cox Capital Mgt LLC acquired a new stake in shares of AstraZeneca in the 1st quarter valued at approximately $2,683,000. TD Asset Management Inc grew its stake in shares of AstraZeneca by 8.6% in the first quarter. TD Asset Management Inc now owns 1,537,410 shares of the company’s stock valued at $104,160,000 after buying an additional 121,876 shares in the last quarter. Northcape Wealth Management LLC acquired a new position in AstraZeneca during the second quarter worth $269,000. Finally, Wealthcare Advisory Partners LLC raised its position in AstraZeneca by 9.7% during the first quarter. Wealthcare Advisory Partners LLC now owns 6,136 shares of the company’s stock worth $416,000 after acquiring an additional 543 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.