Stock Traders Buy Large Volume of Call Options on AstraZeneca (NASDAQ:AZN)

AstraZeneca PLC (NASDAQ:AZN) saw unusually large options trading on Monday. Stock traders bought 8,615 call options on the company. This represents an increase of 13% compared to the average volume of 7,609 call options.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. TD Cowen increased their price target on AstraZeneca from $90.00 to $95.00 and gave the company a “buy” rating in a report on Monday, August 12th. Erste Group Bank upgraded AstraZeneca from a “hold” rating to a “buy” rating in a research note on Wednesday, September 11th. Finally, Deutsche Bank Aktiengesellschaft lowered AstraZeneca from a “hold” rating to a “sell” rating in a research report on Friday, September 13th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $89.75.

Institutional Investors Weigh In On AstraZeneca

Hedge funds have recently added to or reduced their stakes in the stock. McClarren Financial Advisors Inc. raised its position in shares of AstraZeneca by 320.8% during the 3rd quarter. McClarren Financial Advisors Inc. now owns 324 shares of the company’s stock worth $25,000 after buying an additional 247 shares in the last quarter. GHP Investment Advisors Inc. acquired a new position in AstraZeneca in the 2nd quarter valued at approximately $26,000. Capital Performance Advisors LLP acquired a new position in AstraZeneca in the 3rd quarter valued at approximately $28,000. Pathway Financial Advisers LLC acquired a new position in AstraZeneca in the 1st quarter valued at approximately $29,000. Finally, RFP Financial Group LLC increased its stake in shares of AstraZeneca by 56.3% during the 1st quarter. RFP Financial Group LLC now owns 494 shares of the company’s stock worth $33,000 after purchasing an additional 178 shares during the last quarter. 20.35% of the stock is currently owned by institutional investors.

AstraZeneca Stock Down 7.2 %

Shares of NASDAQ:AZN opened at $66.27 on Wednesday. The company’s fifty day moving average is $78.87 and its two-hundred day moving average is $78.77. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.69 and a current ratio of 0.89. AstraZeneca has a 1-year low of $60.47 and a 1-year high of $87.68. The stock has a market capitalization of $205.48 billion, a price-to-earnings ratio of 32.01, a price-to-earnings-growth ratio of 1.32 and a beta of 0.47.

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.