Baker Avenue Asset Management LP Purchases New Position in AstraZeneca PLC (NASDAQ:AZN)

Baker Avenue Asset Management LP acquired a new position in AstraZeneca PLC (NASDAQ:AZN) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 2,602 shares of the company’s stock, valued at approximately $203,000.

Several other institutional investors also recently bought and sold shares of AZN. Concurrent Investment Advisors LLC boosted its holdings in AstraZeneca by 17.7% in the 1st quarter. Concurrent Investment Advisors LLC now owns 3,498 shares of the company’s stock worth $237,000 after buying an additional 525 shares during the last quarter. US Bancorp DE boosted its holdings in AstraZeneca by 3.9% in the 1st quarter. US Bancorp DE now owns 193,859 shares of the company’s stock worth $13,135,000 after buying an additional 7,230 shares during the last quarter. Avantax Advisory Services Inc. boosted its holdings in AstraZeneca by 15.5% in the 1st quarter. Avantax Advisory Services Inc. now owns 31,206 shares of the company’s stock worth $2,114,000 after buying an additional 4,197 shares during the last quarter. William Blair Investment Management LLC boosted its holdings in shares of AstraZeneca by 2.6% during the 1st quarter. William Blair Investment Management LLC now owns 74,642 shares of the company’s stock worth $5,057,000 after purchasing an additional 1,888 shares during the last quarter. Finally, TD Asset Management Inc boosted its holdings in shares of AstraZeneca by 8.6% during the 1st quarter. TD Asset Management Inc now owns 1,537,410 shares of the company’s stock worth $104,160,000 after purchasing an additional 121,876 shares during the last quarter. 20.35% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. TD Cowen boosted 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. Erste Group Bank upgraded AstraZeneca from a “hold” rating to a “buy” rating in a report on Wednesday, September 11th. Finally, Deutsche Bank Aktiengesellschaft upgraded AstraZeneca from a “sell” rating to a “hold” rating in a report on Wednesday, November 6th. Two investment analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, AstraZeneca currently has an average rating of “Buy” and a consensus target price of $89.75.

AstraZeneca Stock Up 0.6 %

Shares of NASDAQ AZN opened at $65.19 on Wednesday. The firm has a market cap of $202.13 billion, a price-to-earnings ratio of 31.49, a PEG ratio of 1.19 and a beta of 0.47. The company has a quick ratio of 0.69, a current ratio of 0.89 and a debt-to-equity ratio of 0.69. AstraZeneca PLC has a 52-week low of $60.47 and a 52-week high of $87.68. The business’s 50 day moving average is $76.61 and its two-hundred day moving average is $78.54.

AstraZeneca 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.