AstraZeneca PLC (NASDAQ:AZN) Receives $89.75 Consensus Target Price from Brokerages

AstraZeneca PLC (NASDAQ:AZN) has earned an average recommendation of “Moderate Buy” from the eleven brokerages that are presently covering the firm, MarketBeat reports. Three equities research analysts have rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $89.75.

AZN has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft raised AstraZeneca from a “sell” rating to a “hold” rating in a research report on Wednesday, November 6th. UBS Group upgraded AstraZeneca from a “sell” rating to a “neutral” rating in a research note on Wednesday, November 20th. Finally, Erste Group Bank upgraded shares of AstraZeneca from a “hold” rating to a “buy” rating in a research note on Wednesday, September 11th.

AstraZeneca Stock Down 0.4 %

NASDAQ AZN opened at $66.26 on Friday. AstraZeneca has a 12 month low of $60.47 and a 12 month high of $87.68. The company’s 50 day simple moving average is $67.85 and its 200 day simple moving average is $75.77. The company has a market capitalization of $205.45 billion, a P/E ratio of 31.70, a PEG ratio of 1.19 and a beta of 0.45. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.93 and a quick ratio of 0.71.

AstraZeneca (NASDAQ:AZN) last issued its 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 during the quarter, compared to analysts’ expectations of $13.08 billion. AstraZeneca had a return on equity of 30.01% and a net margin of 12.68%. AstraZeneca’s revenue was up 18.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.87 earnings per share. Equities research analysts expect that AstraZeneca will post 4.11 earnings per share for the current fiscal year.

Hedge Funds Weigh In On AstraZeneca

Several institutional investors and hedge funds have recently modified their holdings of AZN. Martin Investment Management LLC increased its position in AstraZeneca by 2.8% during 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 in the last quarter. Integrated Advisors Network LLC boosted its holdings in 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 in the last quarter. Creative Planning grew its position in AstraZeneca by 8.0% in the 3rd quarter. Creative Planning now owns 224,751 shares of the company’s stock valued at $17,510,000 after purchasing an additional 16,692 shares during the period. Soros Fund Management LLC boosted its stake in AstraZeneca by 8.2% during the 3rd quarter. Soros Fund Management LLC now owns 2,652,771 shares of the company’s stock valued at $206,677,000 after purchasing an additional 201,233 shares during the last quarter. Finally, Optas LLC grew its stake in shares of AstraZeneca by 173.5% in the 3rd quarter. Optas LLC now owns 15,570 shares of the company’s stock worth $1,213,000 after acquiring an additional 9,877 shares in the last quarter. 20.35% of the stock is currently owned by institutional investors and hedge funds.

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.