Short Interest in AstraZeneca PLC (NASDAQ:AZN) Grows By 74.3%

AstraZeneca PLC (NASDAQ:AZN) saw a significant increase in short interest in the month of November. As of November 15th, there was short interest totalling 8,070,000 shares, an increase of 74.3% from the October 31st total of 4,630,000 shares. Based on an average daily trading volume, of 5,380,000 shares, the days-to-cover ratio is presently 1.5 days.

Institutional Trading of AstraZeneca

Several large investors have recently added to or reduced their stakes in the company. McClarren Financial Advisors Inc. lifted its holdings in shares of AstraZeneca by 320.8% during the third quarter. McClarren Financial Advisors Inc. now owns 324 shares of the company’s stock worth $25,000 after purchasing an additional 247 shares during the period. GHP Investment Advisors Inc. acquired a new stake in AstraZeneca during the 2nd quarter valued at approximately $26,000. Capital Performance Advisors LLP purchased a new stake in shares of AstraZeneca in the 3rd quarter valued at $28,000. Pathway Financial Advisers LLC acquired a new stake in shares of AstraZeneca in the first quarter worth $29,000. Finally, Hobbs Group Advisors LLC purchased a new position in shares of AstraZeneca during the second quarter worth $35,000. Hedge funds and other institutional investors own 20.35% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. UBS Group upgraded AstraZeneca from a “sell” rating to a “neutral” rating in a report on Wednesday, November 20th. Erste Group Bank upgraded AstraZeneca from a “hold” rating to a “buy” rating in a research note on Wednesday, September 11th. TD Cowen boosted their target price on shares of AstraZeneca from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Monday, August 12th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of AstraZeneca from a “sell” rating to a “hold” rating in a report on Wednesday, November 6th. Three investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $89.75.

AstraZeneca Stock Up 1.3 %

Shares of AZN traded up $0.84 during mid-day trading on Thursday, hitting $67.20. 4,986,015 shares of the company traded hands, compared to its average volume of 8,765,457. The business has a 50 day moving average of $72.72 and a 200 day moving average of $77.58. The company has a market capitalization of $208.36 billion, a PE ratio of 32.15, a price-to-earnings-growth ratio of 1.22 and a beta of 0.47. 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 has a 1-year low of $60.47 and a 1-year high of $87.68.

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

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.