Brokerages Set AstraZeneca PLC (NASDAQ:AZN) PT at $89.75

AstraZeneca PLC (NASDAQ:AZN) has been given a consensus recommendation of “Moderate Buy” by the twelve ratings firms that are currently covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $89.75.

AZN has been the subject of several research reports. Deutsche Bank Aktiengesellschaft raised AstraZeneca from a “sell” rating to a “hold” rating in a research note on Wednesday, November 6th. UBS Group raised shares of AstraZeneca from a “sell” rating to a “neutral” rating in a research note on Wednesday, November 20th. TD Cowen increased their price target on AstraZeneca from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Monday, August 12th. Finally, Erste Group Bank raised shares of AstraZeneca from a “hold” rating to a “buy” rating in a research note on Wednesday, September 11th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in AZN. Manning & Napier Advisors LLC bought a new position in shares of AstraZeneca during the second quarter worth about $188,476,000. Bank of Montreal Can lifted its stake in AstraZeneca by 109.6% in the third quarter. Bank of Montreal Can now owns 3,071,333 shares of the company’s stock valued at $238,397,000 after acquiring an additional 1,605,758 shares during the last quarter. Franklin Resources Inc. lifted its stake in AstraZeneca by 8.7% in the 3rd quarter. Franklin Resources Inc. now owns 19,122,675 shares of the company’s stock valued at $1,492,649,000 after purchasing an additional 1,522,715 shares during the last quarter. Hsbc Holdings PLC boosted its stake in shares of AstraZeneca by 750.3% during the 2nd quarter. Hsbc Holdings PLC now owns 1,283,274 shares of the company’s stock worth $100,523,000 after acquiring an additional 1,132,362 shares during the period. Finally, Farallon Capital Management LLC boosted its position in AstraZeneca by 65.1% during the second quarter. Farallon Capital Management LLC now owns 2,409,718 shares of the company’s stock worth $187,934,000 after purchasing an additional 950,000 shares during the period. Institutional investors and hedge funds own 20.35% of the company’s stock.

AstraZeneca Stock Up 1.0 %

Shares of NASDAQ:AZN opened at $68.20 on Monday. The company has a quick ratio of 0.71, a current ratio of 0.93 and a debt-to-equity ratio of 0.71. The firm has a market cap of $211.46 billion, a P/E ratio of 32.63, a P/E/G ratio of 1.25 and a beta of 0.45. AstraZeneca has a 12 month low of $60.47 and a 12 month high of $87.68. The company’s 50-day moving average price is $71.27 and its two-hundred day moving average price is $77.09.

AstraZeneca (NASDAQ:AZN) last released its quarterly earnings results on Tuesday, November 12th. The company reported $1.04 EPS for the quarter, beating the consensus estimate 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 analysts’ expectations of $13.08 billion. During the same period in the prior year, the firm earned $0.87 earnings per share. AstraZeneca’s revenue was up 18.0% compared to the same quarter last year. As a group, research analysts forecast that AstraZeneca will post 4.11 EPS for the current fiscal year.

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.