AstraZeneca plc (AZN) Trading 2.1% Higher on Analyst Upgrade
AstraZeneca plc (LON:AZN)’s share price traded up 2.1% on Monday after Jefferies Group raised their price target on the stock from GBX 4,350 to GBX 4,800. Jefferies Group currently has a hold rating on the stock. AstraZeneca plc traded as high as GBX 4,943.50 ($63.84) and last traded at GBX 4,890 ($63.15). 3,825,582 shares traded hands during trading, an increase of 77% from the average session volume of 2,160,170 shares. The stock had previously closed at GBX 4,790 ($61.86).
Several other equities analysts have also weighed in on the stock. Societe Generale restated a “buy” rating on shares of AstraZeneca plc in a research report on Monday. Bryan, Garnier & Co upgraded shares of AstraZeneca plc to a “buy” rating and raised their target price for the stock from GBX 4,700 ($60.70) to GBX 5,380 ($69.48) in a report on Monday. Goldman Sachs Group, Inc. (The) reiterated a “sell” rating and issued a GBX 3,800 ($49.08) target price on shares of AstraZeneca plc in a report on Monday. Deutsche Bank AG raised their target price on shares of AstraZeneca plc from GBX 5,300 ($68.45) to GBX 5,600 ($72.32) and gave the stock a “buy” rating in a report on Monday. Finally, HSBC Holdings plc reiterated a “reduce” rating and issued a GBX 4,100 ($52.95) target price on shares of AstraZeneca plc in a report on Monday. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and ten have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of GBX 4,963.82 ($64.11).
In other news, insider Nazneen Rahman purchased 39 shares of the company’s stock in a transaction dated Thursday, July 27th. The shares were bought at an average price of GBX 4,370 ($56.44) per share, with a total value of £1,704.30 ($2,201.08).
The company’s 50-day moving average price is GBX 4,571.40 and its 200-day moving average price is GBX 4,878.32. The stock’s market cap is GBX 61.91 billion.
AstraZeneca plc (LON:AZN) last released its quarterly earnings data on Wednesday, July 26th. The biopharmaceutical company reported $1.86 EPS for the quarter, beating the consensus estimate of $0.85 by $1.01. AstraZeneca plc had a return on equity of 14.36% and a net margin of 8.83%. On average, equities research analysts forecast that AstraZeneca plc will post $3.75 EPS for the current year.
The business also recently disclosed a dividend, which was paid on Monday, September 11th. Stockholders of record on Thursday, August 10th were issued a GBX 68.90 ($0.89) dividend. This represents a dividend yield of 1.35%. The ex-dividend date of this dividend was Thursday, August 10th.
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AstraZeneca plc Company Profile
AstraZeneca PLC (AstraZeneca) is a biopharmaceutical company. The Company focuses on discovery and development of products, which are then manufactured, marketed and sold. The Company focuses on three main therapy areas: Oncology, Cardiovascular & Metabolic Disease (CVMD) and Respiratory, while selectively pursuing therapies in Autoimmunity, Infection and Neuroscience.
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