AstraZeneca (NASDAQ:AZN) Price Target Raised to $82.00

AstraZeneca (NASDAQ:AZN) had its price target hoisted by equities researchers at BMO Capital Markets from $80.00 to $82.00 in a research report issued on Friday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. BMO Capital Markets’ price objective indicates a potential upside of 8.67% from the stock’s current price.

A number of other research analysts also recently issued reports on AZN. Jefferies Financial Group downgraded AstraZeneca from a “buy” rating to a “hold” rating in a report on Wednesday, January 3rd. Morgan Stanley initiated coverage on AstraZeneca in a report on Tuesday, January 23rd. They set an “overweight” rating for the company. Finally, Deutsche Bank Aktiengesellschaft raised AstraZeneca from a “sell” rating to a “hold” rating in a research report on Tuesday, April 16th. Three investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $81.00.

AstraZeneca Trading Up 0.6 %

Shares of AstraZeneca stock traded up $0.43 during trading hours on Friday, hitting $75.46. The company’s stock had a trading volume of 3,987,162 shares, compared to its average volume of 6,231,255. AstraZeneca has a 12 month low of $60.47 and a 12 month high of $75.81. The stock has a 50 day moving average of $67.05 and a 200 day moving average of $66.02. The company has a market capitalization of $233.96 billion, a PE ratio of 39.29, a price-to-earnings-growth ratio of 1.31 and a beta of 0.50. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.82 and a quick ratio of 0.64.

AstraZeneca (NASDAQ:AZN) last announced its quarterly earnings results on Thursday, February 8th. The company reported $0.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.01). The business had revenue of $12.02 billion during the quarter, compared to the consensus estimate of $12.07 billion. AstraZeneca had a return on equity of 30.19% and a net margin of 13.00%. The firm’s revenue was up 7.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.69 earnings per share. Analysts predict that AstraZeneca will post 4 earnings per share for the current year.

Hedge Funds Weigh In On AstraZeneca

Hedge funds have recently added to or reduced their stakes in the stock. Anchor Investment Management LLC acquired a new position in AstraZeneca in the 4th quarter worth about $26,000. Compagnie Lombard Odier SCmA bought a new stake in shares of AstraZeneca during the 4th quarter valued at about $27,000. Able Wealth Management LLC acquired a new position in AstraZeneca during the 4th quarter worth approximately $27,000. Nemes Rush Group LLC raised its stake in AstraZeneca by 375.6% during the 3rd quarter. Nemes Rush Group LLC now owns 428 shares of the company’s stock worth $29,000 after buying an additional 338 shares during the period. Finally, Pin Oak Investment Advisors Inc. raised its stake in AstraZeneca by 468.4% during the 4th quarter. Pin Oak Investment Advisors Inc. now owns 449 shares of the company’s stock worth $30,000 after buying an additional 370 shares during the period. Institutional investors own 20.35% of the company’s stock.

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.