AstraZeneca (LON:AZN) Sets New 1-Year High – Here’s Why

AstraZeneca PLC (LON:AZN) shares reached a new 52-week high on Thursday . The stock traded as high as £129.94 and last traded at £127.92, with a volume of 53070020 shares trading hands. The stock had previously closed at £124.50.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a £110 target price on shares of AstraZeneca in a research report on Wednesday, July 30th. Shore Capital reaffirmed a “buy” rating and issued a £145 target price on shares of AstraZeneca in a research report on Thursday. Berenberg Bank raised their target price on AstraZeneca from £142 to £145 and gave the stock a “buy” rating in a research report on Tuesday, October 21st. Finally, JPMorgan Chase & Co. reaffirmed an “overweight” rating on shares of AstraZeneca in a research report on Monday, October 13th. Three equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, AstraZeneca currently has a consensus rating of “Moderate Buy” and an average price target of £135.

AstraZeneca Stock Performance

The company has a market capitalization of £198.38 billion, a P/E ratio of 24.10, a PEG ratio of 0.86 and a beta of 0.17. The stock has a fifty day simple moving average of £121.15 and a 200-day simple moving average of £111.98. The company has a quick ratio of 0.59, a current ratio of 0.93 and a debt-to-equity ratio of 73.83.

Insider Buying and Selling at AstraZeneca

In other news, insider Aradhana Sarin sold 9,563 shares of the firm’s stock in a transaction on Thursday, August 14th. The stock was sold at an average price of £115.12, for a total value of £1,100,892.56. Company insiders own 0.15% of the company’s stock.

AstraZeneca Company Profile

AstraZeneca (LSE/STO/Nasdaq: AZN) is a global, science-led biopharmaceutical company that focuses on the discovery, development and commercialisation of prescription medicines, primarily for the treatment of diseases in three therapy areas – Oncology, Cardiovascular, Renal & Metabolism, and Respiratory & Immunology.