Cowen Reiterates Outperform Rating for AstraZeneca (NYSE:AZN)

AstraZeneca (NYSE:AZN)‘s stock had its “outperform” rating reaffirmed by research analysts at Cowen in a note issued to investors on Monday, The Fly reports. They currently have a $55.00 target price on the stock, up from their previous target price of $48.00. Cowen’s target price would indicate a potential upside of 14.85% from the company’s previous close.

Other equities research analysts also recently issued reports about the stock. Liberum Capital reiterated a “hold” rating on shares of AstraZeneca in a research report on Thursday, October 24th. Leerink Swann started coverage on AstraZeneca in a research report on Friday, November 22nd. They set an “outperform” rating and a $57.00 price target on the stock. Svb Leerink assumed coverage on AstraZeneca in a research note on Friday, November 22nd. They set an “outperform” rating on the stock. Zacks Investment Research cut AstraZeneca from a “strong-buy” rating to a “hold” rating and set a $49.00 price objective for the company. in a report on Thursday, October 3rd. Finally, DZ Bank downgraded AstraZeneca from a “hold” rating to a “sell” rating in a research report on Tuesday, September 3rd. Four equities research analysts have rated the stock with a sell rating, five have issued a hold rating and twelve have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $48.72.

NYSE:AZN opened at $47.89 on Monday. AstraZeneca has a 52 week low of $35.30 and a 52 week high of $49.22. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.70 and a current ratio of 0.92. The firm’s 50-day simple moving average is $47.10 and its 200 day simple moving average is $43.40. The firm has a market cap of $125.68 billion, a price-to-earnings ratio of 27.68, a P/E/G ratio of 1.67 and a beta of 0.47.

AstraZeneca (NYSE:AZN) last posted its quarterly earnings data on Thursday, October 24th. The company reported $0.50 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.45 by $0.05. AstraZeneca had a net margin of 8.42% and a return on equity of 38.63%. The firm had revenue of $6.13 billion during the quarter, compared to the consensus estimate of $6.07 billion. During the same quarter in the previous year, the firm posted $0.71 EPS. The business’s revenue for the quarter was up 14.8% compared to the same quarter last year. Sell-side analysts anticipate that AstraZeneca will post 1.81 EPS for the current year.

In other news, major shareholder Plc Astrazeneca acquired 425,000 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The shares were acquired at an average cost of $19.00 per share, with a total value of $8,075,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Several hedge funds have recently made changes to their positions in AZN. Squarepoint Ops LLC grew its position in AstraZeneca by 48.6% in the third quarter. Squarepoint Ops LLC now owns 150,286 shares of the company’s stock valued at $6,698,000 after acquiring an additional 49,157 shares during the last quarter. Voloridge Investment Management LLC lifted its holdings in shares of AstraZeneca by 49.6% in the third quarter. Voloridge Investment Management LLC now owns 339,200 shares of the company’s stock worth $15,118,000 after acquiring an additional 112,534 shares during the last quarter. Integrated Wealth Concepts LLC boosted its stake in shares of AstraZeneca by 39.6% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 11,132 shares of the company’s stock valued at $496,000 after purchasing an additional 3,158 shares in the last quarter. Parametric Portfolio Associates LLC boosted its stake in shares of AstraZeneca by 7.9% in the 3rd quarter. Parametric Portfolio Associates LLC now owns 2,987,152 shares of the company’s stock valued at $133,137,000 after purchasing an additional 217,690 shares in the last quarter. Finally, EP Wealth Advisors LLC acquired a new stake in shares of AstraZeneca in the 3rd quarter valued at approximately $297,000. Institutional investors and hedge funds own 17.50% of the company’s stock.

AstraZeneca Company Profile

AstraZeneca PLC discovers, develops, and commercializes prescription medicines in the areas of oncology, cardiovascular, renal and metabolism, respiratory, autoimmunity, infection, neuroscience, and gastroenterology worldwide. Its marketed products include Arimidex, Casodex/Cosudex, Calquence, Faslodex, Imfinzi, Iressa, Lynparza, Nolvadex, Tagrisso, and Zoladex for oncology diseases; Atacand1/Atacand HCT/Atacand Plus, Brilinta/Brilique, Crestor, Plendil, Seloken/Toprol-XL, Tenormin, and Zestril for cardiovascular diseases; and Bydureon, Byetta, Farxiga/Forxiga, Kombiglyze XR, Komboglyze, Onglyza, Qtern, Symlin, Xigduo, and Xigduo XR for metabolic diseases.

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Analyst Recommendations for AstraZeneca (NYSE:AZN)

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