AstraZeneca (NASDAQ:AZN) PT Raised to $82.00

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

Several other equities research analysts have also commented on AZN. Morgan Stanley began coverage on shares of AstraZeneca in a research note on Tuesday, January 23rd. They set an “overweight” rating on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of AstraZeneca from a “sell” rating to a “hold” rating in a research note on Tuesday, April 16th. Finally, Jefferies Financial Group lowered shares of AstraZeneca from a “buy” rating to a “hold” rating in a research note on Wednesday, January 3rd. Three investment analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $81.00.

AstraZeneca Stock Up 0.6 %

AZN traded up $0.43 during trading hours on Friday, hitting $75.46. 3,987,162 shares of the company’s stock were exchanged, 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 firm has a 50 day moving average of $67.05 and a 200 day moving average of $66.02. The firm has a market cap of $233.96 billion, a P/E ratio of 39.29, a price-to-earnings-growth ratio of 1.31 and a beta of 0.50. The company has a current ratio of 0.82, a quick ratio of 0.64 and a debt-to-equity ratio of 0.57.

AstraZeneca (NASDAQ:AZN) last released its quarterly earnings data 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 firm had revenue of $12.02 billion for the quarter, compared to analysts’ expectations of $12.07 billion. AstraZeneca had a return on equity of 30.19% and a net margin of 13.00%. AstraZeneca’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same period last year, the firm posted $0.69 earnings per share. Analysts predict that AstraZeneca will post 4 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Sage Rhino Capital LLC increased its stake in shares of AstraZeneca by 2.2% during the first quarter. Sage Rhino Capital LLC now owns 11,628 shares of the company’s stock worth $788,000 after acquiring an additional 246 shares during the period. Mitchell & Pahl Private Wealth LLC boosted its holdings in AstraZeneca by 5.7% during the first quarter. Mitchell & Pahl Private Wealth LLC now owns 13,262 shares of the company’s stock worth $899,000 after buying an additional 717 shares in the last quarter. Mesirow Financial Investment Management Inc. purchased a new stake in AstraZeneca during the first quarter worth about $705,000. Verdence Capital Advisors LLC boosted its holdings in AstraZeneca by 5.3% during the first quarter. Verdence Capital Advisors LLC now owns 17,344 shares of the company’s stock worth $1,175,000 after buying an additional 872 shares in the last quarter. Finally, Meridian Wealth Management LLC boosted its holdings in AstraZeneca by 22.4% during the first quarter. Meridian Wealth Management LLC now owns 11,148 shares of the company’s stock worth $755,000 after buying an additional 2,042 shares in the last quarter. 20.35% of the stock is currently owned by institutional investors and hedge funds.

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.