Berenberg Bank Raises AstraZeneca (LON:AZN) Price Target to £130

AstraZeneca (LON:AZN) had its price target increased by Berenberg Bank from £120 ($150.75) to £130 ($163.32) in a report published on Friday morning, Marketbeat Ratings reports. The brokerage currently has a buy rating on the biopharmaceutical company’s stock.

Several other brokerages also recently commented on AZN. Jefferies Financial Group restated a hold rating and issued a £110 ($138.19) price target on shares of AstraZeneca in a research report on Friday, February 16th. Deutsche Bank Aktiengesellschaft reiterated a hold rating and issued a £105 ($131.91) price objective on shares of AstraZeneca in a research note on Tuesday, April 23rd. JPMorgan Chase & Co. restated an overweight rating on shares of AstraZeneca in a report on Thursday, April 4th. Shore Capital restated a buy rating on shares of AstraZeneca in a report on Monday, April 15th. Finally, BMO Capital Markets restated an outperform rating on shares of AstraZeneca in a report on Monday, February 12th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of Moderate Buy and a consensus target price of £117.57 ($147.70).

AstraZeneca Stock Up 0.6 %

Shares of LON:AZN traded up GBX 68 ($0.85) during midday trading on Friday, reaching £121.18 ($152.24). The company had a trading volume of 2,186,125 shares, compared to its average volume of 2,210,976. The stock’s fifty day moving average price is £108.03 and its 200-day moving average price is £104.95. AstraZeneca has a one year low of GBX 9,461 ($118.86) and a one year high of £124.88 ($156.88). The stock has a market capitalization of £187.83 billion, a P/E ratio of 3,746.75, a PEG ratio of 0.93 and a beta of 0.19. The company has a debt-to-equity ratio of 92.51, a current ratio of 0.89 and a quick ratio of 0.59.

AstraZeneca Increases Dividend

The company also recently declared a dividend, which was paid on Monday, March 25th. Stockholders of record on Thursday, February 22nd were issued a GBX 156 ($1.96) dividend. This represents a dividend yield of 1.49%. This is an increase from AstraZeneca’s previous dividend of $71.80. The ex-dividend date was Thursday, February 22nd. AstraZeneca’s dividend payout ratio is presently 7,058.82%.

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.