AstraZeneca (NASDAQ:AZN) Price Target Increased to $85.00 by Analysts at Argus

AstraZeneca (NASDAQ:AZNGet Free Report) had its price target boosted by investment analysts at Argus from $80.00 to $85.00 in a note issued to investors on Thursday, Benzinga reports. The firm presently has a “buy” rating on the stock. Argus’ price target would suggest a potential upside of 10.59% from the company’s current price.

A number of other equities research analysts have also recently issued reports on AZN. BMO Capital Markets upped their price objective on AstraZeneca from $80.00 to $82.00 and gave the stock an “outperform” rating in a research note on Friday, April 26th. The Goldman Sachs Group assumed coverage on AstraZeneca in a research report on Thursday. They set a “buy” rating and a $97.00 price objective on the stock. Finally, Deutsche Bank Aktiengesellschaft raised AstraZeneca from a “sell” rating to a “hold” rating in a report on Tuesday, April 16th. Three equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $88.00.

Read Our Latest Stock Report on AstraZeneca

AstraZeneca Stock Performance

AZN stock traded up $0.78 during midday trading on Thursday, hitting $76.86. The stock had a trading volume of 1,175,039 shares, compared to its average volume of 5,964,748. The firm has a market capitalization of $238.30 billion, a price-to-earnings ratio of 37.63, a P/E/G ratio of 1.37 and a beta of 0.47. AstraZeneca has a 52 week low of $60.47 and a 52 week high of $79.36. The stock has a 50-day simple moving average of $72.48 and a 200 day simple moving average of $68.05. The company has a current ratio of 0.89, a quick ratio of 0.70 and a debt-to-equity ratio of 0.73.

AstraZeneca (NASDAQ:AZNGet Free Report) last released its quarterly earnings data on Thursday, April 25th. The company reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.08. AstraZeneca had a return on equity of 30.42% and a net margin of 13.30%. The firm had revenue of $12.68 billion during the quarter, compared to analyst estimates of $11.92 billion. As a group, equities research analysts anticipate that AstraZeneca will post 4.04 earnings per share for the current year.

Hedge Funds Weigh In On AstraZeneca

Institutional investors and hedge funds have recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD grew its position in shares of AstraZeneca by 17.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 61,271,974 shares of the company’s stock worth $4,151,177,000 after purchasing an additional 9,002,450 shares in the last quarter. Wellington Management Group LLP increased its position in AstraZeneca by 0.7% in the third quarter. Wellington Management Group LLP now owns 49,492,814 shares of the company’s stock worth $3,351,653,000 after purchasing an additional 358,399 shares during the last quarter. Capital International Investors raised its stake in AstraZeneca by 0.5% during the fourth quarter. Capital International Investors now owns 34,782,762 shares of the company’s stock valued at $2,342,367,000 after purchasing an additional 164,183 shares in the last quarter. Sanders Capital LLC lifted its position in AstraZeneca by 39.0% during the fourth quarter. Sanders Capital LLC now owns 14,684,066 shares of the company’s stock valued at $988,972,000 after purchasing an additional 4,122,965 shares during the last quarter. Finally, CIBC Private Wealth Group LLC increased its holdings in shares of AstraZeneca by 9.3% in the 4th quarter. CIBC Private Wealth Group LLC now owns 10,424,914 shares of the company’s stock worth $708,617,000 after buying an additional 889,178 shares during the last quarter. 20.35% of the stock is currently owned by hedge funds and other institutional investors.

AstraZeneca Company Profile

(Get Free Report)

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.

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Analyst Recommendations for AstraZeneca (NASDAQ:AZN)

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