Leerink Partnrs Predicts Increased Earnings for AstraZeneca

AstraZeneca PLC (NASDAQ:AZN) – Analysts at Leerink Partnrs raised their FY2024 earnings estimates for AstraZeneca in a research report issued on Monday, November 18th. Leerink Partnrs analyst A. Berens now anticipates that the company will post earnings per share of $4.28 for the year, up from their previous estimate of $4.10. The consensus estimate for AstraZeneca’s current full-year earnings is $4.07 per share. Leerink Partnrs also issued estimates for AstraZeneca’s Q4 2024 earnings at $1.21 EPS.

Several other brokerages have also recently weighed in on AZN. Deutsche Bank Aktiengesellschaft raised shares of AstraZeneca from a “sell” rating to a “hold” rating in a research report on Wednesday, November 6th. Erste Group Bank upgraded shares of AstraZeneca from a “hold” rating to a “buy” rating in a report on Wednesday, September 11th. Finally, TD Cowen raised their price target on shares of AstraZeneca from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Monday, August 12th. Two investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $89.75.

AstraZeneca Stock Performance

NASDAQ AZN opened at $63.80 on Wednesday. AstraZeneca has a fifty-two week low of $60.47 and a fifty-two week high of $87.68. The firm has a market capitalization of $197.82 billion, a P/E ratio of 30.53, a price-to-earnings-growth ratio of 1.17 and a beta of 0.47. The stock’s fifty day moving average is $74.34 and its two-hundred day moving average is $78.06. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.71 and a current ratio of 0.93.

AstraZeneca (NASDAQ:AZN) last issued its earnings results on Tuesday, November 12th. The company reported $1.04 earnings per share for the quarter, topping the consensus estimate of $1.01 by $0.03. AstraZeneca had a return on equity of 30.01% and a net margin of 12.68%. The business had revenue of $13.57 billion for the quarter, compared to analysts’ expectations of $13.08 billion. During the same period in the previous year, the firm posted $0.87 EPS. The business’s revenue for the quarter was up 18.0% compared to the same quarter last year.

Institutional Investors Weigh In On AstraZeneca

Institutional investors have recently made changes to their positions in the stock. McClarren Financial Advisors Inc. boosted its position in shares of AstraZeneca by 320.8% during the 3rd quarter. McClarren Financial Advisors Inc. now owns 324 shares of the company’s stock worth $25,000 after purchasing an additional 247 shares during the period. GHP Investment Advisors Inc. acquired a new position in AstraZeneca in the 2nd quarter valued at about $26,000. Capital Performance Advisors LLP acquired a new position in AstraZeneca in the 3rd quarter valued at about $28,000. Pathway Financial Advisers LLC purchased a new stake in AstraZeneca during the first quarter worth about $29,000. Finally, CANADA LIFE ASSURANCE Co lifted its position in shares of AstraZeneca by 40.6% during the first quarter. CANADA LIFE ASSURANCE Co now owns 506 shares of the company’s stock worth $34,000 after purchasing an additional 146 shares in the last quarter. 20.35% of the stock is currently owned by institutional investors and hedge funds.

AstraZeneca Company Profile

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.