Weiss Ratings Reaffirms “Buy (B)” Rating for AstraZeneca (NASDAQ:AZN)

by · The Cerbat Gem

AstraZeneca (NASDAQ:AZN – Get Free Report)‘s stock had its “buy (b)” rating reiterated by investment analysts at Weiss Ratings in a research report issued to clients and investors on Wednesday,Weiss Ratings reports.

Separately, Berenberg Bank set a $97.00 price target on AstraZeneca in a research report on Wednesday, July 9th. Four investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $86.00.

View Our Latest Report on AZN

AstraZeneca Price Performance

Shares of AZN opened at $85.04 on Wednesday. AstraZeneca has a 12-month low of $61.24 and a 12-month high of $86.57. The business has a 50-day simple moving average of $78.97 and a two-hundred day simple moving average of $73.37. The company has a quick ratio of 0.67, a current ratio of 0.86 and a debt-to-equity ratio of 0.55. The stock has a market cap of $263.74 billion, a PE ratio of 31.97, a PEG ratio of 1.57 and a beta of 0.36.

AstraZeneca (NASDAQ:AZN – Get Free Report) last issued its earnings results on Tuesday, July 29th. The company reported $1.09 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.09. AstraZeneca had a return on equity of 32.84% and a net margin of 14.68%.The business had revenue of $14.46 billion during the quarter, compared to analysts’ expectations of $14.08 billion. During the same quarter in the prior year, the firm earned $1.24 EPS. The business’s revenue for the quarter was up 16.1% compared to the same quarter last year. Analysts anticipate that AstraZeneca will post 4.51 earnings per share for the current fiscal year.

Institutional Investors Weigh In On AstraZeneca

Institutional investors and hedge funds have recently made changes to their positions in the business. Dynamic Advisor Solutions LLC boosted its position in shares of AstraZeneca by 58.4% during the 1st quarter. Dynamic Advisor Solutions LLC now owns 13,055 shares of the company’s stock valued at $960,000 after purchasing an additional 4,811 shares in the last quarter. Robbins Farley bought a new stake in shares of AstraZeneca during the 2nd quarter valued at about $1,857,000. SCS Capital Management LLC bought a new stake in shares of AstraZeneca during the 1st quarter valued at about $3,066,000. Farther Finance Advisors LLC boosted its position in shares of AstraZeneca by 13.1% during the 1st quarter. Farther Finance Advisors LLC now owns 6,083 shares of the company’s stock valued at $442,000 after purchasing an additional 706 shares in the last quarter. Finally, Oliver Luxxe Assets LLC raised its stake in AstraZeneca by 6.0% during the 2nd quarter. Oliver Luxxe Assets LLC now owns 78,301 shares of the company’s stock worth $5,472,000 after buying an additional 4,449 shares during the period. Institutional investors own 20.35% of the company’s stock.

About AstraZeneca

(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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