AstraZeneca (NASDAQ:AZN) Upgraded to “Strong-Buy” by Barclays

Barclays upgraded shares of AstraZeneca (NASDAQ:AZN) to a strong-buy rating in a report published on Monday morning, Zacks.com reports.

Other research analysts have also recently issued reports about the company. The Goldman Sachs Group started coverage on AstraZeneca in a research report on Thursday, May 30th. They set a buy rating and a $97.00 price objective for the company. Deutsche Bank Aktiengesellschaft raised AstraZeneca from a sell rating to a hold rating in a report on Tuesday, April 16th. BMO Capital Markets raised their price objective on shares of AstraZeneca from $80.00 to $82.00 and gave the stock an outperform rating in a report on Friday, April 26th. Finally, Argus boosted their price objective on shares of AstraZeneca from $80.00 to $85.00 and gave the stock a buy rating in a research report on Thursday, May 30th. Three research analysts have rated the stock with a hold rating, six have issued a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of Buy and an average price target of $88.00.

AstraZeneca Stock Performance

NASDAQ:AZN opened at $78.18 on Monday. AstraZeneca has a 52 week low of $60.47 and a 52 week high of $80.86. The company has a fifty day simple moving average of $77.33 and a two-hundred day simple moving average of $70.25. The company has a quick ratio of 0.70, a current ratio of 0.89 and a debt-to-equity ratio of 0.73. The company has a market cap of $242.40 billion, a price-to-earnings ratio of 38.32, a price-to-earnings-growth ratio of 1.43 and a beta of 0.48.

AstraZeneca (NASDAQ:AZN) last released its earnings results on Thursday, April 25th. The company reported $1.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analysts anticipate that AstraZeneca will post 4.04 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Anchor Investment Management LLC acquired a new stake in shares of AstraZeneca during the fourth quarter worth $26,000. Compagnie Lombard Odier SCmA purchased a new stake in shares of AstraZeneca in the fourth quarter valued at about $27,000. Able Wealth Management LLC acquired a new position in shares of AstraZeneca during the fourth quarter worth about $27,000. Pathway Financial Advisers LLC purchased a new position in AstraZeneca during the first quarter worth about $29,000. Finally, Pin Oak Investment Advisors Inc. lifted its position in AstraZeneca by 468.4% in the fourth quarter. Pin Oak Investment Advisors Inc. now owns 449 shares of the company’s stock valued at $30,000 after purchasing an additional 370 shares during the period. 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.