Morgan Stanley Begins Coverage on AstraZeneca (NASDAQ:AZN)

Morgan Stanley initiated coverage on shares of AstraZeneca (NASDAQ:AZN) in a research report issued on Wednesday,Briefing.com Automated Import reports. The firm set an “overweight” rating on the stock.

Several other research analysts also recently issued reports on AZN. UBS Group upgraded shares of AstraZeneca from a “sell” rating to a “neutral” rating in a report on Wednesday, November 20th. Deutsche Bank Aktiengesellschaft upgraded AstraZeneca from a “sell” rating to a “hold” rating in a research report on Wednesday, November 6th. Two research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, AstraZeneca presently has a consensus rating of “Buy” and a consensus price target of $89.75.

AstraZeneca Stock Performance

Shares of NASDAQ:AZN opened at $72.73 on Wednesday. The company’s 50 day simple moving average is $67.58 and its 200 day simple moving average is $73.52. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.93 and a quick ratio of 0.71. AstraZeneca has a 1 year low of $60.47 and a 1 year high of $87.68. The stock has a market capitalization of $225.54 billion, a price-to-earnings ratio of 32.18, a price-to-earnings-growth ratio of 1.20 and a beta of 0.46.

AstraZeneca (NASDAQ:AZN) last issued its quarterly earnings results on Thursday, February 6th. The company reported $1.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.10 by ($0.05). AstraZeneca had a net margin of 13.01% and a return on equity of 32.55%. As a group, research analysts predict that AstraZeneca will post 4.66 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. McClarren Financial Advisors Inc. grew its stake in AstraZeneca by 320.8% during the third 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. Capital Performance Advisors LLP acquired a new stake in shares of AstraZeneca during the 3rd quarter worth approximately $28,000. Albion Financial Group UT lifted its position in shares of AstraZeneca by 68.9% during the 4th quarter. Albion Financial Group UT now owns 608 shares of the company’s stock valued at $40,000 after acquiring an additional 248 shares during the period. Groupama Asset Managment boosted its stake in AstraZeneca by 22.9% during the third quarter. Groupama Asset Managment now owns 543,398 shares of the company’s stock worth $42,000 after acquiring an additional 101,225 shares in the last quarter. Finally, Ashton Thomas Securities LLC acquired a new stake in AstraZeneca in the third quarter worth $45,000. Institutional investors and hedge funds own 20.35% of the company’s stock.

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.