AstraZeneca (LON:AZN) Stock Rating Reaffirmed as Buy by Berenberg Bank

AstraZeneca (LON:AZN)‘s stock had its “buy” rating reissued by stock analysts at Berenberg Bank in a note issued to investors on Wednesday, October 7th, Digital Look reports. They presently have a £175 target price on the biopharmaceutical company’s stock. Berenberg Bank’s target price points to a potential upside of 42.28% from the company’s current price.

Other equities analysts have also issued research reports about the company. Citigroup lifted their price target on AstraZeneca from £175 to £178 and gave the company a “buy” rating in a research note on Tuesday, July 28th. Jefferies Financial Group reiterated a “buy” rating and set a £175 price target on shares of AstraZeneca in a research report on Wednesday, September 9th. Royal Bank Of Canada reiterated an “outperform” rating and set a £145 price target on shares of AstraZeneca in a research report on Tuesday, September 8th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a £117 price objective on shares of AstraZeneca in a report on Tuesday, September 29th. Six equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, AstraZeneca has a consensus rating of “Moderate Buy” and an average price target of £153.57.

AstraZeneca Price Performance

Shares of AZN stock traded up GBX 404 during mid-day trading on Wednesday, hitting £123. 2,104,305 shares of the stock were exchanged, compared to its average volume of 28,737,752. The firm has a fifty day moving average of £120.59 and a 200 day moving average of £131.66. The company has a quick ratio of 0.59, a current ratio of 0.89 and a debt-to-equity ratio of 64.10. AstraZeneca has a 52-week low of £114.04 and a 52-week high of £157.32. The company has a market cap of £190.76 billion, a PE ratio of 18.41, a price-to-earnings-growth ratio of 0.86 and a beta of 0.20.

Insiders Place Their Bets

In other news, insider Michel Demare acquired 2,500 shares of the business’s stock in a transaction on Monday, September 14th. The stock was bought at an average cost of £121.21 per share, for a total transaction of £303,025. Corporate insiders own 0.15% of the company’s stock.

About AstraZeneca

AstraZeneca (LSE/STO/Nasdaq: AZN) is a global, science-led biopharmaceutical company that focuses on the discovery, development and commercialisation of prescription medicines, primarily for the treatment of diseases in three therapy areas – Oncology, Cardiovascular, Renal & Metabolism, and Respiratory & Immunology.
Based in Cambridge, UK, AstraZeneca operates in over 100 countries and its innovative medicines are used by millions of patients worldwide. Please visit astrazeneca.com and follow the Company on Twitter @AstraZeneca.