AstraZeneca (AZN) Upgraded to “Buy” at ValuEngine
AstraZeneca (NYSE:AZN) was upgraded by equities researchers at ValuEngine from a “hold” rating to a “buy” rating in a research report issued on Thursday.
Several other equities research analysts have also commented on the stock. Jefferies Financial Group lowered shares of AstraZeneca from a “buy” rating to a “hold” rating in a research report on Thursday, August 16th. Zacks Investment Research raised shares of AstraZeneca from a “sell” rating to a “hold” rating in a research report on Monday, July 16th. Finally, Morningstar reaffirmed a “hold” rating on shares of AstraZeneca in a research report on Tuesday, June 12th. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $38.94.
Shares of NYSE AZN traded up $0.64 during midday trading on Thursday, hitting $39.72. 5,442,300 shares of the company’s stock traded hands, compared to its average volume of 3,968,966. AstraZeneca has a 1 year low of $31.99 and a 1 year high of $39.76. The firm has a market capitalization of $98.00 billion, a P/E ratio of 9.28, a PEG ratio of 2.05 and a beta of 0.60. The company has a quick ratio of 0.54, a current ratio of 0.72 and a debt-to-equity ratio of 1.08.
Institutional investors have recently added to or reduced their stakes in the stock. Bessemer Group Inc. increased its holdings in AstraZeneca by 64.3% in the 2nd quarter. Bessemer Group Inc. now owns 4,651 shares of the company’s stock worth $163,000 after acquiring an additional 1,820 shares in the last quarter. FNY Investment Advisers LLC purchased a new stake in AstraZeneca in the 2nd quarter worth approximately $175,000. Tiverton Asset Management LLC purchased a new stake in AstraZeneca in the 2nd quarter worth approximately $178,000. Gilman Hill Asset Management LLC purchased a new stake in AstraZeneca in the 2nd quarter worth approximately $205,000. Finally, Independent Advisor Alliance purchased a new stake in AstraZeneca in the 2nd quarter worth approximately $206,000. 15.97% of the stock is owned by institutional investors.
AstraZeneca PLC discovers, develops, and commercializes prescription medicines for the treatment of oncology, cardiovascular and metabolic, respiratory, gastrointestinal, neuroscience, and infection diseases worldwide. Its marketed products include Arimidex, Casodex/Cosudex, Calquence, Faslodex, Imfinzi, Iressa, Lynparza, Nolvadex, Tagrisso, and Zoladex for oncology diseases; Atacand1/Atacand HCT/Atacand Plus, Brilinta/Brilique, Crestor2, Plendil, Seloken/Toprol-XL4, Tenormin5, and Zestril6 for cardiovascular diseases; and Bydureon, Byetta, Farxiga/Forxiga, Kombiglyze XR, Komboglyze, Onglyza, Qtern, Symlin, Xigduo, and Xigduo XR for metabolic diseases.
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