AstraZeneca plc (LON:AZN) Downgraded by Morgan Stanley to Equal Weight
Morgan Stanley lowered shares of AstraZeneca plc (LON:AZN) to an equal weight rating in a research note published on Friday morning. They currently have GBX 4,700 ($62.00) target price on the biopharmaceutical company’s stock, down from their previous target price of GBX 5,600 ($73.87).
AZN has been the subject of several other research reports. Beaufort Securities lowered shares of AstraZeneca plc to a sell rating and set a GBX 3,900 ($51.44) target price for the company. in a report on Friday. J P Morgan Chase & Co restated a neutral rating and issued a GBX 4,200 ($55.40) target price (down previously from GBX 5,000 ($65.95)) on shares of AstraZeneca plc in a report on Friday. Kepler Capital Markets set a GBX 5,200 ($68.59) target price on shares of AstraZeneca plc and gave the stock a buy rating in a report on Friday. Citigroup Inc. restated a buy rating and issued a GBX 6,000 ($79.15) target price on shares of AstraZeneca plc in a report on Friday. Finally, Berenberg Bank set a GBX 5,500 ($72.55) target price on shares of AstraZeneca plc and gave the stock a buy rating in a report on Friday. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and eight have given a buy rating to the stock. The company has a consensus rating of Hold and an average price target of GBX 5,046.95 ($66.57).
AstraZeneca plc (AZN) opened at 4571.00 on Friday. The stock’s market cap is GBX 57.87 billion. The firm has a 50 day moving average of GBX 5,140.37 and a 200-day moving average of GBX 4,864.62. AstraZeneca plc has a 52-week low of GBX 3,996.00 and a 52-week high of GBX 5,520.00.
The company also recently disclosed a dividend, which will be paid on Monday, September 11th. Stockholders of record on Thursday, August 10th will be given a GBX 68.90 ($0.91) dividend. This represents a dividend yield of 1.35%. The ex-dividend date of this dividend is Thursday, August 10th.
In other news, insider Nazneen Rahman acquired 39 shares of the business’s stock in a transaction dated Thursday, July 27th. The shares were purchased at an average price of GBX 4,370 ($57.64) per share, with a total value of £1,704.30 ($2,248.12).
AstraZeneca plc Company Profile
AstraZeneca PLC (AstraZeneca) is a biopharmaceutical company. The Company focuses on discovery and development of products, which are then manufactured, marketed and sold. The Company focuses on three main therapy areas: Oncology, Cardiovascular & Metabolic Disease (CVMD) and Respiratory, while selectively pursuing therapies in Autoimmunity, Infection and Neuroscience.
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