Azzad Asset Management Inc. ADV Has $6.45 Million Stock Position in Astrazeneca Plc $AZN

Azzad Asset Management Inc. ADV reduced its holdings in Astrazeneca Plc (NYSE:AZN) by 49.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,691 shares of the company’s stock after selling 32,261 shares during the period. Astrazeneca comprises about 0.7% of Azzad Asset Management Inc. ADV’s holdings, making the stock its 23rd largest holding. Azzad Asset Management Inc. ADV’s holdings in Astrazeneca were worth $6,447,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of AZN. MV Capital Management Inc. acquired a new position in shares of Astrazeneca in the 4th quarter valued at about $26,000. Reflection Asset Management acquired a new stake in shares of Astrazeneca during the fourth quarter worth approximately $31,000. Raleigh Capital Management Inc. acquired a new stake in shares of Astrazeneca during the first quarter worth approximately $38,000. Lloyd Advisory Services LLC. purchased a new position in Astrazeneca during the fourth quarter valued at approximately $35,000. Finally, Basepoint Wealth LLC purchased a new position in Astrazeneca during the fourth quarter valued at approximately $44,000. 20.35% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. DZ Bank raised shares of Astrazeneca from a “neutral” rating to a “buy” rating in a research note on Wednesday, April 29th. Morgan Stanley reiterated an “overweight” rating on shares of Astrazeneca in a report on Wednesday, April 8th. Weiss Ratings cut Astrazeneca from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, June 18th. Bank of America reissued a “buy” rating on shares of Astrazeneca in a research report on Wednesday, July 1st. Finally, TD Cowen reaffirmed a “buy” rating on shares of Astrazeneca in a research note on Wednesday, March 18th. Fourteen equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $211.00.

Astrazeneca News Summary

Here are the key news stories impacting Astrazeneca this week:

• Negative Sentiment: AstraZeneca and partner Ionis said Wainua failed to meet its main goal in a late-stage trial for a rare heart condition, a disappointing result that raised concerns about the drug’s commercial potential and the strength of the company’s pipeline. Reuters article
• Negative Sentiment: Several reports said the trial miss sparked a sharp selloff in AZN shares, with investors reacting not just to the direct revenue impact but also to the hit to management credibility and confidence in late-stage development execution. Proactive Investors article
• Negative Sentiment: Market coverage highlighted that AstraZeneca’s shares were among the biggest laggards in the FTSE 100 and that the stock’s decline was tied to the surprise of missing the primary endpoint in a closely watched heart-disease study. CNBC article
• Neutral Sentiment: AstraZeneca also received a Buy rating from Bernstein, which may help offset some sentiment damage, but the upgrade was overwhelmed by the trial disappointment. Bernstein note
• Neutral Sentiment: Separately, AstraZeneca recently advanced a respiratory-drug licensing deal with Sino Biopharm, showing continued pipeline activity, but this news was not enough to offset today’s pressure from Wainua. WSJ article

Astrazeneca Stock Performance

Shares of AZN opened at $178.46 on Friday. The company’s fifty day moving average price is $183.99 and its 200 day moving average price is $188.61. Astrazeneca Plc has a one year low of $137.23 and a one year high of $212.71. The company has a market capitalization of $276.77 billion, a PE ratio of 26.80, a price-to-earnings-growth ratio of 1.53 and a beta of 0.24. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.91 and a quick ratio of 0.71.

Astrazeneca (NYSE:AZN) last released its earnings results on Wednesday, April 29th. The company reported $2.58 earnings per share for the quarter, topping analysts’ consensus estimates of $2.52 by $0.06. Astrazeneca had a return on equity of 30.86% and a net margin of 17.19%.The business had revenue of $15.29 billion for the quarter, compared to the consensus estimate of $14.93 billion. As a group, analysts expect that Astrazeneca Plc will post 10.28 earnings per share for the current year.

About Astrazeneca

AstraZeneca plc is a global biopharmaceutical company headquartered in Cambridge, England. Formed through the 1999 merger of Sweden’s Astra AB and the UK’s Zeneca Group, the company researches, develops, manufactures and commercializes prescription medicines across a range of therapeutic areas. AstraZeneca positions itself as R&D-driven, investing in discovery science, clinical development and regulatory processes to bring new therapies to market.

The company’s commercial portfolio and late-stage pipeline emphasize oncology, cardiovascular, renal and metabolic (CVRM) diseases, and respiratory and immunology.