Wall Street Zen Upgrades AstraZeneca (NASDAQ:AZN) to Strong-Buy

AstraZeneca (NASDAQ:AZN) was upgraded by Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Saturday.

Other analysts also recently issued research reports about the company. Morgan Stanley reiterated an “overweight” rating and set a $103.00 price target on shares of AstraZeneca in a research note on Wednesday, December 3rd. Cowen reaffirmed a “buy” rating on shares of AstraZeneca in a report on Tuesday, December 9th. Weiss Ratings reiterated a “buy (b)” rating on shares of AstraZeneca in a research report on Wednesday, October 8th. Guggenheim reissued a “buy” rating on shares of AstraZeneca in a research report on Wednesday, December 3rd. Finally, Jefferies Financial Group started coverage on shares of AstraZeneca in a research note on Monday, October 27th. They set a “buy” rating for the company. Eight equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $95.75.

AstraZeneca Stock Down 0.4%

NASDAQ:AZN opened at $91.57 on Friday. The company has a current ratio of 0.88, a quick ratio of 0.69 and a debt-to-equity ratio of 0.54. AstraZeneca has a twelve month low of $61.24 and a twelve month high of $94.01. The company has a market cap of $284.00 billion, a PE ratio of 30.42, a P/E/G ratio of 1.51 and a beta of 0.34. The company’s 50 day moving average is $89.20 and its two-hundred day moving average is $81.23.

AstraZeneca (NASDAQ:AZN) last posted its quarterly earnings data on Thursday, November 6th. The company reported $1.19 EPS for the quarter, topping the consensus estimate of $1.14 by $0.05. The business had revenue of $15.19 billion during the quarter, compared to the consensus estimate of $14.75 billion. AstraZeneca had a net margin of 16.17% and a return on equity of 32.89%. The business’s revenue for the quarter was up 12.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.08 earnings per share. Analysts anticipate that AstraZeneca will post 4.51 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. NewSquare Capital LLC grew its stake in shares of AstraZeneca by 149.3% during the 2nd quarter. NewSquare Capital LLC now owns 364 shares of the company’s stock worth $25,000 after purchasing an additional 218 shares during the period. Triumph Capital Management purchased a new stake in AstraZeneca during the third quarter worth $25,000. Richardson Financial Services Inc. grew its position in AstraZeneca by 59.8% during the second quarter. Richardson Financial Services Inc. now owns 398 shares of the company’s stock valued at $28,000 after buying an additional 149 shares during the period. Rakuten Investment Management Inc. acquired a new stake in AstraZeneca during the third quarter valued at $31,000. Finally, FSA Wealth Management LLC increased its holdings in AstraZeneca by 376.0% in the second quarter. FSA Wealth Management LLC now owns 476 shares of the company’s stock valued at $33,000 after buying an additional 376 shares in the last quarter. 20.35% of the stock is currently owned by hedge funds and other institutional investors.

About AstraZeneca

AstraZeneca is a global, science-led 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’s operations span research and development, large-scale manufacturing, and commercial distribution, with a presence in developed and emerging markets worldwide.

The company focuses on several core therapy areas including oncology, cardiovascular, renal and metabolism (CVRM), respiratory and immunology, and rare diseases.