Astrazeneca Plc (NYSE:AZN) Receives Average Rating of “Moderate Buy” from Brokerages

Astrazeneca Plc (NYSE:AZN) has been given an average rating of “Moderate Buy” by the eighteen brokerages that are covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, three have given a hold recommendation and fourteen have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $206.6667.

Several analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of Astrazeneca from a “sell” rating to a “hold” rating in a research note on Tuesday, September 15th. HSBC lowered Astrazeneca from a “buy” rating to a “hold” rating in a report on Monday, July 13th. Bank of America restated a “buy” rating on shares of Astrazeneca in a report on Wednesday, July 1st. JPMorgan Chase & Co. restated a “buy” rating on shares of Astrazeneca in a research note on Tuesday, June 30th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating on shares of Astrazeneca in a report on Wednesday, July 1st.

Astrazeneca News Summary

Here are the key news stories impacting Astrazeneca this week:

• Positive Sentiment: Enhertu secured NHS funding in England. AstraZeneca and Daiichi Sankyo’s Enhertu was recommended for NHS use in patients with HER2-low metastatic breast cancer, reversing an earlier cost-effectiveness rejection. The decision expands potential access and supports commercial prospects for the oncology drug. AstraZeneca and Daiichi Sankyo’s Breast Cancer Drug Approved for NHS Use in England
• Positive Sentiment: European regulators issued positive opinions for Enhertu and Klygefa. The European Medicines Agency’s CHMP recommended Enhertu for approval in the EU and backed Klygefa for AChR-positive generalized myasthenia gravis. Klygefa’s phase III results and once-weekly dosing could improve its competitive positioning if final approval follows. AstraZeneca’s Enhertu, Klygefa Get Positive CHMP Opinions In EU
• Positive Sentiment: Efzimfotase alfa received FDA priority review. The designation for hypophosphatasia may shorten the regulatory review timeline for AstraZeneca’s rare-disease candidate, although it does not guarantee approval. FDA Grants Priority Review To AstraZeneca’s Efzimfotase Alfa In Hypophosphatasia
• Neutral Sentiment: Market coverage noted that AZN rose but continued to lag the broader market, while comparisons with Merck highlighted AstraZeneca’s oncology pipeline, growth opportunities and patent-related risks. Astrazeneca Ascends But Remains Behind Market

Astrazeneca Price Performance

Shares of NYSE AZN opened at $168.15 on Thursday. Astrazeneca has a fifty-two week low of $145.79 and a fifty-two week high of $212.71. The stock has a market cap of $260.79 billion, a price-to-earnings ratio of 25.13, a PEG ratio of 1.41 and a beta of 0.25. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.67 and a current ratio of 0.89. The firm’s 50-day simple moving average is $164.03 and its 200 day simple moving average is $180.13.

Astrazeneca (NYSE:AZN) last issued its quarterly earnings data on Monday, July 27th. The company reported $2.63 EPS for the quarter, topping analysts’ consensus estimates of $2.50 by $0.13. The firm had revenue of $15.38 billion during the quarter, compared to analyst estimates of $15.44 billion. Astrazeneca had a return on equity of 31.45% and a net margin of 17.02%.The company’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same period in the previous year, the company posted $2.17 EPS. As a group, research analysts anticipate that Astrazeneca will post 9.34 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Astrazeneca

A number of institutional investors and hedge funds have recently modified their holdings of AZN. Professional Advisory Services Inc. bought a new position in Astrazeneca in the 2nd quarter worth about $30,241,000. Wealthcare Advisory Partners LLC bought a new position in shares of Astrazeneca during the 2nd quarter valued at about $2,296,000. Westport Asset Management Inc. bought a new position in Astrazeneca during the second quarter valued at approximately $1,422,000. Madison Asset Management LLC purchased a new position in Astrazeneca in the 2nd quarter worth $4,041,000. Finally, Plato Investment Management Ltd purchased a new position in shares of Astrazeneca in the second quarter worth about $5,901,000. 20.35% of the stock is owned by hedge funds and other institutional investors.

About Astrazeneca

AstraZeneca plc is a global biopharmaceutical company focused on the discovery, development and commercialization of prescription medicines. Its principal therapeutic areas include oncology, cardiovascular, renal and metabolic diseases, respiratory and immunology conditions, and rare diseases.

The company’s portfolio includes medicines such as Tagrisso, Imfinzi and Lynparza for cancer; Farxiga for cardiovascular, kidney and metabolic conditions; Fasenra for severe asthma; and Symbicort for respiratory disease.