Astrazeneca (NYSE:AZN) Stock Price Up 3.5% – Here’s What Happened

Astrazeneca Plc (NYSE:AZN) rose 3.5% during trading on Wednesday. The company traded as high as $161.72 and last traded at $161.2070. 602,235 shares traded hands during trading, a decline of 78% from the average daily volume of 2,788,446 shares. The stock had previously closed at $155.82.

Wall Street Analysts Forecast Growth

AZN has been the topic of a number of research reports. Citigroup reaffirmed a “buy” rating on shares of Astrazeneca in a report on Tuesday, October 6th. Royal Bank Of Canada assumed coverage on shares of Astrazeneca in a report on Tuesday, September 8th. They set an “outperform” rating on the stock. Zacks Research lowered shares of Astrazeneca from a “hold” rating to a “strong sell” rating in a research report on Monday, September 14th. The Goldman Sachs Group reiterated a “buy” rating on shares of Astrazeneca in a research note on Wednesday, July 1st. Finally, CICC Research started coverage on Astrazeneca in a report on Sunday, August 23rd. They set an “outperform” rating and a $198.00 target price for the company. Fifteen investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Astrazeneca currently has a consensus rating of “Moderate Buy” and an average price target of $206.67.

Astrazeneca Stock Up 4.2%

The company has a quick ratio of 0.67, a current ratio of 0.89 and a debt-to-equity ratio of 0.47. The stock has a 50-day simple moving average of $161.95 and a two-hundred day simple moving average of $176.56. The firm has a market cap of $251.81 billion, a PE ratio of 24.31, a P/E/G ratio of 1.34 and a beta of 0.27.

Astrazeneca (NYSE:AZN) last announced its quarterly earnings data on Monday, July 27th. The company reported $2.63 earnings per share for the quarter, topping analysts’ consensus estimates of $2.50 by $0.13. Astrazeneca had a net margin of 17.02% and a return on equity of 31.45%. The business had revenue of $15.38 billion for the quarter, compared to analysts’ expectations of $15.44 billion. During the same quarter in the prior year, the company earned $2.17 earnings per share. The business’s revenue was up 6.4% compared to the same quarter last year. Analysts expect that Astrazeneca Plc will post 9.38 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Amundi raised its position in shares of Astrazeneca by 146,574.4% in the 1st quarter. Amundi now owns 15,386,149 shares of the company’s stock worth $3,034,456,000 after purchasing an additional 15,375,659 shares during the last quarter. Janus Henderson Group PLC boosted its stake in Astrazeneca by 889.9% in the 1st quarter. Janus Henderson Group PLC now owns 11,949,424 shares of the company’s stock worth $2,319,947,000 after purchasing an additional 10,742,268 shares in the last quarter. Rathbones Group PLC boosted its stake in Astrazeneca by 106,772.0% in the 1st quarter. Rathbones Group PLC now owns 8,054,943 shares of the company’s stock worth $1,560,419,000 after purchasing an additional 8,047,406 shares in the last quarter. Royal Bank of Canada grew its position in Astrazeneca by 208.6% during the 1st quarter. Royal Bank of Canada now owns 10,386,455 shares of the company’s stock valued at $2,048,417,000 after purchasing an additional 7,021,126 shares during the last quarter. Finally, Swiss National Bank bought a new position in shares of Astrazeneca in the first quarter worth approximately $1,202,714,000. Institutional investors own 20.35% of the company’s stock.

Astrazeneca Company Profile

AstraZeneca PLC is a global biopharmaceutical company headquartered in Cambridge, United Kingdom. Its research, development and commercial operations focus on prescription medicines for serious and chronic diseases, with an emphasis on discovering and delivering innovative therapies rather than operating as a diversified healthcare conglomerate.

The company’s principal therapeutic areas include oncology; cardiovascular, renal and metabolic diseases; respiratory and immunological conditions; and rare diseases.