AstraZeneca (NASDAQ:AZN) Price Target Raised to GBX 126

AstraZeneca (NASDAQ:AZN – Get Rating) had its price objective increased by Berenberg Bank from GBX 118 ($1.44) to GBX 126 ($1.54) in a research report sent to investors on Wednesday, The Fly reports.

AZN has been the subject of a number of other reports. TheStreet upgraded shares of AstraZeneca from a c rating to an a rating in a report on Monday, December 5th. Guggenheim dropped their price objective on shares of AstraZeneca from £120 ($146.43) to £118 ($143.99) in a report on Tuesday, October 11th. JPMorgan Chase & Co. upped their price objective on shares of AstraZeneca from £125 ($152.53) to £135 ($164.73) in a report on Tuesday, January 3rd. BMO Capital Markets began coverage on shares of AstraZeneca in a report on Thursday, January 5th. They set an outperform rating on the stock. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of AstraZeneca from £120 ($146.43) to £130 ($158.63) in a report on Thursday, December 15th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of Hold and a consensus target price of $9,510.67.

AstraZeneca Price Performance

Shares of NASDAQ AZN opened at $69.15 on Wednesday. AstraZeneca has a twelve month low of $52.65 and a twelve month high of $72.12. The firm has a fifty day simple moving average of $68.10 and a 200 day simple moving average of $62.76. The company has a market capitalization of $214.28 billion, a PE ratio of 105.21, a P/E/G ratio of 1.30 and a beta of 0.53. The company has a quick ratio of 0.61, a current ratio of 0.81 and a debt-to-equity ratio of 0.65.

AstraZeneca (NASDAQ:AZN – Get Rating) last announced its earnings results on Thursday, November 10th. The company reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.07. AstraZeneca had a net margin of 4.52% and a return on equity of 29.40%. The business had revenue of $10.98 billion during the quarter, compared to the consensus estimate of $10.98 billion. On average, sell-side analysts forecast that AstraZeneca will post 3.33 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. 44 Wealth Management LLC boosted its holdings in AstraZeneca by 1.2% during the fourth quarter. 44 Wealth Management LLC now owns 18,692 shares of the company’s stock worth $1,267,000 after purchasing an additional 229 shares during the last quarter. HB Wealth Management LLC boosted its holdings in AstraZeneca by 179.7% during the fourth quarter. HB Wealth Management LLC now owns 24,428 shares of the company’s stock worth $1,656,000 after purchasing an additional 15,694 shares during the last quarter. V Wealth Advisors LLC purchased a new position in AstraZeneca during the fourth quarter worth about $413,000. Miracle Mile Advisors LLC raised its position in AstraZeneca by 3.6% in the fourth quarter. Miracle Mile Advisors LLC now owns 39,920 shares of the company’s stock worth $2,707,000 after acquiring an additional 1,373 shares during the period. Finally, Naples Global Advisors LLC raised its position in AstraZeneca by 2.3% in the fourth quarter. Naples Global Advisors LLC now owns 41,986 shares of the company’s stock worth $2,847,000 after acquiring an additional 925 shares during the period. 16.42% of the stock is currently owned by hedge funds and other institutional investors.

About AstraZeneca

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AstraZeneca PLC, a biopharmaceutical company, focuses on the discovery, development, manufacturing, and commercialization of prescription medicines. Its marketed products include Calquence, Enhertu, Faslodex, Imfinzi, Iressa, Koselugo, Lumoxiti, Lynparza, Orpathys, Tagrisso, and Zoladex for oncology; Brilinta/Brilique, Bydureon/Byetta, BCise, Byetta, Crestor, Evrenzo, Farxiga/Forxiga, Komboglyze/Kombiglyze XR, Lokelma, Onglyza, Qtern, and Xigduo/Xigduo XR for cardiovascular, renal, and metabolism diseases; Bevespi Aerosphere, Breztri Aerosphere, Daliresp/Daxas, Duaklir Genuair, Fasenra, Pulmicort, Saphnelo, Symbicort, and Tudorza/Eklira/Bretaris for respiratory and immunology; and Andexxa/Ondexxya, Kanuma, Soliris, Strensiq, and Ultomiris for rare diseases.