AstraZeneca (NASDAQ:AZN) Downgraded by Deutsche Bank Aktiengesellschaft to “Sell”

Deutsche Bank Aktiengesellschaft cut shares of AstraZeneca (NASDAQ:AZNFree Report) from a hold rating to a sell rating in a research report released on Thursday morning, Briefing.com reports.

A number of other equities research analysts have also weighed in on the stock. Morgan Stanley initiated coverage on shares of AstraZeneca in a report on Tuesday, January 23rd. They issued an overweight rating on the stock. HSBC initiated coverage on shares of AstraZeneca in a research note on Monday, December 18th. They issued a buy rating for the company. Finally, Jefferies Financial Group lowered shares of AstraZeneca from a buy rating to a hold rating in a research note on Wednesday, January 3rd. One research analyst has rated the stock with a sell rating, two have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, AstraZeneca has a consensus rating of Moderate Buy and an average target price of $80.00.

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AstraZeneca Price Performance

Shares of NASDAQ AZN opened at $66.55 on Thursday. The firm’s 50-day moving average price is $66.57 and its 200-day moving average price is $66.80. AstraZeneca has a 1-year low of $61.73 and a 1-year high of $76.56. The firm has a market capitalization of $206.33 billion, a P/E ratio of 35.03, a P/E/G ratio of 1.19 and a beta of 0.52. The company has a current ratio of 0.79, a quick ratio of 0.60 and a debt-to-equity ratio of 0.60.

AstraZeneca (NASDAQ:AZNGet Free Report) last announced its quarterly earnings data on Wednesday, November 8th. The company reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.03. AstraZeneca had a net margin of 13.10% and a return on equity of 30.30%. The firm had revenue of $11.49 billion for the quarter, compared to analyst estimates of $11.55 billion. During the same quarter in the prior year, the business earned $0.84 earnings per share. The business’s quarterly revenue was up 4.6% compared to the same quarter last year. Equities research analysts anticipate that AstraZeneca will post 3.66 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. LPL Financial LLC boosted its holdings in AstraZeneca by 24.9% in the 2nd quarter. LPL Financial LLC now owns 320,876 shares of the company’s stock worth $22,965,000 after buying an additional 63,872 shares during the period. Truist Financial Corp boosted its holdings in AstraZeneca by 2.8% in the 2nd quarter. Truist Financial Corp now owns 247,269 shares of the company’s stock worth $17,697,000 after buying an additional 6,741 shares during the period. Barclays PLC boosted its holdings in AstraZeneca by 317.4% in the 3rd quarter. Barclays PLC now owns 1,242,431 shares of the company’s stock worth $84,136,000 after buying an additional 944,765 shares during the period. 1832 Asset Management L.P. boosted its holdings in AstraZeneca by 18.9% in the 2nd quarter. 1832 Asset Management L.P. now owns 2,134,805 shares of the company’s stock worth $152,788,000 after buying an additional 338,896 shares during the period. Finally, Assenagon Asset Management S.A. bought a new position in AstraZeneca in the 3rd quarter worth approximately $2,241,000. 15.68% of the stock is owned by institutional investors.

About AstraZeneca

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AstraZeneca PLC, a biopharmaceutical company, focuses on the discovery, development, manufacture, andcommercialization of prescription medicines. The company's marketed products include Calquence, Enhertu, Faslodex, Imfinzi, Iressa, Koselugo, Lumoxiti, Lynparza, Orpathys, Tagrisso, and Zoladex for oncology; Andexxa/Ondexxya, Atacand, Atacand HCT, Atacand Plus, Brilinta/Brilique, Bydureon/Byetta, BCise, Byetta, Crestor, Evrenzo, Farxiga/Forxiga, Komboglyze/Kombiglyze XR, Lokelma, Onglyza, Qtern, Xigduo/Xigduo, and Zestril XR for cardiovascular, renal, and metabolism diseases; Accolate, Accoleit, Vanticon, Bevespi Aerosphere, Breztri Aerosphere, Bricanyl Respules and Turbuhaler, Daliresp/Daxas, Duaklir Genuair, Fasenra, Pulmicort, Rhinocort, Saphnelo, Symbicort, and Tezspire for respiratory and immunology; and Kanuma, Soliris, Strensiq, and Ultomiris for rare diseases.

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