AstraZeneca plc (AZN) Shares Up 0.5% Following Analyst Upgrade

AstraZeneca plc (LON:AZN) shot up 0.5% during trading on Monday after Credit Suisse Group upgraded the stock from a neutral rating to an outperform rating. Credit Suisse Group now has a GBX 5,800 price target on the stock, up from their previous price target of GBX 4,800. AstraZeneca plc traded as high as GBX 5,251.04 ($69.77) and last traded at GBX 5,155 ($68.50). 2,029,967 shares changed hands during trading, a decline of 20% from the average session volume of 2,541,130 shares. The stock had previously closed at GBX 5,127 ($68.12).

A number of other equities research analysts have also issued reports on AZN. UBS AG set a GBX 5,150 ($68.43) target price on AstraZeneca plc and gave the company a “neutral” rating in a research report on Tuesday, June 27th. J P Morgan Chase & Co set a GBX 4,200 ($55.81) target price on AstraZeneca plc and gave the company a “neutral” rating in a research report on Wednesday, August 9th. Barclays PLC reissued an “overweight” rating and issued a GBX 5,500 ($73.08) target price on shares of AstraZeneca plc in a research report on Monday, August 7th. Deutsche Bank AG reissued a “buy” rating and issued a GBX 5,600 ($74.41) target price on shares of AstraZeneca plc in a research report on Wednesday, October 11th. Finally, Jefferies Group LLC lifted their target price on AstraZeneca plc from GBX 4,900 ($65.11) to GBX 5,100 ($67.77) and gave the company a “hold” rating in a research report on Monday. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and twelve have assigned a buy rating to the company. AstraZeneca plc has a consensus rating of “Hold” and an average price target of GBX 5,172.64 ($68.73).

In other news, insider Nazneen Rahman purchased 39 shares of AstraZeneca plc stock in a transaction that occurred on Thursday, July 27th. The stock was acquired at an average cost of GBX 4,370 ($58.07) per share, for a total transaction of £1,704.30 ($2,264.55).

The stock’s market capitalization is GBX 65.40 billion. The stock’s 50 day moving average is GBX 4,859.28 and its 200-day moving average is GBX 4,907.26.

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AstraZeneca plc Company Profile

AstraZeneca PLC (AstraZeneca) is a biopharmaceutical company. The Company focuses on discovery and development of products, which are then manufactured, marketed and sold. The Company focuses on three main therapy areas: Oncology, Cardiovascular & Metabolic Disease (CVMD) and Respiratory, while selectively pursuing therapies in Autoimmunity, Infection and Neuroscience.

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