Argus Boosts AstraZeneca (NYSE:AZN) Price Target to $50.00

AstraZeneca (NYSE:AZN) had its price objective boosted by Argus to $50.00 in a research note released on Wednesday morning, The Fly reports. The brokerage currently has a buy rating on the stock.

Several other equities research analysts have also issued reports on the company. Pareto Securities raised AstraZeneca from a sell rating to a hold rating in a research report on Monday, April 29th. Zacks Investment Research raised AstraZeneca from a hold rating to a buy rating and set a $45.00 price target on the stock in a research report on Tuesday, April 16th. Finally, ValuEngine lowered AstraZeneca from a buy rating to a hold rating in a research report on Thursday, August 1st. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and thirteen have given a buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus target price of $45.96.

AZN stock opened at $44.34 on Wednesday. The company has a current ratio of 0.95, a quick ratio of 0.75 and a debt-to-equity ratio of 1.19. The firm has a market cap of $110.97 billion, a P/E ratio of 22.24, a P/E/G ratio of 1.50 and a beta of 0.52. AstraZeneca has a 12-month low of $35.30 and a 12-month high of $45.28. The stock’s 50 day simple moving average is $42.25 and its 200 day simple moving average is $40.37.

AstraZeneca (NYSE:AZN) last posted its quarterly earnings results on Thursday, July 25th. The company reported $0.73 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.30 by $0.43. The business had revenue of $5.72 billion for the quarter, compared to analyst estimates of $5.57 billion. AstraZeneca had a return on equity of 35.83% and a net margin of 9.38%. The business’s revenue was up 10.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.69 EPS. On average, research analysts forecast that AstraZeneca will post 1.79 EPS for the current fiscal year.

Institutional investors and hedge funds have recently modified their holdings of the stock. Manchester Financial Inc. bought a new position in AstraZeneca during the 2nd quarter worth $25,000. Oakworth Capital Inc. grew its stake in AstraZeneca by 141.0% during the 2nd quarter. Oakworth Capital Inc. now owns 964 shares of the company’s stock worth $40,000 after buying an additional 564 shares during the last quarter. San Francisco Sentry Investment Group CA grew its stake in AstraZeneca by 37.6% during the 2nd quarter. San Francisco Sentry Investment Group CA now owns 967 shares of the company’s stock worth $40,000 after buying an additional 264 shares during the last quarter. Winslow Evans & Crocker Inc. grew its stake in shares of AstraZeneca by 58.6% in the second quarter. Winslow Evans & Crocker Inc. now owns 1,050 shares of the company’s stock worth $44,000 after purchasing an additional 388 shares in the last quarter. Finally, Heritage Wealth Advisors grew its stake in shares of AstraZeneca by 3,378.1% in the first quarter. Heritage Wealth Advisors now owns 1,113 shares of the company’s stock worth $45,000 after purchasing an additional 1,081 shares in the last quarter. Hedge funds and other institutional investors own 18.42% of the company’s stock.

AstraZeneca Company Profile

AstraZeneca PLC discovers, develops, and commercializes prescription medicines in the areas of oncology, cardiovascular, renal and metabolism, respiratory, autoimmunity, infection, neuroscience, and gastroenterology worldwide. Its marketed products include Arimidex, Casodex/Cosudex, Calquence, Faslodex, Imfinzi, Iressa, Lynparza, Nolvadex, Tagrisso, and Zoladex for oncology diseases; Atacand1/Atacand HCT/Atacand Plus, Brilinta/Brilique, Crestor, Plendil, Seloken/Toprol-XL, Tenormin, and Zestril for cardiovascular diseases; and Bydureon, Byetta, Farxiga/Forxiga, Kombiglyze XR, Komboglyze, Onglyza, Qtern, Symlin, Xigduo, and Xigduo XR for metabolic diseases.

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Analyst Recommendations for AstraZeneca (NYSE:AZN)

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