AstraZeneca (LON:AZN) Shares Pass Above Two Hundred Day Moving Average - Here's Why

Key Points

• AstraZeneca shares have recently crossed above their 200-day moving average of £108.93, trading as high as £115.86, indicating positive momentum in the stock.
• Wall Street analysts have mixed ratings, with Deutsche Bank maintaining a "hold" rating and a £110 price target, while Shore Capital and Berenberg Bank have set higher price targets of £135 and GBX 140, respectively.
• The company has a market capitalization of £222.19 billion, a P/E ratio of 31.65, and a relatively low beta of 0.17, indicating lower volatility compared to the market.

AstraZeneca PLC (LON:AZN - Get Free Report) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of £108.93 ($147.38) and traded as high as £115.86 ($156.76). AstraZeneca shares last traded at £115.83 ($156.72), with a volume of 2,064,943 shares traded.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on AZN. Deutsche Bank Aktiengesellschaft restated a "hold" rating and set a £110 ($148.83) price target on shares of AstraZeneca in a research report on Wednesday, July 30th. Shore Capital restated a "buy" rating and set a £135 ($182.65) target price on shares of AstraZeneca in a report on Tuesday, July 29th. Finally, Berenberg Bank restated a "buy" rating and set a GBX 140 ($1.89) target price on shares of AstraZeneca in a report on Friday, May 16th.

AstraZeneca Price Performance

The stock has a market capitalization of £222.19 billion, a P/E ratio of 31.65, a price-to-earnings-growth ratio of 0.86 and a beta of 0.17. The company has a debt-to-equity ratio of 73.83, a quick ratio of 0.59 and a current ratio of 0.93. The stock has a 50-day simple moving average of £106.87 and a 200 day simple moving average of £108.93.

About AstraZeneca

AstraZeneca (LSE/STO/Nasdaq: AZN) is a global, science-led biopharmaceutical company that focuses on the discovery, development and commercialisation of prescription medicines, primarily for the treatment of diseases in three therapy areas - Oncology, Cardiovascular, Renal & Metabolism, and Respiratory & Immunology.

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