Astrazeneca (NYSE:AZN) Cut to Hold at Wall Street Zen

Key Points

• Wall Street Zen downgraded AstraZeneca (NYSE:AZN) from a "buy" to a "hold" in a research report issued Saturday.
• Despite that downgrade, MarketBeat data shows a consensus of "Moderate Buy"—nine analysts rate Buy and one rates Sell—with an average target price of $95.75.
• Shares opened at $203.32; the company has a market capitalization of $315.33 billion, a P/E of 31.04, and a 52-week range of $122.48–$212.71.

Astrazeneca (NYSE:AZN - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research report issued on Saturday.

Several other research analysts also recently commented on AZN. Weiss Ratings started coverage on shares of Astrazeneca in a research note on Wednesday, March 11th. They issued a "buy (b)" rating on the stock. Deutsche Bank Aktiengesellschaft reissued a "sell" rating on shares of Astrazeneca in a research report on Friday, February 6th. Barclays restated an "overweight" rating on shares of Astrazeneca in a research note on Tuesday, January 6th. HSBC reaffirmed a "buy" rating and set a $108.00 target price on shares of Astrazeneca in a research report on Wednesday, December 10th. Finally, TD Cowen reiterated a "buy" rating on shares of Astrazeneca in a report on Wednesday, March 18th. Nine equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $95.75.

Astrazeneca Stock Down 0.1%

Shares of Astrazeneca stock opened at $203.32 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.72 and a current ratio of 0.94. Astrazeneca has a 52 week low of $122.48 and a 52 week high of $212.71. The firm has a market capitalization of $315.33 billion, a price-to-earnings ratio of 31.04, a price-to-earnings-growth ratio of 1.53 and a beta of 0.35.

Hedge Funds Weigh In On Astrazeneca

A number of hedge funds and other institutional investors have recently modified their holdings of AZN. Brighton Jones LLC raised its position in shares of Astrazeneca by 93.2% in the 4th quarter. Brighton Jones LLC now owns 5,782 shares of the company's stock worth $379,000 after acquiring an additional 2,789 shares in the last quarter. AQR Capital Management LLC boosted its position in Astrazeneca by 45.3% during the first quarter. AQR Capital Management LLC now owns 37,501 shares of the company's stock valued at $2,756,000 after purchasing an additional 11,690 shares in the last quarter. Rhumbline Advisers grew its stake in Astrazeneca by 3.3% in the second quarter. Rhumbline Advisers now owns 29,064 shares of the company's stock valued at $2,031,000 after purchasing an additional 922 shares during the last quarter. Norges Bank purchased a new position in Astrazeneca in the second quarter valued at about $4,219,000. Finally, Beacon Pointe Advisors LLC raised its holdings in Astrazeneca by 4.2% in the second quarter. Beacon Pointe Advisors LLC now owns 21,360 shares of the company's stock worth $1,493,000 after purchasing an additional 862 shares in the last quarter. 20.35% of the stock is currently owned by institutional investors.

About Astrazeneca

AstraZeneca plc is a global biopharmaceutical company headquartered in Cambridge, England. Formed through the 1999 merger of Sweden’s Astra AB and the UK’s Zeneca Group, the company researches, develops, manufactures and commercializes prescription medicines across a range of therapeutic areas. AstraZeneca positions itself as R&D-driven, investing in discovery science, clinical development and regulatory processes to bring new therapies to market.

The company’s commercial portfolio and late-stage pipeline emphasize oncology, cardiovascular, renal and metabolic (CVRM) diseases, and respiratory and immunology.

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