8,009 Shares of Astrazeneca Plc $AZN Purchased by Sowell Financial Services LLC

Key Points

• Sowell Financial Services initiated a position in AstraZeneca during the third quarter, purchasing 8,009 shares valued at approximately $1.29 million. Institutional investors collectively own 20.35% of the company.
• AstraZeneca’s growth outlook is supported by new product developments, including accelerated FDA approval for Ultomiris in IgA nephropathy, the U.S. launch of sunvozertinib, and positive Phase III results for TEZSPIRE.
• Analysts maintain a generally positive view, with a “Moderate Buy” consensus and an average price target of $206.67, although risks include the failed Wainua study and the loss of U.S. exclusivity for Farxiga.

Sowell Financial Services LLC purchased a new position in Astrazeneca Plc (NYSE:AZN - Free Report) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 8,009 shares of the company's stock, valued at approximately $1,293,000.

Several other institutional investors also recently bought and sold shares of the company. Amundi raised its holdings in Astrazeneca by 146,574.4% in the first quarter. Amundi now owns 15,386,149 shares of the company's stock worth $3,034,456,000 after buying an additional 15,375,659 shares during the last quarter. Janus Henderson Group PLC grew its holdings in shares of Astrazeneca by 889.9% during the first quarter. Janus Henderson Group PLC now owns 11,949,424 shares of the company's stock valued at $2,319,947,000 after buying an additional 10,742,268 shares during the last quarter. Rathbones Group PLC increased its position in shares of Astrazeneca by 106,772.0% during the first quarter. Rathbones Group PLC now owns 8,054,943 shares of the company's stock valued at $1,560,419,000 after acquiring an additional 8,047,406 shares in the last quarter. Royal Bank of Canada increased its position in shares of Astrazeneca by 208.6% during the first quarter. Royal Bank of Canada now owns 10,386,455 shares of the company's stock valued at $2,048,417,000 after acquiring an additional 7,021,126 shares in the last quarter. Finally, Swiss National Bank bought a new stake in shares of Astrazeneca during the first quarter valued at approximately $1,202,714,000. 20.35% of the stock is owned by hedge funds and other institutional investors.

Key Headlines Impacting Astrazeneca

Here are the key news stories impacting Astrazeneca this week:

• Positive Sentiment: Ultomiris received accelerated FDA approval for IgA nephropathy. The approval makes Ultomiris the first C5 inhibitor authorized for this kidney disease and its fifth approved U.S. indication, expanding the drug’s commercial opportunity. AstraZeneca Gets Accelerated FDA Nod for Ultomiris in IgA Nephropathy
• Positive Sentiment: AstraZeneca launched sunvozertinib in the United States for EGFR exon 20 non-small cell lung cancer. The targeted oncology drug could add to the company’s growing cancer franchise following accelerated FDA approval. AstraZeneca launches sunvozertinib for EGFR exon 20 NSCLC
• Positive Sentiment: TEZSPIRE produced positive Phase III results in eosinophilic esophagitis. Statistically significant and sustained efficacy could support a label expansion for the drug, which AstraZeneca markets with Amgen. AstraZeneca Reports Positive Phase III Results in Eosinophilic Esophagitis
• Positive Sentiment: The long-term investment case remains intact. An analyst argues that 14 current blockbuster medicines and a pipeline that could produce 12 additional blockbusters support AstraZeneca’s target of $80 billion in revenue by 2030. AstraZeneca: This Mighty Pharma Is Undervalued Ahead of Q3 Earnings
• Neutral Sentiment: Quarterly earnings are due Friday. Results and management commentary will provide an immediate test of demand, guidance and the contribution from newer products. AstraZeneca Set to Announce Quarterly Earnings
• Negative Sentiment: Recent setbacks remain a risk. The failed Wainua/eplontersen ATTR-CM study and the loss of U.S. exclusivity for Farxiga could weigh on sentiment and future growth, partially offsetting the new regulatory approvals and pipeline progress. Can AstraZeneca Shrug Off Its Wainua Trial Miss?

Wall Street Analysts Forecast Growth

Several brokerages have commented on AZN. Zacks Research upgraded Astrazeneca from a "strong sell" rating to a "hold" rating in a research note on Tuesday, October 13th. Citigroup reissued a "buy" rating on shares of Astrazeneca in a report on Tuesday, October 6th. Deutsche Bank Aktiengesellschaft upgraded Astrazeneca from a "sell" rating to a "hold" rating in a research note on Tuesday, September 15th. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Astrazeneca in a report on Wednesday, July 1st. Finally, Wall Street Zen downgraded Astrazeneca from a "buy" rating to a "hold" rating in a report on Sunday, October 11th. Fifteen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat, Astrazeneca presently has an average rating of "Moderate Buy" and an average price target of $206.67.

Astrazeneca Price Performance

Shares of AZN opened at $171.56 on Friday. The firm has a fifty day simple moving average of $163.23 and a two-hundred day simple moving average of $175.17. The firm has a market cap of $266.08 billion, a PE ratio of 25.64, a P/E/G ratio of 1.46 and a beta of 0.27. The company has a current ratio of 0.89, a quick ratio of 0.67 and a debt-to-equity ratio of 0.47. Astrazeneca Plc has a 1-year low of $153.41 and a 1-year high of $212.71.

Astrazeneca (NYSE:AZN - Get Free Report) last released its quarterly earnings results on Monday, July 27th. The company reported $2.63 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.50 by $0.13. Astrazeneca had a return on equity of 31.45% and a net margin of 17.02%. The firm had revenue of $15.38 billion for the quarter, compared to the consensus estimate of $15.44 billion. During the same period last year, the business posted $2.17 EPS. The company's revenue for the quarter was up 6.4% on a year-over-year basis. On average, equities analysts anticipate that Astrazeneca Plc will post 9.38 EPS for the current year.

About Astrazeneca

AstraZeneca plc is a global, science-led biopharmaceutical company headquartered in Cambridge, United Kingdom. The company discovers, develops and commercializes prescription medicines, with a focus on oncology, biopharmaceuticals and rare diseases. Its research and commercial operations serve patients and healthcare systems across more than 100 countries.

AstraZeneca's portfolio includes medicines for cancer, respiratory and immune-mediated conditions, cardiovascular, renal and metabolic diseases, and rare disorders.

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