AstraZeneca (NASDAQ:AZN) Given New $82.00 Price Target at BMO Capital Markets

AstraZeneca (NASDAQ:AZN - Get Free Report) had its target price increased by analysts at BMO Capital Markets from $80.00 to $82.00 in a report issued on Friday, Benzinga reports. The brokerage currently has an "outperform" rating on the stock. BMO Capital Markets' target price indicates a potential upside of 9.09% from the stock's current price.

A number of other analysts have also commented on AZN. Deutsche Bank Aktiengesellschaft raised AstraZeneca from a "sell" rating to a "hold" rating in a research note on Tuesday, April 16th. Jefferies Financial Group lowered AstraZeneca from a "buy" rating to a "hold" rating in a research note on Wednesday, January 3rd. Finally, Morgan Stanley initiated coverage on AstraZeneca in a research note on Tuesday, January 23rd. They set an "overweight" rating on the stock. Three equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, AstraZeneca has an average rating of "Moderate Buy" and a consensus price target of $81.00.

AstraZeneca Price Performance

Shares of AZN traded up $0.14 during trading hours on Friday, hitting $75.17. 6,687,806 shares of the company were exchanged, compared to its average volume of 6,265,456. The company has a market cap of $233.06 billion, a price-to-earnings ratio of 39.15, a P/E/G ratio of 1.31 and a beta of 0.50. AstraZeneca has a fifty-two week low of $60.47 and a fifty-two week high of $75.81. The company has a quick ratio of 0.64, a current ratio of 0.82 and a debt-to-equity ratio of 0.57. The firm's fifty day moving average is $67.27 and its 200 day moving average is $66.07.

AstraZeneca (NASDAQ:AZN - Get Free Report) last released its earnings results on Thursday, February 8th. The company reported $0.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.01). The company had revenue of $12.02 billion for the quarter, compared to analyst estimates of $12.07 billion. AstraZeneca had a return on equity of 30.19% and a net margin of 13.00%. The business's revenue for the quarter was up 7.3% compared to the same quarter last year. During the same period last year, the company posted $0.69 earnings per share. On average, equities analysts anticipate that AstraZeneca will post 4 earnings per share for the current fiscal year.

Institutional Investors Weigh In On AstraZeneca

A number of hedge funds have recently added to or reduced their stakes in the company. Cerity Partners LLC boosted its position in shares of AstraZeneca by 113.0% during the fourth quarter. Cerity Partners LLC now owns 95,677 shares of the company's stock valued at $6,444,000 after buying an additional 50,750 shares during the last quarter. Oppenheimer & Co. Inc. lifted its position in shares of AstraZeneca by 51.8% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 14,424 shares of the company's stock valued at $977,000 after buying an additional 4,919 shares during the last quarter. Barclays PLC lifted its position in shares of AstraZeneca by 317.4% during the 3rd quarter. Barclays PLC now owns 1,242,431 shares of the company's stock valued at $84,136,000 after buying an additional 944,765 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its position in shares of AstraZeneca by 43.7% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 163,011 shares of the company's stock valued at $10,979,000 after buying an additional 49,541 shares during the last quarter. Finally, Assenagon Asset Management S.A. purchased a new position in shares of AstraZeneca during the 3rd quarter valued at $2,241,000. Institutional investors and hedge funds own 20.35% of the company's stock.

About AstraZeneca

AstraZeneca PLC, a biopharmaceutical company, focuses on the discovery, development, manufacture, and commercialization of prescription medicines. The company's marketed products include Tagrisso, Imfinzi, Lynparza, Calquence, Enhertu, Orpathys, Truqap, Zoladex, Faslodex, Farxiga, Brilinta, Lokelma, Roxadustat, Andexxa, Crestor, Seloken, Onglyza, Bydureon, Fasenra, Breztri, Symbicort, Saphnelo, Tezspire, Pulmicort, Bevespi, and Daliresp for cardiovascular, renal, metabolism, and oncology.