AstraZeneca Upgraded to “Outperform” at Leerink Swann (AZN)
AstraZeneca (NYSE:AZN) was upgraded by equities research analysts at Leerink Swann from a “market perform” rating to an “outperform” rating in a research note issued to investors on Tuesday, TheFlyOnTheWall.com reports. The firm currently has a $68.00 price target on the stock, up from their previous price target of $55.00. Leerink Swann’s price target indicates a potential upside of 9.38% from the stock’s previous close.
Shares of AstraZeneca (NYSE:AZN) traded up 1.25% during mid-day trading on Tuesday, hitting $62.95. The stock had a trading volume of 2,478,658 shares. AstraZeneca has a 52-week low of $44.46 and a 52-week high of $60.59. The stock has a 50-day moving average of $57.89 and a 200-day moving average of $52.63. The company has a market cap of $78.876 billion and a P/E ratio of 16.76.
AstraZeneca (NYSE:AZN) last posted its quarterly earnings results on Thursday, October 31st. The company reported $1.21 earnings per share for the quarter, missing the analysts’ consensus estimate of $1.27 by $0.06. The company had revenue of $6.25 billion for the quarter, compared to the consensus estimate of $6.45 billion. During the same quarter last year, the company posted $1.51 earnings per share. AstraZeneca’s revenue was down 6.5% compared to the same quarter last year. On average, analysts predict that AstraZeneca will post $5.07 earnings per share for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at UBS AG initiated coverage on shares of AstraZeneca in a research note to investors on Thursday, January 9th. They set a “buy” rating on the stock. Separately, analysts at Jefferies Group upgraded shares of AstraZeneca from an “underperform” rating to a “hold” rating in a research note to investors on Thursday, January 9th. Finally, analysts at Zacks reiterated a “neutral” rating on shares of AstraZeneca in a research note to investors on Monday, January 6th. They now have a $62.00 price target on the stock. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $59.04.
AstraZeneca PLC (NYSE:AZN) is a global biopharmaceutical company.
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