AstraZeneca plc’s “Neutral” Rating Reaffirmed at Zacks (AZN)
AstraZeneca plc (NYSE:AZN)‘s stock had its “neutral” rating restated by Zacks in a research note issued on Friday. They currently have a $79.00 price target on the stock. Zacks‘s target price would suggest a potential upside of 4.76% from the stock’s previous close.
Zacks’ analyst wrote, “AstraZeneca’s first-quarter 2014 core earnings of $1.17 per ADS missed the Zacks Consensus Estimate of $1.20. Earnings were also down 11% (at CER) year over year. AstraZeneca’s quarterly revenues increased 3% (at CER) year over year to $6.4 billion. Revenues were above the Zacks Consensus Estimate of $6.3 billion. AstraZeneca continues to expect 2014 revenues to decline in the low-to-mid single digits and core earnings to decline in the teens. We expect the top and the bottom line to remain under pressure as Nexium went off-patent in May 2014. We are nonetheless pleased with recent approvals (Epanova, Forxiga and Myalept in the U.S. and Xigduo in the EU) at AstraZeneca. We are also positive on AstraZeneca’s efforts to boost its pipeline. We maintain a Neutral recommendation on the stock.”
Shares of AstraZeneca plc (NYSE:AZN) traded up 0.34% during mid-day trading on Friday, hitting $75.67. The stock had a trading volume of 3,078,052 shares. AstraZeneca plc has a 52 week low of $46.87 and a 52 week high of $82.68. The stock has a 50-day moving average of $75.10 and a 200-day moving average of $66.5. The company has a market cap of $95.420 billion and a price-to-earnings ratio of 46.24.
AstraZeneca plc (NYSE:AZN) last posted its quarterly earnings results on Thursday, April 24th. The company reported $1.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.23 by $0.06. The company had revenue of $6.42 billion for the quarter, compared to the consensus estimate of $6.32 billion. During the same quarter in the previous year, the company posted $1.41 earnings per share. The company’s revenue for the quarter was up .5% on a year-over-year basis. Analysts expect that AstraZeneca plc will post $4.23 EPS for the current fiscal year.
A number of other analysts have also recently weighed in on AZN. Analysts at Beaufort Securities reiterated a “hold” rating on shares of AstraZeneca plc in a research note on Monday. Separately, analysts at Deutsche Bank reiterated a “hold” rating on shares of AstraZeneca plc in a research note on Friday, June 13th. Finally, analysts at Jefferies Group reiterated a “hold” rating on shares of AstraZeneca plc in a research note on Wednesday, June 11th. Four investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $58.67.
AstraZeneca PLC (NYSE:AZN) is a global biopharmaceutical company.
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