Liberum Capital Downgrades AstraZeneca plc (AZN) to Hold
AstraZeneca plc (LON:AZN) was downgraded by Liberum Capital from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday, MarketBeat reports. They currently have a GBX 5,000 ($64.57) price target on the biopharmaceutical company’s stock, up from their previous price target of GBX 4,800 ($61.99). Liberum Capital’s target price would indicate a potential upside of 5.94% from the stock’s current price.
Several other brokerages have also weighed in on AZN. Morgan Stanley reissued an “overweight” rating and set a GBX 5,600 ($72.32) target price on shares of AstraZeneca plc in a research report on Friday, June 23rd. UBS AG set a GBX 4,550 ($58.76) price target on AstraZeneca plc and gave the stock a “neutral” rating in a research note on Thursday, August 31st. Deutsche Bank AG restated a “buy” rating on shares of AstraZeneca plc in a research note on Monday, May 22nd. Jefferies Group LLC raised their price target on AstraZeneca plc from GBX 4,350 ($56.18) to GBX 4,800 ($61.99) and gave the stock a “hold” rating in a research note on Monday, September 11th. Finally, Shore Capital restated a “hold” rating on shares of AstraZeneca plc in a research note on Tuesday, August 29th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and nine have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of GBX 5,022.91 ($64.87).
AstraZeneca plc (LON AZN) traded down 1.80% during trading on Thursday, reaching GBX 4719.50. The company’s stock had a trading volume of 3,225,455 shares. AstraZeneca plc has a 1-year low of GBX 3,996.00 and a 1-year high of GBX 5,520.00. The stock has a 50 day moving average price of GBX 4,556.15 and a 200 day moving average price of GBX 4,880.61. The stock’s market capitalization is GBX 59.75 billion.
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In related news, insider Nazneen Rahman bought 39 shares of the firm’s stock in a transaction dated Thursday, July 27th. The stock was bought at an average price of GBX 4,370 ($56.44) per share, with a total value of £1,704.30 ($2,201.08).
About AstraZeneca plc
AstraZeneca PLC (AstraZeneca) is a biopharmaceutical company. The Company focuses on discovery and development of products, which are then manufactured, marketed and sold. The Company focuses on three main therapy areas: Oncology, Cardiovascular & Metabolic Disease (CVMD) and Respiratory, while selectively pursuing therapies in Autoimmunity, Infection and Neuroscience.
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