AstraZeneca (NYSE:AZN) had its target price upped by equities research analysts at Sanford C. Bernstein from $40.00 to $42.00 in a report released on Monday. The brokerage presently has an “outperform” rating on the stock. Sanford C. Bernstein’s target price points to a potential upside of 20.55% from the stock’s current price.
Several other research analysts have also issued reports on AZN. Credit Suisse Group raised AstraZeneca from a “neutral” rating to an “outperform” rating in a research report on Monday, October 16th. Cowen reiterated a “hold” rating and set a $37.00 price target on shares of AstraZeneca in a research note on Tuesday, October 17th. Citigroup upgraded AstraZeneca to a “buy” rating in a research note on Wednesday, October 18th. Leerink Swann boosted their price target on AstraZeneca from $31.00 to $34.00 and gave the company a “market perform” rating in a research note on Monday, October 23rd. Finally, BMO Capital Markets set a $38.00 price target on AstraZeneca and gave the company a “buy” rating in a research note on Tuesday, October 31st. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. AstraZeneca presently has a consensus rating of “Hold” and a consensus target price of $34.91.
Shares of AstraZeneca (NYSE AZN) traded down $1.06 during trading hours on Monday, reaching $34.84. The company had a trading volume of 1,542,797 shares, compared to its average volume of 3,599,595. AstraZeneca has a 12 month low of $27.71 and a 12 month high of $36.70. The firm has a market cap of $90,914.66, a price-to-earnings ratio of 14.78, a P/E/G ratio of 2.78 and a beta of 0.70. The company has a quick ratio of 0.72, a current ratio of 0.94 and a debt-to-equity ratio of 1.09.
Institutional investors have recently made changes to their positions in the business. Wells Fargo & Company MN raised its holdings in shares of AstraZeneca by 7.6% during the third quarter. Wells Fargo & Company MN now owns 4,406,824 shares of the company’s stock valued at $149,303,000 after acquiring an additional 310,389 shares during the last quarter. Point72 Asset Management L.P. increased its holdings in shares of AstraZeneca by 103.1% in the third quarter. Point72 Asset Management L.P. now owns 1,224,939 shares of the company’s stock valued at $41,501,000 after purchasing an additional 621,831 shares during the last quarter. Zions Bancorporation increased its holdings in shares of AstraZeneca by 2,719.4% in the third quarter. Zions Bancorporation now owns 38,852 shares of the company’s stock valued at $1,317,000 after purchasing an additional 37,474 shares during the last quarter. Wrapmanager Inc. increased its holdings in shares of AstraZeneca by 21.1% in the third quarter. Wrapmanager Inc. now owns 52,340 shares of the company’s stock valued at $1,773,000 after purchasing an additional 9,120 shares during the last quarter. Finally, BB&T Investment Services Inc. increased its holdings in shares of AstraZeneca by 54.9% in the third quarter. BB&T Investment Services Inc. now owns 23,136 shares of the company’s stock valued at $782,000 after purchasing an additional 8,199 shares during the last quarter. 14.79% of the stock is owned by institutional investors and hedge funds.
TRADEMARK VIOLATION WARNING: “AstraZeneca (AZN) PT Raised to $42.00 at Sanford C. Bernstein” was first published by American Market News and is the property of of American Market News. If you are accessing this article on another site, it was copied illegally and republished in violation of U.S. and international trademark and copyright law. The correct version of this article can be viewed at https://www.americanbankingnews.com/2018/02/05/astrazeneca-azn-pt-raised-to-42-00-at-sanford-c-bernstein.html.
AstraZeneca Company Profile
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.
