AstraZeneca (NASDAQ:AZN) Hits New 52-Week High at $78.53

AstraZeneca PLC (NASDAQ:AZN)’s stock price hit a new 52-week high on Tuesday . The company traded as high as $78.53 and last traded at $78.50, with a volume of 964561 shares traded. The stock had previously closed at $77.11.

Analysts Set New Price Targets

A number of brokerages have weighed in on AZN. BMO Capital Markets boosted their target price on AstraZeneca from $80.00 to $82.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th. Deutsche Bank Aktiengesellschaft raised AstraZeneca from a “sell” rating to a “hold” rating in a research report on Tuesday, April 16th. Three equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, AstraZeneca has an average rating of “Moderate Buy” and an average price target of $81.00.

AstraZeneca Stock Down 0.5 %

The stock has a market cap of $244.31 billion, a PE ratio of 38.63, a price-to-earnings-growth ratio of 1.42 and a beta of 0.47. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.70 and a current ratio of 0.89. The company’s 50-day moving average price is $71.33 and its 200 day moving average price is $67.56.

AstraZeneca (NASDAQ:AZN) last released its quarterly earnings results on Thursday, April 25th. The company reported $1.03 EPS for the quarter, beating the consensus estimate of $0.95 by $0.08. AstraZeneca had a net margin of 13.30% and a return on equity of 30.42%. The firm had revenue of $12.68 billion during the quarter, compared to analyst estimates of $11.92 billion. As a group, analysts forecast that AstraZeneca PLC will post 4.04 EPS for the current fiscal year.

Institutional Investors Weigh In On AstraZeneca

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Lindbrook Capital LLC increased its holdings in AstraZeneca by 1.7% in the 1st quarter. Lindbrook Capital LLC now owns 8,005 shares of the company’s stock worth $542,000 after acquiring an additional 137 shares in the last quarter. CANADA LIFE ASSURANCE Co increased its holdings in AstraZeneca by 40.6% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 506 shares of the company’s stock worth $34,000 after acquiring an additional 146 shares in the last quarter. Gallacher Capital Management LLC increased its holdings in AstraZeneca by 2.8% in the 1st quarter. Gallacher Capital Management LLC now owns 5,431 shares of the company’s stock worth $368,000 after acquiring an additional 150 shares in the last quarter. Beaird Harris Wealth Management LLC increased its holdings in AstraZeneca by 8.9% in the 4th quarter. Beaird Harris Wealth Management LLC now owns 1,851 shares of the company’s stock worth $125,000 after acquiring an additional 151 shares in the last quarter. Finally, Sage Mountain Advisors LLC boosted its stake in AstraZeneca by 2.7% in the 1st quarter. Sage Mountain Advisors LLC now owns 6,017 shares of the company’s stock worth $408,000 after purchasing an additional 158 shares during the period. 20.35% of the stock is owned by hedge funds and other institutional investors.

AstraZeneca Company Profile

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.