Brokerages Set AstraZeneca PLC (NASDAQ:AZN) Target Price at $89.75

AstraZeneca PLC (NASDAQ:AZN) has been assigned an average recommendation of “Buy” from the eleven research firms that are covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $89.75.

Several brokerages recently weighed in on AZN. Erste Group Bank upgraded shares of AstraZeneca from a “hold” rating to a “buy” rating in a research report on Wednesday, September 11th. TD Cowen lifted their price objective on shares of AstraZeneca from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Monday, August 12th. Finally, Deutsche Bank Aktiengesellschaft raised shares of AstraZeneca from a “sell” rating to a “hold” rating in a research note on Wednesday, November 6th.

Institutional Investors Weigh In On AstraZeneca

Several large investors have recently made changes to their positions in the company. Martin Investment Management LLC raised its position in shares of AstraZeneca by 2.8% in the 3rd quarter. Martin Investment Management LLC now owns 284,204 shares of the company’s stock valued at $22,571,000 after acquiring an additional 7,615 shares during the period. Integrated Advisors Network LLC grew its stake in shares of AstraZeneca by 46.6% during the 3rd quarter. Integrated Advisors Network LLC now owns 43,610 shares of the company’s stock worth $3,398,000 after acquiring an additional 13,860 shares in the last quarter. Creative Planning grew its stake in shares of AstraZeneca by 8.0% in the third quarter. Creative Planning now owns 224,751 shares of the company’s stock valued at $17,510,000 after buying an additional 16,692 shares in the last quarter. TD Asset Management Inc grew its stake in shares of AstraZeneca by 8.6% in the first quarter. TD Asset Management Inc now owns 1,537,410 shares of the company’s stock valued at $104,160,000 after buying an additional 121,876 shares in the last quarter. Finally, Northcape Wealth Management LLC bought a new position in shares of AstraZeneca in the second quarter valued at $269,000. Institutional investors own 20.35% of the company’s stock.

AstraZeneca Price Performance

Shares of AZN stock opened at $64.79 on Thursday. The firm has a fifty day moving average of $76.61 and a two-hundred day moving average of $78.54. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.89 and a quick ratio of 0.69. AstraZeneca has a 1-year low of $60.47 and a 1-year high of $87.68. The firm has a market cap of $200.89 billion, a P/E ratio of 31.30, a P/E/G ratio of 1.19 and a beta of 0.47.

About AstraZeneca

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.