AstraZeneca (NASDAQ:AZN) Now Covered by Analysts at BNP Paribas

Research analysts at BNP Paribas started coverage on shares of AstraZeneca (NASDAQ:AZN) in a note issued to investors on Tuesday, MarketBeat reports. The brokerage set an “outperform” rating and a $75.00 price target on the stock. BNP Paribas’ target price points to a potential upside of 11.86% from the company’s previous close.

Other research analysts also recently issued research reports about the stock. UBS Group upgraded shares of AstraZeneca from a “neutral” rating to a “buy” rating in a research report on Thursday, February 13th. Morgan Stanley assumed coverage on AstraZeneca in a research report on Wednesday, February 12th. They set an “overweight” rating on the stock. One equities research analyst has rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $86.80.

AstraZeneca Stock Down 1.2 %

AstraZeneca stock opened at $67.05 on Tuesday. The business’s 50-day moving average price is $73.10 and its 200 day moving average price is $70.72. The company has a quick ratio of 0.74, a current ratio of 0.93 and a debt-to-equity ratio of 0.65. The firm has a market cap of $207.94 billion, a price-to-earnings ratio of 29.67, a price-to-earnings-growth ratio of 1.42 and a beta of 0.49. AstraZeneca has a 52 week low of $61.24 and a 52 week high of $87.68.

AstraZeneca (NASDAQ:AZN) last issued its quarterly earnings data on Thursday, February 6th. The company reported $1.05 EPS for the quarter, missing analysts’ consensus estimates of $1.10 by ($0.05). AstraZeneca had a return on equity of 32.23% and a net margin of 13.01%. As a group, sell-side analysts anticipate that AstraZeneca will post 4.51 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bank of America Corp DE raised its position in shares of AstraZeneca by 189.3% in the fourth quarter. Bank of America Corp DE now owns 24,026,966 shares of the company’s stock valued at $1,574,247,000 after buying an additional 15,722,197 shares during the last quarter. Marshall Wace LLP acquired a new stake in AstraZeneca in the 4th quarter valued at about $254,018,000. Boston Partners lifted its stake in AstraZeneca by 9,985.6% in the 4th quarter. Boston Partners now owns 3,707,479 shares of the company’s stock worth $243,444,000 after purchasing an additional 3,670,719 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of AstraZeneca during the 4th quarter worth approximately $158,018,000. Finally, Alyeska Investment Group L.P. grew its position in shares of AstraZeneca by 220.8% in the fourth quarter. Alyeska Investment Group L.P. now owns 3,027,511 shares of the company’s stock valued at $198,363,000 after purchasing an additional 2,083,645 shares in the last quarter. Hedge funds and other institutional investors own 20.35% of the company’s stock.

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.