AstraZeneca plc Raised to “Buy” at Berenberg Bank (AZN)

AstraZeneca plc logoAstraZeneca plc (NYSE:AZN) was upgraded by stock analystsat Berenberg Bank from a “hold” rating to a “buy” rating in a report issued on Thursday, TheFlyOnTheWall.com reports.

AstraZeneca plc (NYSE:AZN) opened at 64.64 on Thursday. AstraZeneca plc has a 1-year low of $63.22 and a 1-year high of $76.57. The stock’s 50-day moving average is $67.10 and its 200-day moving average is $69.09. The company has a market cap of $81.70 billion and a price-to-earnings ratio of 63.81. AstraZeneca plc’s stock is set to split on Monday, July 27th. The 2-1 split was announced on Friday, June 26th. The newly created shares will be issued to shareholders after the closing bell on Friday, July 24th.

AstraZeneca plc (NYSE:AZN) last released its earnings data on Friday, April 24th. The biopharmaceutical company reported $1.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.07 by $0.01. The company had revenue of $6.06 billion for the quarter, compared to the consensus estimate of $5.87 billion. During the same quarter in the previous year, the company posted $1.17 earnings per share. The company’s revenue for the quarter was down 5.7% on a year-over-year basis. Analysts expect that AstraZeneca plc will post $4.21 EPS for the current fiscal year.

Other equities research analysts have also recently issued reports about the stock. Analysts at HSBC initiated coverage on shares of AstraZeneca plc in a research note on Thursday, June 25th. They set a “hold” rating on the stock. Analysts at Deutsche Bank reiterated a “hold” rating on shares of AstraZeneca plc in a research note on Tuesday, June 9th. Analysts at Kepler Capital Markets reiterated a “reduce” rating on shares of AstraZeneca plc in a research note on Tuesday, June 2nd. Analysts at BNP Paribas reiterated an “outperform” rating on shares of AstraZeneca plc in a research note on Tuesday, June 2nd. Finally, analysts at Jefferies Group reiterated a “buy” rating on shares of AstraZeneca plc in a research note on Monday, June 1st. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating and eleven have issued a buy rating to the company’s stock. AstraZeneca plc presently has an average rating of “Hold” and an average price target of $74.00.

AstraZeneca PLC (NYSE:AZN) is a global biopharmaceutical company. The Company discovers, develops and commercializes prescription medicines for Cardiovascular and Metabolic diseases; Oncology; Respiratory, Inflammation and Autoimmunity, Infection, Neuroscience and Gastrointestinal. The Company’s medicines include Crestor for managing cholesterol levels; Seloken/Toprol-XL for hypertension, heart failure and angina; Onglyza for Type 2; Iressa for lung cancer; Faslodex for breast cancer; Zoladex for prostate and breast cancer; Pulmicort for asthma; Symbicort for asthma and COPD (chronic obstructive pulmonary); Nexium for acid-related diseases; Seroquel XR for schizophrenia, bipolar disorder and depressive disorder, and Synagis for RSV (respiratory syncytial virus), a respiratory infection in infants. The Company’s pipeline includes 133 projects, of which 118 are in the clinical phase of development. AstraZeneca operates in over 100 countries.

­­ by Max Byerly

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