AstraZeneca (NASDAQ:AZN) Shares Gap Down - Here's Why
AstraZeneca (NASDAQ:AZN) shares gapped down before trading, opening at .14 after closing at .43. The stock last traded at .72 with a volume of over 2 million shares. Analysts have mixed ratings: TD Cowen upgraded to "buy," Deutsche Bank downgraded to "sell," and Erste Group Bank upgraded to "buy." The consensus rating is "Moderate Buy" with a target price of .75. Institutional investors hold 20.35% of the stock. AstraZeneca focuses on biopharmaceuticals, with a market cap of .59 billion and a P/E ratio of 32.11.
Shares of AstraZeneca PLC (NASDAQ:AZN - Get Free Report) gapped down prior to trading on Tuesday . The stock had previously closed at $71.43, but opened at $67.14. AstraZeneca shares last traded at $66.72, with a volume of 2,053,509 shares changing hands.
Wall Street Analysts Forecast Growth
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A number of analysts have recently commented on the company. TD Cowen boosted their target price on AstraZeneca from $90.00 to $95.00 and gave the company a "buy" rating in a report on Monday, August 12th. Deutsche Bank Aktiengesellschaft downgraded shares of AstraZeneca from a "hold" rating to a "sell" rating in a report on Friday, September 13th. Finally, Erste Group Bank raised AstraZeneca from a "hold" rating to a "buy" rating in a research note on Wednesday, September 11th. One analyst has rated the stock with a sell rating, one has given a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $89.75.
Read Our Latest Stock Analysis on AZN
AstraZeneca Trading Down 6.7 %
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The firm has a market cap of $206.59 billion, a P/E ratio of 32.11, a P/E/G ratio of 1.32 and a beta of 0.47. The firm has a fifty day moving average of $78.87 and a 200-day moving average of $78.77. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.69 and a current ratio of 0.89.
Hedge Funds Weigh In On AstraZeneca
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Martin Investment Management LLC grew its position in 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 buying an additional 7,615 shares in the last quarter. Integrated Advisors Network LLC raised its holdings in AstraZeneca by 46.6% during the third quarter. Integrated Advisors Network LLC now owns 43,610 shares of the company's stock worth $3,398,000 after purchasing an additional 13,860 shares in the last quarter. Creative Planning lifted its position in AstraZeneca by 8.0% in the third quarter. Creative Planning now owns 224,751 shares of the company's stock worth $17,510,000 after purchasing an additional 16,692 shares during the period. TD Asset Management Inc raised its stake in shares of AstraZeneca by 8.6% in the 1st quarter. TD Asset Management Inc now owns 1,537,410 shares of the company's stock worth $104,160,000 after buying an additional 121,876 shares in the last quarter. Finally, Northcape Wealth Management LLC bought a new position in AstraZeneca during the second quarter valued at about $269,000. 20.35% of the stock is owned by institutional investors.
AstraZeneca Company Profile
(Get Free Report)- AstraZeneca Shares Fall Despite EPS Beat and Raised Guidance
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.
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