AstraZeneca (NASDAQ:AZN) Price Target Cut to $80.00 by Analysts at Argus

AstraZeneca (NASDAQ:AZN – Get Rating) had its price objective cut by equities researchers at Argus from $85.00 to $80.00 in a research report issued to clients and investors on Friday, The Fly reports. Argus’ target price would indicate a potential upside of 10.25% from the stock’s current price.

AZN has been the subject of a number of other research reports. StockNews.com started coverage on shares of AstraZeneca in a report on Thursday, May 18th. They set a “strong-buy” rating for the company. Morgan Stanley raised shares of AstraZeneca from an “equal weight” rating to an “overweight” rating in a report on Tuesday, April 11th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, AstraZeneca presently has a consensus rating of “Moderate Buy” and an average price target of $103.00.

AstraZeneca Stock Performance

AZN opened at $72.56 on Friday. The stock has a market cap of $224.91 billion, a P/E ratio of 47.23, a P/E/G ratio of 1.45 and a beta of 0.52. The firm has a fifty day moving average price of $73.83 and a 200 day moving average price of $69.02. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.90 and a quick ratio of 0.70. AstraZeneca has a 1 year low of $52.65 and a 1 year high of $76.56.

Institutional Investors Weigh In On AstraZeneca

Hedge funds have recently modified their holdings of the company. GQG Partners LLC lifted its position in AstraZeneca by 25.3% in the first quarter. GQG Partners LLC now owns 21,545,387 shares of the company’s stock valued at $1,495,465,000 after buying an additional 4,348,916 shares during the last quarter. Jennison Associates LLC lifted its position in shares of AstraZeneca by 205.8% during the first quarter. Jennison Associates LLC now owns 16,190,155 shares of the company’s stock worth $1,123,759,000 after purchasing an additional 10,895,302 shares in the last quarter. CIBC Private Wealth Group LLC lifted its position in shares of AstraZeneca by 0.8% during the third quarter. CIBC Private Wealth Group LLC now owns 10,813,940 shares of the company’s stock worth $593,036,000 after purchasing an additional 83,177 shares in the last quarter. Morgan Stanley lifted its position in shares of AstraZeneca by 18.0% during the fourth quarter. Morgan Stanley now owns 10,222,597 shares of the company’s stock worth $693,092,000 after purchasing an additional 1,561,194 shares in the last quarter. Finally, Bank of America Corp DE lifted its position in shares of AstraZeneca by 5.2% during the first quarter. Bank of America Corp DE now owns 10,179,720 shares of the company’s stock worth $706,574,000 after purchasing an additional 499,916 shares in the last quarter. Hedge funds and other institutional investors own 16.42% of the company’s stock.

AstraZeneca Company Profile

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AstraZeneca Plc is a holding company, which engages in the research, development, manufacture, and commercialization of prescription medicines. The company was founded on June 17, 1992 and is headquartered in Cambridge, the United Kingdom.