Danske Begins Coverage on AstraZeneca (NASDAQ:AZN)

Equities research analysts at Danske began coverage on shares of AstraZeneca (NASDAQ:AZNGet Rating) in a note issued to investors on Tuesday, The Fly reports. The firm set a “buy” rating on the stock.

Other research analysts have also recently issued reports about the stock. TheStreet raised shares of AstraZeneca from a “c+” rating to a “b-” rating in a report on Thursday, March 10th. Kepler Capital Markets cut shares of AstraZeneca from a “buy” rating to a “hold” rating in a report on Wednesday, May 18th. Barclays increased their price target on shares of AstraZeneca from £115 ($144.71) to £120 ($151.00) in a report on Thursday, April 14th. Credit Suisse Group increased their price target on shares of AstraZeneca from GBX 9,000 ($113.25) to £110 ($138.42) in a report on Friday, April 8th. Finally, Stifel Nicolaus initiated coverage on shares of AstraZeneca in a research report on Monday, February 28th. They set a “buy” rating on the stock. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $7,223.13.

Shares of NASDAQ:AZN opened at $66.41 on Tuesday. The company has a 50-day simple moving average of $66.00 and a 200-day simple moving average of $60.89. AstraZeneca has a one year low of $53.63 and a one year high of $71.70. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.76 and a current ratio of 1.16. The stock has a market capitalization of $205.79 billion, a price-to-earnings ratio of -207.52, a PEG ratio of 1.19 and a beta of 0.45.

AstraZeneca (NASDAQ:AZNGet Rating) last announced its earnings results on Friday, April 29th. The company reported $0.95 EPS for the quarter, beating analysts’ consensus estimates of $0.86 by $0.09. AstraZeneca had a negative net margin of 2.56% and a positive return on equity of 26.29%. The business had revenue of $11.39 billion during the quarter, compared to analysts’ expectations of $10.96 billion. During the same period in the prior year, the company earned $0.81 earnings per share. The business’s revenue was up 55.6% compared to the same quarter last year. As a group, research analysts forecast that AstraZeneca will post 3.34 EPS for the current fiscal year.

Several hedge funds have recently added to or reduced their stakes in AZN. DB Wealth Management Group LLC acquired a new stake in AstraZeneca during the first quarter worth approximately $26,000. Parkside Financial Bank & Trust raised its stake in AstraZeneca by 4,875.0% during the first quarter. Parkside Financial Bank & Trust now owns 398 shares of the company’s stock worth $26,000 after purchasing an additional 390 shares during the period. Arlington Partners LLC purchased a new position in AstraZeneca during the fourth quarter worth approximately $25,000. MayTech Global Investments LLC purchased a new position in AstraZeneca during the third quarter worth approximately $25,000. Finally, Fairfield Bush & CO. purchased a new position in AstraZeneca during the first quarter worth approximately $28,000. Institutional investors and hedge funds own 20.46% of the company’s stock.

About AstraZeneca (Get Rating)

AstraZeneca PLC, a biopharmaceutical company, focuses on the discovery, development, manufacturing, and commercialization of prescription medicines. Its marketed products include Calquence, Enhertu, Faslodex, Imfinzi, Iressa, Koselugo, Lumoxiti, Lynparza, Orpathys, Tagrisso, and Zoladex for oncology; Brilinta/Brilique, Bydureon/Byetta, BCise, Byetta, Crestor, Evrenzo, Farxiga/Forxiga, Komboglyze/Kombiglyze XR, Lokelma, Onglyza, Qtern, and Xigduo/Xigduo XR for cardiovascular, renal, and metabolism diseases; Bevespi Aerosphere, Breztri Aerosphere, Daliresp/Daxas, Duaklir Genuair, Fasenra, Pulmicort, Saphnelo, Symbicort, and Tudorza/Eklira/Bretaris for respiratory and immunology; and Andexxa/Ondexxya, Kanuma, Soliris, Strensiq, and Ultomiris for rare diseases.

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