AstraZeneca (NYSE:AZN) Shares Gap Up to $43.57

AstraZeneca plc (NYSE:AZN) shares gapped up prior to trading on Thursday . The stock had previously closed at $42.51, but opened at $43.57. AstraZeneca shares last traded at $44.61, with a volume of 4,158,074 shares changing hands.

Several analysts recently commented on AZN shares. Argus raised their target price on AstraZeneca to $50.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. DZ Bank cut AstraZeneca from a “hold” rating to a “sell” rating in a research report on Tuesday, September 3rd. Finally, ValuEngine cut AstraZeneca from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Four investment analysts have rated the stock with a sell rating, four have issued a hold rating and thirteen have given a buy rating to the company. AstraZeneca currently has a consensus rating of “Hold” and an average price target of $45.96.

The company has a market capitalization of $111.54 billion, a price-to-earnings ratio of 25.79, a PEG ratio of 1.44 and a beta of 0.49. The firm has a 50-day moving average price of $44.32 and a 200-day moving average price of $41.22. The company has a current ratio of 0.95, a quick ratio of 0.75 and a debt-to-equity ratio of 1.19.

AstraZeneca (NYSE:AZN) last issued its quarterly earnings results on Thursday, July 25th. The company reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.43. AstraZeneca had a return on equity of 35.83% and a net margin of 9.38%. The company had revenue of $5.72 billion for the quarter, compared to analysts’ expectations of $5.57 billion. During the same period last year, the firm earned $0.69 EPS. The firm’s revenue for the quarter was up 10.9% on a year-over-year basis. Equities research analysts predict that AstraZeneca plc will post 1.81 EPS for the current fiscal year.

Several hedge funds have recently modified their holdings of AZN. Cornerstone Advisors Inc. increased its position in shares of AstraZeneca by 61.3% during the 1st quarter. Cornerstone Advisors Inc. now owns 1,534 shares of the company’s stock valued at $62,000 after purchasing an additional 583 shares during the period. Toronto Dominion Bank increased its position in shares of AstraZeneca by 888.9% during the 1st quarter. Toronto Dominion Bank now owns 48,725 shares of the company’s stock valued at $1,970,000 after purchasing an additional 43,798 shares during the period. Teacher Retirement System of Texas acquired a new position in shares of AstraZeneca during the 1st quarter valued at $635,000. Buckingham Capital Management Inc. boosted its stake in shares of AstraZeneca by 113.2% during the 1st quarter. Buckingham Capital Management Inc. now owns 58,095 shares of the company’s stock worth $2,349,000 after acquiring an additional 30,843 shares in the last quarter. Finally, Keybank National Association OH boosted its stake in shares of AstraZeneca by 9.5% during the 1st quarter. Keybank National Association OH now owns 64,065 shares of the company’s stock worth $2,590,000 after acquiring an additional 5,582 shares in the last quarter. Institutional investors own 17.52% of the company’s stock.

About AstraZeneca (NYSE:AZN)

AstraZeneca PLC discovers, develops, and commercializes prescription medicines in the areas of oncology, cardiovascular, renal and metabolism, respiratory, autoimmunity, infection, neuroscience, and gastroenterology worldwide. Its marketed products include Arimidex, Casodex/Cosudex, Calquence, Faslodex, Imfinzi, Iressa, Lynparza, Nolvadex, Tagrisso, and Zoladex for oncology diseases; Atacand1/Atacand HCT/Atacand Plus, Brilinta/Brilique, Crestor, Plendil, Seloken/Toprol-XL, Tenormin, and Zestril for cardiovascular diseases; and Bydureon, Byetta, Farxiga/Forxiga, Kombiglyze XR, Komboglyze, Onglyza, Qtern, Symlin, Xigduo, and Xigduo XR for metabolic diseases.

Featured Story: Limitations to arbitrage trading

Receive News & Ratings for AstraZeneca Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AstraZeneca and related companies with MarketBeat.com's FREE daily email newsletter.