AstraZeneca (LON:AZN) Reaches New 12-Month High – Here’s Why

AstraZeneca PLC (LON:AZN) shares hit a new 52-week high on Tuesday . The stock traded as high as £128.64 ($173.42) and last traded at £127.26 ($171.56), with a volume of 2526122 shares trading hands. The stock had previously closed at £126.67 ($170.76).

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Berenberg Bank restated a “buy” rating and set a £142 target price on shares of AstraZeneca in a research report on Monday, September 1st. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a £110 price target on shares of AstraZeneca in a research note on Wednesday, July 30th. Finally, Shore Capital reaffirmed a “buy” rating and issued a £135 price objective on shares of AstraZeneca in a research report on Tuesday, July 29th. Three investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of £131.75.

AstraZeneca Trading Up 0.2%

The firm has a market capitalization of £197.60 billion, a P/E ratio of 2,400.38, a price-to-earnings-growth ratio of 0.86 and a beta of 0.17. The stock has a 50-day simple moving average of £116.23 and a two-hundred day simple moving average of £108.99. The company has a current ratio of 0.93, a quick ratio of 0.59 and a debt-to-equity ratio of 73.83.

Insider Buying and Selling

In other news, insider Aradhana Sarin sold 9,563 shares of the business’s stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of £115.12, for a total value of £1,100,892.56. Company insiders own 0.14% of the company’s stock.

About AstraZeneca

AstraZeneca (LSE/STO/Nasdaq: AZN) is a global, science-led biopharmaceutical company that focuses on the discovery, development and commercialisation of prescription medicines, primarily for the treatment of diseases in three therapy areas – Oncology, Cardiovascular, Renal & Metabolism, and Respiratory & Immunology.