Tidal Investments LLC Grows Position in Astrazeneca Plc $AZN

Tidal Investments LLC increased its position in Astrazeneca Plc (NYSE:AZN) by 14.5% during the 2nd quarter, Holdings Channel.com reports. The firm owned 248,108 shares of the company’s stock after purchasing an additional 31,379 shares during the period. Tidal Investments LLC’s holdings in Astrazeneca were worth $46,554,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in AZN. Triumph Capital Management purchased a new position in Astrazeneca during the 3rd quarter valued at about $25,000. MV Capital Management Inc. purchased a new stake in Astrazeneca in the fourth quarter worth about $26,000. Mascoma Wealth Management LLC bought a new position in shares of Astrazeneca during the first quarter valued at approximately $26,000. Roxbury Financial LLC purchased a new position in shares of Astrazeneca during the second quarter valued at approximately $29,000. Finally, Reflection Asset Management bought a new stake in shares of Astrazeneca in the 4th quarter worth approximately $31,000. Hedge funds and other institutional investors own 20.35% of the company’s stock.

Astrazeneca Stock Performance

Shares of AZN opened at $156.89 on Thursday. The company has a market cap of $243.32 billion, a price-to-earnings ratio of 23.45, a P/E/G ratio of 1.36 and a beta of 0.25. The business’s fifty day simple moving average is $167.51 and its two-hundred day simple moving average is $183.14. Astrazeneca Plc has a 12 month low of $145.79 and a 12 month high of $212.71. The company has a current ratio of 0.89, a quick ratio of 0.67 and a debt-to-equity ratio of 0.47.

Astrazeneca (NYSE:AZN) last posted its quarterly earnings results on Monday, July 27th. The company reported $2.63 earnings per share for the quarter, topping the consensus estimate of $2.50 by $0.13. The firm had revenue of $15.38 billion during the quarter, compared to analysts’ expectations of $15.44 billion. Astrazeneca had a return on equity of 31.45% and a net margin of 17.02%.The company’s revenue was up 6.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.17 earnings per share. Research analysts anticipate that Astrazeneca Plc will post 9.34 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

AZN has been the subject of a number of analyst reports. CICC Research initiated coverage on Astrazeneca in a research report on Sunday, August 23rd. They set an “outperform” rating and a $198.00 price objective for the company. The Goldman Sachs Group reissued a “buy” rating on shares of Astrazeneca in a research note on Wednesday, July 1st. Barclays reaffirmed a “buy” rating on shares of Astrazeneca in a research report on Monday, June 1st. Royal Bank Of Canada started coverage on shares of Astrazeneca in a research report on Tuesday. They set an “outperform” rating on the stock. Finally, Bank of America restated a “buy” rating on shares of Astrazeneca in a research note on Wednesday, July 1st. Fourteen research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $206.67.

More Astrazeneca News

Here are the key news stories impacting Astrazeneca this week:

• Positive Sentiment: Tozorakimab strengthens COPD growth outlook. Full phase III data presented at the European Respiratory Society Congress showed AstraZeneca’s experimental drug reduced COPD flare-ups across a broad range of patients. Citi said the results support a peak-sales opportunity of at least $7 billion—roughly twice consensus estimates—while AstraZeneca has previously outlined a forecast above $5 billion. AstraZeneca COPD data back Citi’s $7b peak sales case
• Positive Sentiment: Additional late-stage COPD evidence supports blockbuster potential. Two successful late-stage trials and benefits across patient subgroups improve the prospects for regulatory approval and commercial adoption of tozorakimab, potentially adding a significant growth driver to AstraZeneca’s respiratory portfolio. AstraZeneca’s COPD drug scores two late-stage trial wins as full data boosts blockbuster hopes
• Positive Sentiment: Imfinzi combination succeeds in small-cell lung cancer. AstraZeneca said Imfinzi combined with Amgen’s Imdelltra significantly improved overall survival in first-line extensive-stage small-cell lung cancer, expanding the potential value of its oncology franchise. AstraZeneca’s cancer drug combo hits main survival goal in late-stage trial
• Neutral Sentiment: Trading remains weak despite the positive pipeline news. Market coverage reported that AZN underperformed the market on both Tuesday and Wednesday. The reports described the stock’s performance but did not identify a specific new company-related negative catalyst, suggesting investors may be digesting the news, taking profits, or responding to broader market conditions. AstraZeneca slips Wednesday, underperforms market

Astrazeneca Company Profile

AstraZeneca plc is a global biopharmaceutical company focused on the discovery, development and commercialization of prescription medicines. Its principal therapeutic areas include oncology, cardiovascular, renal and metabolic diseases, respiratory and immunology conditions, and rare diseases.

The company’s portfolio includes medicines such as Tagrisso, Imfinzi and Lynparza for cancer; Farxiga for cardiovascular, kidney and metabolic conditions; Fasenra for severe asthma; and Symbicort for respiratory disease.