AstraZeneca (NASDAQ:AZN) Shares Down 5.1% – What’s Next?

AstraZeneca PLC (NASDAQ:AZN)’s stock price dropped 5.1% during mid-day trading on Wednesday . The company traded as low as $71.40 and last traded at $71.40. Approximately 1,006,753 shares were traded during trading, a decline of 80% from the average daily volume of 4,979,604 shares. The stock had previously closed at $75.22.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft lowered AstraZeneca from a “hold” rating to a “sell” rating in a research report on Friday, September 13th. Erste Group Bank raised shares of AstraZeneca from a “hold” rating to a “buy” rating in a report on Wednesday, September 11th. Finally, TD Cowen boosted their target price on shares of AstraZeneca from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Monday, August 12th. One analyst has rated the stock with a sell rating, one has issued a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $89.75.

AstraZeneca Stock Performance

The stock has a market cap of $226.13 billion, a price-to-earnings ratio of 36.34, a PEG ratio of 1.39 and a beta of 0.46. The company’s 50 day simple moving average is $80.03 and its 200 day simple moving average is $78.68. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.69 and a current ratio of 0.89.

Institutional Investors Weigh In On AstraZeneca

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AZN. McClarren Financial Advisors Inc. boosted its position in shares of AstraZeneca by 320.8% during the 3rd quarter. McClarren Financial Advisors Inc. now owns 324 shares of the company’s stock valued at $25,000 after purchasing an additional 247 shares in the last quarter. GHP Investment Advisors Inc. bought a new stake in AstraZeneca during the second quarter worth approximately $26,000. Pathway Financial Advisers LLC acquired a new position in AstraZeneca in the first quarter worth approximately $29,000. RFP Financial Group LLC increased its holdings in shares of AstraZeneca by 56.3% in the first quarter. RFP Financial Group LLC now owns 494 shares of the company’s stock valued at $33,000 after buying an additional 178 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co lifted its position in shares of AstraZeneca by 40.6% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 506 shares of the company’s stock valued at $34,000 after acquiring an additional 146 shares during the last quarter. Institutional investors own 20.35% of the company’s stock.

AstraZeneca Company Profile

AstraZeneca PLC, a biopharmaceutical company, focuses on the discovery, development, manufacture, and commercialization of prescription medicines. The company’s marketed products include Tagrisso, Imfinzi, Lynparza, Calquence, Enhertu, Orpathys, Truqap, Zoladex, Faslodex, Farxiga, Brilinta, Lokelma, Roxadustat, Andexxa, Crestor, Seloken, Onglyza, Bydureon, Fasenra, Breztri, Symbicort, Saphnelo, Tezspire, Pulmicort, Bevespi, and Daliresp for cardiovascular, renal, metabolism, and oncology.