AstraZeneca plc (LON:AZN) Upgraded by Investec to Buy

Investec upgraded shares of AstraZeneca plc (LON:AZN) from a hold rating to a buy rating in a research note issued to investors on Wednesday. The firm currently has GBX 4,900 ($63.81) target price on the biopharmaceutical company’s stock, down from their previous target price of GBX 5,000 ($65.11).

Several other research firms have also commented on AZN. Shore Capital reaffirmed a hold rating on shares of AstraZeneca plc in a research report on Wednesday, June 21st. Deutsche Bank AG cut their price target on AstraZeneca plc from GBX 5,700 ($74.23) to GBX 5,300 ($69.02) and set a buy rating on the stock in a research report on Thursday, August 3rd. HSBC Holdings plc set a GBX 4,100 ($53.39) price target on AstraZeneca plc and gave the stock a sell rating in a research report on Tuesday. Liberum Capital reaffirmed a buy rating and set a GBX 5,500 ($71.62) price target on shares of AstraZeneca plc in a research report on Monday, June 5th. Finally, Credit Suisse Group reaffirmed a neutral rating and set a GBX 5,000 ($65.11) price target on shares of AstraZeneca plc in a research report on Monday, June 19th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the company. The company presently has a consensus rating of Hold and a consensus price target of GBX 4,932.67 ($64.24).

Shares of AstraZeneca plc (AZN) traded down 0.24% during midday trading on Wednesday, reaching GBX 4426.50. The company had a trading volume of 1,581,454 shares. AstraZeneca plc has a 52-week low of GBX 3,996.00 and a 52-week high of GBX 5,520.00. The company’s 50 day moving average price is GBX 4,972.77 and its 200 day moving average price is GBX 4,859.70. The stock’s market capitalization is GBX 56.04 billion.

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The business also recently announced a dividend, which will be paid on Monday, September 11th. Shareholders of record on Thursday, August 10th will be paid a GBX 68.90 ($0.90) dividend. The ex-dividend date of this dividend is Thursday, August 10th. This represents a dividend yield of 1.35%.

In other AstraZeneca plc news, insider Nazneen Rahman purchased 39 shares of the firm’s stock in a transaction that occurred on Thursday, July 27th. The shares were purchased at an average cost of GBX 4,370 ($56.91) per share, for a total transaction of £1,704.30 ($2,219.43).

AstraZeneca plc Company Profile

AstraZeneca PLC (AstraZeneca) is a biopharmaceutical company. The Company focuses on discovery and development of products, which are then manufactured, marketed and sold. The Company focuses on three main therapy areas: Oncology, Cardiovascular & Metabolic Disease (CVMD) and Respiratory, while selectively pursuing therapies in Autoimmunity, Infection and Neuroscience.

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