Berenberg Bank Reaffirms Buy Rating for AstraZeneca (LON:AZN)

AstraZeneca (LON:AZN)‘s stock had its “buy” rating reiterated by investment analysts at Berenberg Bank in a note issued to investors on Monday,Digital Look reports. They currently have a GBX 140 ($1.75) target price on the biopharmaceutical company’s stock. Berenberg Bank’s target price points to a potential downside of 98.69% from the company’s current price.

A number of other brokerages have also recently issued reports on AZN. Shore Capital reissued a “buy” rating on shares of AstraZeneca in a report on Thursday, November 7th. JPMorgan Chase & Co. restated an “overweight” rating and issued a £140 ($175.15) price target on shares of AstraZeneca in a research report on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of GBX 7,935.67 ($99.28).

AstraZeneca Stock Performance

AstraZeneca stock traded down GBX 58 ($0.73) on Monday, hitting £106.54 ($133.29). The company’s stock had a trading volume of 302,760,500 shares, compared to its average volume of 77,672,750. The company has a quick ratio of 0.59, a current ratio of 0.89 and a debt-to-equity ratio of 84.97. The company has a fifty day moving average price of £105.36 and a 200-day moving average price of £116.94. AstraZeneca has a one year low of GBX 9,461 ($118.37) and a one year high of £133.88 ($167.50). The firm has a market cap of £165.14 billion, a P/E ratio of 3,382.22, a price-to-earnings-growth ratio of 0.86 and a beta of 0.17.

Insiders Place Their Bets

In other AstraZeneca news, insider Tony Mok purchased 1,500 shares of the stock in a transaction dated Tuesday, November 19th. The stock was bought at an average price of £126.80 ($158.64) per share, for a total transaction of £190,200 ($237,958.21). Also, insider Pascal Soriot acquired 20,000 shares of the business’s stock in a transaction that occurred on Thursday, November 14th. The stock was acquired at an average price of £102.03 ($127.65) per share, for a total transaction of £2,040,600 ($2,552,983.86). Insiders own 0.04% of the company’s stock.

About AstraZeneca

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.