Canandaigua National Bank & Trust Co. acquired a new position in shares of Astrazeneca Plc (NYSE:AZN – Free Report) in the third quarter, HoldingsChannel.com reports. The institutional investor acquired 11,271 shares of the company’s stock, valued at approximately $1,835,000.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Mascoma Wealth Management LLC acquired a new stake in Astrazeneca during the 1st quarter valued at $26,000. MV Capital Management Inc. acquired a new position in shares of Astrazeneca in the fourth quarter worth $26,000. Roxbury Financial LLC purchased a new stake in shares of Astrazeneca in the second quarter valued at $29,000. Reflection Asset Management purchased a new stake in shares of Astrazeneca in the fourth quarter valued at $31,000. Finally, Resources Management Corp CT ADV acquired a new stake in shares of Astrazeneca during the first quarter valued at $35,000. Hedge funds and other institutional investors own 20.35% of the company’s stock.
Key Headlines Impacting Astrazeneca
Here are the key news stories impacting Astrazeneca this week:
- Positive Sentiment: Analysts remain bullish ahead of third-quarter results. Jefferies reiterated its “buy” rating and 17,500-pence price target, citing expectations for revenue roughly 1% above consensus and core EBIT about 3% ahead of forecasts. Jefferies maintains buy rating on AstraZeneca
- Positive Sentiment: Citi raised its price target to £186 from £178 and maintained a “buy” rating. The broker increased its peak-sales forecast for tozorakimab to $7 billion and SERENA-6 to $1.1 billion, more than offsetting the removal of its $1.7 billion forecast for SERENA-4. Citi raises AstraZeneca target
- Positive Sentiment: AstraZeneca opened a $1 billion global R&D center in Kendall Square, Massachusetts. The facility will combine oncology, cell therapy, chronic and rare disease, and obesity research, using robotics and artificial intelligence to support drug development and strengthen the company’s long-term pipeline. AstraZeneca opens new R&D hub
- Positive Sentiment: AstraZeneca completed a $2 billion investment in Summit Therapeutics, expanding its exposure to Summit’s drug-development programs and potentially adding future growth to its oncology portfolio. AstraZeneca completes investment in Summit Therapeutics
- Neutral Sentiment: Valuation appears reasonable based on current earnings, which may limit concerns about overpricing, although investors still await third-quarter results for confirmation of operating momentum. AstraZeneca stock valuation analysis
Astrazeneca Trading Up 1.0%
Astrazeneca (NYSE:AZN – Get Free Report) last posted its quarterly earnings results on Monday, July 27th. The company reported $2.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.50 by $0.13. The firm had revenue of $15.38 billion during the quarter, compared to the consensus estimate of $15.44 billion. Astrazeneca had a return on equity of 31.45% and a net margin of 17.02%.The firm’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.17 earnings per share. Analysts expect that Astrazeneca Plc will post 9.37 earnings per share for the current year.
Wall Street Analyst Weigh In
AZN has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft upgraded Astrazeneca from a “sell” rating to a “hold” rating in a research report on Tuesday, September 15th. Zacks Research cut shares of Astrazeneca from a “hold” rating to a “strong sell” rating in a research note on Monday, September 14th. Weiss Ratings downgraded shares of Astrazeneca from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, July 28th. Wall Street Zen raised shares of Astrazeneca from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, Royal Bank Of Canada started coverage on shares of Astrazeneca in a research note on Tuesday, September 8th. They set an “outperform” rating on the stock. Fourteen research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $206.67.
Get Our Latest Analysis on AZN
About Astrazeneca
AstraZeneca PLC is a global biopharmaceutical company headquartered in Cambridge, United Kingdom. Its research, development and commercial operations focus on prescription medicines for serious and chronic diseases, with an emphasis on discovering and delivering innovative therapies rather than operating as a diversified healthcare conglomerate.
The company’s principal therapeutic areas include oncology; cardiovascular, renal and metabolic diseases; respiratory and immunological conditions; and rare diseases.
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