Leerink Partnrs Predicts Increased Earnings for AstraZeneca

AstraZeneca PLC (NASDAQ:AZN) – Analysts at Leerink Partnrs boosted their FY2024 earnings per share estimates for AstraZeneca in a research note issued to investors on Monday, November 18th. Leerink Partnrs analyst A. Berens now forecasts that the company will post earnings per share of $4.28 for the year, up from their prior estimate of $4.10. The consensus estimate for AstraZeneca’s current full-year earnings is $4.07 per share. Leerink Partnrs also issued estimates for AstraZeneca’s Q4 2024 earnings at $1.21 EPS.

AstraZeneca (NASDAQ:AZN) last posted its quarterly earnings results on Tuesday, November 12th. The company reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.01 by $0.03. The business had revenue of $13.57 billion during the quarter, compared to analysts’ expectations of $13.08 billion. AstraZeneca had a net margin of 12.68% and a return on equity of 30.01%. The business’s quarterly revenue was up 18.0% on a year-over-year basis. During the same quarter last year, the company posted $0.87 earnings per share.

Other equities analysts have also issued reports about the stock. Deutsche Bank Aktiengesellschaft raised shares of AstraZeneca from a “sell” rating to a “hold” rating in a research report on Wednesday, November 6th. TD Cowen boosted their price objective on AstraZeneca from $90.00 to $95.00 and gave the company a “buy” rating in a report on Monday, August 12th. Finally, Erste Group Bank raised AstraZeneca from a “hold” rating to a “buy” rating in a report on Wednesday, September 11th. Two equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $89.75.

AstraZeneca Stock Performance

Shares of AZN stock opened at $63.80 on Wednesday. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.93 and a quick ratio of 0.71. The business has a fifty day moving average of $74.34 and a 200 day moving average of $78.06. The firm has a market capitalization of $197.82 billion, a price-to-earnings ratio of 30.53, a price-to-earnings-growth ratio of 1.17 and a beta of 0.47. AstraZeneca has a 1 year low of $60.47 and a 1 year high of $87.68.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. McClarren Financial Advisors Inc. raised its position in AstraZeneca by 320.8% during the third quarter. McClarren Financial Advisors Inc. now owns 324 shares of the company’s stock worth $25,000 after acquiring an additional 247 shares during the period. GHP Investment Advisors Inc. acquired a new position in shares of AstraZeneca during the 2nd quarter worth about $26,000. Capital Performance Advisors LLP purchased a new position in AstraZeneca in the 3rd quarter valued at about $28,000. Pathway Financial Advisers LLC acquired a new stake in AstraZeneca in the 1st quarter worth about $29,000. Finally, CANADA LIFE ASSURANCE Co boosted its holdings in AstraZeneca by 40.6% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 506 shares of the company’s stock worth $34,000 after buying an additional 146 shares during the last quarter. Hedge funds and other institutional investors own 20.35% 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.