AstraZeneca PLC (NASDAQ:AZN) Sees Significant Increase in Short Interest

AstraZeneca PLC (NASDAQ:AZN) was the recipient of a large increase in short interest during the month of October. As of October 31st, there was short interest totalling 4,630,000 shares, an increase of 14.9% from the October 15th total of 4,030,000 shares. Based on an average trading volume of 4,910,000 shares, the days-to-cover ratio is presently 0.9 days.

Analyst Upgrades and Downgrades

AZN has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft raised shares of AstraZeneca from a “sell” rating to a “hold” rating in a report on Wednesday, November 6th. Erste Group Bank upgraded shares of AstraZeneca from a “hold” rating to a “buy” rating in a report on Wednesday, September 11th. Finally, TD Cowen increased their price objective on AstraZeneca from $90.00 to $95.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. Two investment 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. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $89.75.

AstraZeneca Trading Down 2.8 %

NASDAQ AZN traded down $1.81 on Friday, reaching $63.23. The stock had a trading volume of 7,374,578 shares, compared to its average volume of 7,079,173. The company has a quick ratio of 0.69, a current ratio of 0.93 and a debt-to-equity ratio of 0.71. The stock has a fifty day moving average price of $75.03 and a two-hundred day moving average price of $78.22. AstraZeneca has a 12-month low of $60.47 and a 12-month high of $87.68. The firm has a market capitalization of $196.05 billion, a price-to-earnings ratio of 30.25, a P/E/G ratio of 1.17 and a beta of 0.47.

AstraZeneca (NASDAQ:AZN) last posted its quarterly earnings data on Tuesday, November 12th. The company reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.01 by $0.03. AstraZeneca had a return on equity of 30.01% and a net margin of 12.68%. The firm had revenue of $13.57 billion for the quarter, compared to the consensus estimate of $13.08 billion. During the same quarter in the previous year, the business earned $0.87 EPS. The company’s quarterly revenue was up 18.0% compared to the same quarter last year. As a group, sell-side analysts forecast that AstraZeneca will post 4.07 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. McClarren Financial Advisors Inc. increased its position in shares of AstraZeneca by 320.8% in 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 during the last quarter. GHP Investment Advisors Inc. purchased a new stake in AstraZeneca during the 2nd quarter valued at approximately $26,000. Capital Performance Advisors LLP acquired a new stake in AstraZeneca during the 3rd quarter worth approximately $28,000. Pathway Financial Advisers LLC purchased a new position in shares of AstraZeneca in the 1st quarter valued at approximately $29,000. Finally, CANADA LIFE ASSURANCE Co increased its holdings in shares of AstraZeneca by 40.6% in the first quarter. CANADA LIFE ASSURANCE Co now owns 506 shares of the company’s stock valued at $34,000 after purchasing an additional 146 shares during the period. Institutional investors and hedge funds 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.