Investors Purchase High Volume of Call Options on AstraZeneca (NASDAQ:AZN)

AstraZeneca PLC (NASDAQ:AZN) was the target of unusually large options trading on Monday. Stock investors acquired 8,615 call options on the stock. This represents an increase of 13% compared to the typical daily volume of 7,609 call options.

AstraZeneca Trading Up 0.3 %

NASDAQ AZN traded up $0.22 during trading hours on Monday, reaching $71.64. The company had a trading volume of 5,100,335 shares, compared to its average volume of 5,018,440. AstraZeneca has a 1-year low of $60.47 and a 1-year high of $87.68. The stock has a market capitalization of $222.13 billion, a P/E ratio of 34.50, a price-to-earnings-growth ratio of 1.32 and a beta of 0.47. The stock has a 50-day moving average of $79.17 and a 200 day moving average of $78.75. The company has a current ratio of 0.89, a quick ratio of 0.69 and a debt-to-equity ratio of 0.69.

Hedge Funds Weigh In On AstraZeneca

Hedge funds have recently made changes to their positions in the stock. McClarren Financial Advisors Inc. boosted its position in 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 buying an additional 247 shares during the period. GHP Investment Advisors Inc. purchased a new position in AstraZeneca in the second quarter valued at $26,000. Capital Performance Advisors LLP acquired a new position in AstraZeneca during the 3rd quarter worth $28,000. Pathway Financial Advisers LLC purchased a new stake in AstraZeneca during the 1st quarter worth about $29,000. Finally, RFP Financial Group LLC raised its position in AstraZeneca by 56.3% in the 1st quarter. RFP Financial Group LLC now owns 494 shares of the company’s stock valued at $33,000 after purchasing an additional 178 shares in the last quarter. Hedge funds and other institutional investors own 20.35% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on AZN shares. TD Cowen increased their price target on AstraZeneca from $90.00 to $95.00 and gave the company a “buy” rating in a report on Monday, August 12th. Erste Group Bank raised AstraZeneca from a “hold” rating to a “buy” rating in a research note on Wednesday, September 11th. Finally, Deutsche Bank Aktiengesellschaft lowered shares of AstraZeneca from a “hold” rating to a “sell” rating in a report on Friday, September 13th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $89.75.

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.