AstraZeneca PLC (NASDAQ:AZN) Short Interest Update

AstraZeneca PLC (NASDAQ:AZN) was the target of a significant increase in short interest in the month of November. As of November 15th, there was short interest totalling 8,070,000 shares, an increase of 74.3% from the October 31st total of 4,630,000 shares. Based on an average trading volume of 5,380,000 shares, the days-to-cover ratio is currently 1.5 days.

AstraZeneca Trading Up 1.3 %

Shares of NASDAQ:AZN traded up $0.84 during trading on Thursday, reaching $67.20. The company’s stock had a trading volume of 4,986,015 shares, compared to its average volume of 8,765,457. The firm’s 50 day simple moving average is $72.72 and its two-hundred day simple moving average is $77.58. The company has a current ratio of 0.93, a quick ratio of 0.71 and a debt-to-equity ratio of 0.71. AstraZeneca has a 12 month low of $60.47 and a 12 month high of $87.68. The stock has a market capitalization of $208.36 billion, a PE ratio of 32.15, a price-to-earnings-growth ratio of 1.22 and a beta of 0.47.

AstraZeneca (NASDAQ:AZN) last released its quarterly earnings results on Tuesday, November 12th. The company reported $1.04 earnings per share 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 company had revenue of $13.57 billion for the quarter, compared to analyst estimates of $13.08 billion. During the same quarter in the prior year, the firm posted $0.87 EPS. AstraZeneca’s quarterly revenue was up 18.0% compared to the same quarter last year. On average, research analysts predict that AstraZeneca will post 4.1 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. TD Cowen increased their target price on AstraZeneca from $90.00 to $95.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. Erste Group Bank upgraded shares of AstraZeneca from a “hold” rating to a “buy” rating in a research report on Wednesday, September 11th. UBS Group upgraded shares of AstraZeneca from a “sell” rating to a “neutral” rating in a research report on Wednesday, November 20th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of AstraZeneca from a “sell” rating to a “hold” rating in a report on Wednesday, November 6th. Three equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, AstraZeneca has a consensus rating of “Moderate Buy” and a consensus price target of $89.75.

Institutional Trading of AstraZeneca

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AZN. Manning & Napier Advisors LLC bought a new stake in shares of AstraZeneca during the 2nd quarter worth approximately $188,476,000. Bank of Montreal Can grew its holdings in shares of AstraZeneca by 109.6% in the third quarter. Bank of Montreal Can now owns 3,071,333 shares of the company’s stock worth $238,397,000 after purchasing an additional 1,605,758 shares during the last quarter. Franklin Resources Inc. increased its stake in AstraZeneca by 8.7% in the 3rd quarter. Franklin Resources Inc. now owns 19,122,675 shares of the company’s stock worth $1,492,649,000 after buying an additional 1,522,715 shares during the period. Hsbc Holdings PLC boosted its position in AstraZeneca by 750.3% in the 2nd quarter. Hsbc Holdings PLC now owns 1,283,274 shares of the company’s stock valued at $100,523,000 after buying an additional 1,132,362 shares during the period. Finally, Farallon Capital Management LLC grew its stake in AstraZeneca by 65.1% in the 2nd quarter. Farallon Capital Management LLC now owns 2,409,718 shares of the company’s stock worth $187,934,000 after acquiring an additional 950,000 shares in the last quarter. 20.35% of the stock is owned by hedge funds and other institutional investors.

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.