UBS AG cut shares of AstraZeneca (NYSE:AZN) from a buy rating to a neutral rating in a research report sent to investors on Monday morning, TheFlyOnTheWall.com reports.
UBS AG has also taken action a number of other healthcare stocks recently. The firm raised its price target on shares of Linn Energy, LLC from $31.00 to $34.00. They have a buy rating on that stock. Also, UBS AG upgraded shares of Siliconware Precisio from a sell rating to a buy rating. Finally, UBS AG lowered its price target on shares of Flextronics International Ltd. from $9.25 to $9.00. They have a neutral rating on that stock.
Several other analysts have also recently commented on the stock. Analysts at Bank of America Corp. upgraded shares of AstraZeneca from an underperform rating to a neutral rating in a research note to investors on Monday, October 28th. They now have a $55.20 price target on the stock, up previously from $48.82. Separately, analysts at Jefferies Group downgraded shares of AstraZeneca from a hold rating to an underperform rating in a research note to investors on Friday, October 11th. Finally, analysts at Leerink Swann reiterated a market perform rating on shares of AstraZeneca in a research note to investors on Monday, September 30th. Five investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a buy rating to the company’s stock. AstraZeneca currently has a consensus rating of Hold and an average target price of $54.40.
Shares of AstraZeneca (NYSE:AZN) traded up 0.15% during mid-day trading on Monday, hitting $53.07. The stock had a trading volume of 647,443 shares. AstraZeneca has a 1-year low of $44.17 and a 1-year high of $53.73. The stock has a 50-day moving average of $51.77 and a 200-day moving average of $50.7. The company has a market cap of $66.444 billion and a P/E ratio of 14.29.
AstraZeneca (NYSE:AZN) last posted its quarterly earnings results on Thursday, October 31st. The company reported $1.21 earnings per share for the quarter, missing the analysts’ consensus estimate of $1.27 by $0.06. The company had revenue of $6.25 billion for the quarter, compared to the consensus estimate of $6.45 billion. During the same quarter in the prior year, the company posted $1.51 earnings per share. The company’s quarterly revenue was down 6.5% on a year-over-year basis. On average, analysts predict that AstraZeneca will post $5.18 earnings per share for the current fiscal year.
AstraZeneca PLC (NYSE:AZN) is a global biopharmaceutical company.
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