AstraZeneca (NASDAQ:AZN) Shares Gap Down – Should You Sell?

AstraZeneca PLC (NASDAQ:AZNGet Free Report) shares gapped down before the market opened on Tuesday . The stock had previously closed at $71.43, but opened at $67.14. AstraZeneca shares last traded at $66.72, with a volume of 2,053,509 shares changing hands.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Erste Group Bank upgraded shares of AstraZeneca from a “hold” rating to a “buy” rating in a report on Wednesday, September 11th. Deutsche Bank Aktiengesellschaft upgraded AstraZeneca from a “sell” rating to a “hold” rating in a research note on Wednesday. Finally, TD Cowen increased 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. Two 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. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $89.75.

View Our Latest Stock Report on AZN

AstraZeneca Trading Down 3.7 %

The firm has a 50-day simple moving average of $78.45 and a 200-day simple moving average of $78.75. The company has a quick ratio of 0.69, a current ratio of 0.89 and a debt-to-equity ratio of 0.69. The stock has a market cap of $197.97 billion, a PE ratio of 30.85, a P/E/G ratio of 1.32 and a beta of 0.47.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. McClarren Financial Advisors Inc. increased its holdings in shares of AstraZeneca by 320.8% in the third quarter. McClarren Financial Advisors Inc. now owns 324 shares of the company’s stock worth $25,000 after purchasing an additional 247 shares during the period. GHP Investment Advisors Inc. bought a new position in AstraZeneca in the 2nd quarter worth about $26,000. Capital Performance Advisors LLP bought a new position in AstraZeneca in the 3rd quarter worth about $28,000. Pathway Financial Advisers LLC purchased a new stake in shares of AstraZeneca in the 1st quarter valued at about $29,000. Finally, RFP Financial Group LLC boosted its position in shares of AstraZeneca by 56.3% during the 1st quarter. RFP Financial Group LLC now owns 494 shares of the company’s stock valued at $33,000 after acquiring an additional 178 shares during the last quarter. Institutional investors own 20.35% of the company’s stock.

AstraZeneca Company Profile

(Get Free Report)

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.

Further Reading

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