Short Interest in AstraZeneca PLC (NASDAQ:AZN) Increases By 26.1%

AstraZeneca PLC (NASDAQ:AZN) was the target of a significant growth in short interest in the month of December. As of December 31st, there was short interest totalling 12,690,000 shares, a growth of 26.1% from the December 15th total of 10,060,000 shares. Based on an average daily volume of 5,590,000 shares, the short-interest ratio is currently 2.3 days.

Analysts Set New Price Targets

Several research firms recently issued reports on AZN. UBS Group raised shares of AstraZeneca from a “sell” rating to a “neutral” rating in a report on Wednesday, November 20th. Deutsche Bank Aktiengesellschaft raised shares of AstraZeneca from a “sell” rating to a “hold” rating in a research note on Wednesday, November 6th. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $89.75.

AstraZeneca Price Performance

AZN stock traded down $0.31 during midday trading on Friday, hitting $66.60. The company’s stock had a trading volume of 5,419,360 shares, compared to its average volume of 4,140,949. The company has a quick ratio of 0.71, a current ratio of 0.93 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 company has a 50 day moving average of $66.11 and a two-hundred day moving average of $74.49. The firm has a market capitalization of $206.50 billion, a price-to-earnings ratio of 31.87, a price-to-earnings-growth ratio of 1.05 and a beta of 0.46.

AstraZeneca (NASDAQ:AZN) last issued its earnings results on Tuesday, November 12th. The company reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $1.01 by $0.03. AstraZeneca had a net margin of 12.68% and a return on equity of 30.01%. The firm had revenue of $13.57 billion during the quarter, compared to analyst estimates of $13.08 billion. During the same quarter in the prior year, the business earned $0.87 earnings per share. AstraZeneca’s revenue for the quarter was up 18.0% on a year-over-year basis. On average, analysts expect that AstraZeneca will post 4.11 EPS for the current year.

Hedge Funds Weigh In On AstraZeneca

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. New Century Financial Group LLC lifted its position in AstraZeneca by 22.3% during the fourth quarter. New Century Financial Group LLC now owns 11,494 shares of the company’s stock valued at $761,000 after purchasing an additional 2,094 shares during the last quarter. D.B. Root & Company LLC raised its position in shares of AstraZeneca by 18.1% during the 4th quarter. D.B. Root & Company LLC now owns 10,535 shares of the company’s stock valued at $690,000 after buying an additional 1,616 shares in the last quarter. True North Advisors LLC bought a new position in shares of AstraZeneca in the 4th quarter valued at about $298,000. Wesbanco Bank Inc. grew its position in AstraZeneca by 33.5% in the fourth quarter. Wesbanco Bank Inc. now owns 105,122 shares of the company’s stock worth $6,888,000 after acquiring an additional 26,391 shares in the last quarter. Finally, SG Americas Securities LLC increased its stake in AstraZeneca by 1,170.2% during the fourth quarter. SG Americas Securities LLC now owns 213,587 shares of the company’s stock worth $13,994,000 after acquiring an additional 196,772 shares during the last quarter. 20.35% of the stock is owned by 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.