Short Interest in AstraZeneca PLC (NASDAQ:AZN) Increases By 31.5%

AstraZeneca PLC (NASDAQ:AZN) was the recipient of a large increase in short interest during the month of December. As of December 31st, there was short interest totaling 10,940,007 shares, an increase of 31.5% from the December 15th total of 8,318,927 shares. Currently, 0.4% of the shares of the company are short sold. Based on an average daily volume of 3,845,817 shares, the days-to-cover ratio is presently 2.8 days. Based on an average daily volume of 3,845,817 shares, the days-to-cover ratio is presently 2.8 days. Currently, 0.4% of the shares of the company are short sold.

AstraZeneca Trading Up 0.4%

Shares of AstraZeneca stock opened at $94.39 on Monday. The company has a quick ratio of 0.69, a current ratio of 0.88 and a debt-to-equity ratio of 0.54. The firm has a market cap of $292.78 billion, a price-to-earnings ratio of 31.36, a price-to-earnings-growth ratio of 1.56 and a beta of 0.34. The business has a fifty day simple moving average of $91.52 and a 200-day simple moving average of $82.91. AstraZeneca has a fifty-two week low of $61.24 and a fifty-two week high of $96.51.

AstraZeneca (NASDAQ:AZN) last released its earnings results on Thursday, November 6th. The company reported $1.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.14 by $0.05. AstraZeneca had a return on equity of 32.89% and a net margin of 16.17%.The firm had revenue of $15.19 billion for the quarter, compared to analyst estimates of $14.75 billion. During the same period in the previous year, the company earned $2.08 earnings per share. AstraZeneca’s revenue was up 12.0% compared to the same quarter last year. On average, equities analysts forecast that AstraZeneca will post 4.51 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have commented on AZN. Guggenheim restated a “buy” rating on shares of AstraZeneca in a research note on Wednesday, December 3rd. Morgan Stanley restated an “overweight” rating and issued a $103.00 target price on shares of AstraZeneca in a research report on Wednesday, December 3rd. HSBC reissued a “buy” rating and issued a $108.00 price target on shares of AstraZeneca in a research note on Wednesday, December 10th. Jefferies Financial Group started coverage on shares of AstraZeneca in a research note on Monday, October 27th. They set a “buy” rating on the stock. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of AstraZeneca in a report on Wednesday, October 8th. Nine equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $95.75.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of AZN. Brighton Jones LLC boosted its stake in shares of AstraZeneca by 93.2% during the 4th quarter. Brighton Jones LLC now owns 5,782 shares of the company’s stock worth $379,000 after acquiring an additional 2,789 shares in the last quarter. AQR Capital Management LLC lifted its holdings in shares of AstraZeneca by 45.3% during the first quarter. AQR Capital Management LLC now owns 37,501 shares of the company’s stock valued at $2,756,000 after purchasing an additional 11,690 shares during the last quarter. Sovran Advisors LLC acquired a new position in shares of AstraZeneca in the 2nd quarter valued at $210,000. Wealth Enhancement Advisory Services LLC increased its stake in AstraZeneca by 4.0% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 324,027 shares of the company’s stock worth $22,504,000 after purchasing an additional 12,427 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in AstraZeneca by 50.7% during the 2nd quarter. Assenagon Asset Management S.A. now owns 1,167,516 shares of the company’s stock worth $81,586,000 after buying an additional 392,843 shares during the period. Institutional investors own 20.35% of the company’s stock.

About AstraZeneca

AstraZeneca is a global, science-led biopharmaceutical company headquartered in Cambridge, England. Formed through the 1999 merger of Sweden’s Astra AB and the UK’s Zeneca Group, the company researches, develops, manufactures and commercializes prescription medicines across a range of therapeutic areas. AstraZeneca’s operations span research and development, large-scale manufacturing, and commercial distribution, with a presence in developed and emerging markets worldwide.

The company focuses on several core therapy areas including oncology, cardiovascular, renal and metabolism (CVRM), respiratory and immunology, and rare diseases.