AstraZeneca PLC [AZN] Upgraded to Add at AlphaValue

AlphaValue took its AstraZeneca PLC [NASDAQ:AZN]‎‎ rating to the equivalent of Add from Reduce,‎ in a ‎research note dated December 30, 2020. Other analysts also revised their coverage, with Morgan ‎Stanley’s analysts upgrading the shares from ‎‎”an Equal-weight” rating to “an Overweight” rating in a ‎research note to investors issued in early ‎December. Meanwhile, UBS had raised its rating on AZN to ‎‎”Neutral” from the earlier “Sell”, in a ‎research note produced for clients November 30, 2020. In ‎addition, there was an upgrade from HSBC ‎Securities on November 11, 2020. The rater changed AZN ‎from “a Reduce” to “a Hold”.

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Is AstraZeneca PLC [NASDAQ:AZN] a Good Buy Right Now?

It should be noted that ‎AZN ‎technical indicators for short, intermediate as well as long term progress have placed an ‎overall ‎average of 72% as Sell. The average signal changed from 56% Sell in the last week and compares ‎with ‎‎16% Sell in the past month. Data from AstraZeneca PLC’s Trend Spotter indicated that the signals ‎were ‎Weakest. The stock current average is 13.81 million shares in the past 20 days and the short ‎term ‎average signal indicates a 100% Sell. In the last 50 days, the average trading volume was 9.26 ‎million ‎shares while the medium term average advocated for 50% Sell. The average long-term signal ‎stands at ‎‎50% Sell and the 100-day average volume stands at 6.69 million shares.‎‎

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AZN Price Performance

On Wall Street, AstraZeneca PLC [NASDAQ:AZN] finished ‎Tuesday’s ‎session up 1.05% at $49.90. The stock went up to $50.7001 at the same session while its ‎lowest single ‎day price was $49.785. In the last five days, it saw a rise of about 0.44%, AstraZeneca PLC ‎shares gained ‎by almost 0.08% since the beginning of the year. However, the share price has dropped ‎to as low as -‎‎23.16% below its one year high. On 07/20/20, the company shares recorded $64.94, the ‎highest single-‎day price it has got to in the last 52-weeks and a 52-week low was seen on 03/16/20, the ‎same year at ‎‎$36.15. The company’s shares have declined by -0.22% in the past year. The 50-day SMA ‎achieved is ‎‎$52.83 while the 200-day SMA is $52.78. Volume gained to 17.31 million from 15.48 million in ‎the ‎previous session.‎‎

AstraZeneca PLC [AZN] Valuation Measures

Notably, AstraZeneca PLC [AZN] stock ‎cannot ‎be classified as a good candidate in the listing of underestimated low-priced Drug ‎Manufacturers – ‎General companies to purchase soonest possible with the prevailing 12-month PE ‎ratio of 52.47. The ‎measure means the stock is exchanging at a premium as compared to the 24.38x ‎trailing earnings of ‎the industry. It can be helpful for investors to consider historical price-sales ratio, ‎more specifically, a ‎‎5.03 PS value ratio is reported for the last one year of reported earnings. That is ‎higher than the ‎industry average of 2.83 which means AZN serve an unattractive investment ‎opportunity compared to ‎its competitors.‎‎

AZN Stock Support And Resistance Levels

On the 24-hour scale, the immediate backing ‎is ‎perceived around 49.56 level, and in case of violation of this particular level, it will cause more drop ‎to ‎‎49.21 level. On the upper level, 51.04 is still the key resistance. The stock may increase to ‎the ‎subsequent resistance at 50.47. The Relative Strength Index (RSI) pinned on the 14-day chart is ‎‎40.62, ‎implying a neutral technical stance while the MACD stands at -1.45, meaning price will decrease ‎in the ‎next trading period. Percent R indicator moved to 74.73%, implying bearish price ‎movement. ‎Stochastic %K at 15.97% suggest selling the stock.‎‎

What is the short interest in AstraZeneca PLC?

Short interest in the AstraZeneca PLC ‎stock ‎has surged, increasing by 2.83 million shares to total 3.46 million shares on Dec 14, 2020. The ‎interest ‎had seen shares on Nov 12, 2020 stand at 6.29 million, data from Yahoo Finance shows. The ‎decrease ‎of -81.79% suggests the stock saw some decreased bullish sentiment. ‎‎

AstraZeneca PLC’s Biggest Shareholders: Who Owns AstraZeneca PLC [AZN]?

Filings ‎by ‎Wellington Management Co. LLP showed that the firm now holds a total of 52,093,683 shares ‎or ‎roughly 1.99% of the outstanding AZN shares. This means their shares have reduced by -‎‎2,450,834 ‎from the 52,093,683 the investor reportedly held in its prior 13-F filing. With the conclusion of ‎the sale, ‎PRIMECAP Management Co. updated stake is worth $2,726,307,349. Details in the latest 13F ‎filings ‎reveal that Fidelity Management & Research Co disposed off their -7.19% stake valued ‎at ‎‎$2,273,213,212 while Jennison Associates LLC cut theirs at $1,643,017,147. During the last ‎quarter, ‎Fidelity Management & Research Co liquidated -3,328,789 of its shares in AstraZeneca PLC ‎while ‎Jennison Associates LLC sold -8,098,278 shares. The Capital Research & Management Co’s ‎holdings ‎currently number 29,249,466 shares at $1459548353.4. According to the firm’s last 13F report, ‎Fisher ‎Asset Management LLC shares in the company at filing stood at 17,342,680 shares, ‎roughly ‎‎$918,121,479.‎‎

AZN Earnings Forecast For The Current Quarter

AstraZeneca PLC [AZN] is expected to ‎report ‎strong earnings results for the quarter ending on Dec 2020. Consensus estimates give the ‎company ‎expected revenues of $7.01B and an earnings per share of $0.64 for Dec 2020. Looking ‎further ahead, ‎the company is expected to report revenue of $6.82B at an EPS of $0 for Mar 2021. The ‎estimates ‎represent upside of 15.20% and 20.12% in the company’s revenue and earnings per ‎share, ‎respectively, on a year-on-year basis.‎‎

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AZN Earnings Estimates For The ‎Current ‎Year

For the financial year, AstraZeneca PLC [NASDAQ:AZN] is expected to bring in ‎revenue of ‎‎$26.24B. The returns are nearly $1.86 billion higher than the company’s actual revenue ‎recorded in the ‎fiscal year 2019. In terms of EPS for the 2020, estimate put it at 2.47, higher than that of ‎FY19 by $0.72. ‎Estimates put this year’s earnings growth at 41.10%, 20.20% for the next, and at an ‎annual 19.20% over ‎the next 5-year period. As for sales, forecasts are for an increase of 7.60% in the ‎current fiscal year and ‎a further 15.20% over the following year.‎

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