An interesting stock that came up in some of our conversations today is AstraZeneca PLC (NYSE:AZN). At current price of $41.54, the shares have already added 1.16 points (2.87% higher) from its previous close of $40.38. Should you buy or avoid them? The stock sets an active trading volume day with a reported 2787583 contracts so far this session. AZN shares had a relatively better volume day versus average trading capacity of 3.88 million shares, but with a 2.6 billion float and a 2.59% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for AZN stock indicates that the average analyst price target is $53.05 per share. This means the stock has a potential increase of 27.71% from where the AZN share price has been trading recently.
During the recent trading session for AstraZeneca PLC (NYSE:AZN), the company witnessed their stock rise $1.43 over a week and tumble down $-3.51 from the price 20 days ago. When compared to their established 52-week high of $51.55, the high they recorded in their recent session happens to be higher. Their established 52-week high was attained by the company on 01/17/20. The recent low of $36.15 stood for a -19.42% since 03/16/20, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 0.58 is also allocated to the stock. Since the beta is less than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.
Looking at the current readings for AstraZeneca PLC, the two-week RSI stands at 44.84. This figure suggests that AZN stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current AZN readings is similarly very revealing as it has a stochastic reading of 41.6% at this stage. This figure means that AZN share price today is being neutral.
Technical chart claims that AstraZeneca PLC (AZN) would settle between $41.27/share to $42.15/share level. However, if the stock price goes below the $39.44 mark, then the market for AstraZeneca PLC becomes much weaker. If that happens, the stock price might even plunge as low as $38.49 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 1.03. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at SVB Leerink, assumed coverage of AZN assigning Outperform rating, according to their opinion released on November 22. Liberum analysts bumped their rating on AstraZeneca PLC (NYSE:AZN) stock from Hold to Buy in a separate flash note issued to investors on October 25. Analysts at UBS lowered the stock to a Sell call from its previous Neutral recommendation, in a research note that dated back to April 02.
AZN equity has an average rating of 1.5, with the figure leaning towards a bullish end. 6 analysts who tracked the company were contacted by Reuters. Amongst them, 1 rated the stock as a hold while the remaining 5 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 5 analysts rated AstraZeneca PLC (NYSE:AZN) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, AZN stock price is currently trading at 16.26X forward 12-month Consensus EPS estimates, and its P/E ratio is 78.4 while for the average stock in the same group, the multiple is 18.2. AstraZeneca PLC current P/B ratio of 8.1 means it is trading at a premium against its industry’s 4.2.
AstraZeneca PLC (AZN)’s current-quarter revenues are projected to climb by nearly 6.9% to hit $5.87 billion, based on current consensus estimate. The firm’s full-year revenues are expected to expand by over 8.6% from $24.38 billion to a noteworthy $26.49 billion. At the other end of the current quarter income statement, AstraZeneca PLC is expected to see its adjusted earnings surge by roughly -4.4% to hit $0.43 per share. For the fiscal year, AZN’s earnings are projected to climb by roughly 14.3% to hit $2 per share.