Saturday, June 25, 2022

Investing in AstraZeneca PLC (AZN) Is Getting More Attractive

UBS downgraded its AstraZeneca PLC [AZN] rating to a Neutral from a a Buy in a research note published on Tuesday. A number of analysts have revised their coverage, including DZ Bank’s analysts, who increased its forecast for the stock in mid February from “a Sell” to “a Hold”. Jefferies also remained covering AZN and has decreased its forecast on December 07, 2021 with a “Hold” recommendation from previously “Buy” rating.


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Price Performance Review of AZN

On Tuesday, AstraZeneca PLC [NASDAQ:AZN] saw its stock jump 2.85% to $62.83. On the same session, the stock had its day’s lowest price of $62.07, but rose to a high of $63.025. Over the last five days, the stock has gained 4.70%. AstraZeneca PLC shares have risen nearly 7.86% since the year began. Nevertheless, the stocks have risen 7.75% over the past one year. While a 52-week high of $71.70 was reached on 04/08/22, a 52-week low of $53.63 was recorded on 01/24/22. SMA at 50 days reached $65.33, while 200 days put it at $60.95. A total of 5.57 million shares were traded, compared to the trading of 10.93 million shares in the previous session.

Levels Of Support And Resistance For AZN Stock

The 24-hour chart illustrates a support level at 62.26, which if violated will result in even more drops to 61.69. On the upside, there is a resistance level at 63.21. A further resistance level may holdings at 63.60. The Relative Strength Index (RSI) on the 14-day chart is 47.29, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -1.39, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 48.42%. Stochastics %K at 38.04% indicates the stock is a holding.

How much short interest is there in AstraZeneca PLC?

A steep rise in short interest was recorded in AstraZeneca PLC stocks on Apr 28, 2022, growing by 3.99 million shares to a total of 11.75 million shares. Yahoo Finance data shows the prior-month short interest on Mar 30, 2022 was 7.76 million shares. There was a rise of 33.96%, which implies that there is a positive sentiment for the stock.

AstraZeneca PLC [AZN] – Who Are The Largest Shareholders?

In filings from T. Rowe Price Associates, Inc., it is revealed that the company now owns 94,229,869 shares, or roughly 3.04% of the outstanding AZN shares. In other words, the investor’s shares have risen by 4,389,118 from its previous 13-F filing of 89840751.0. Additionally, Wellington Management Co. LLP decreased -0.88% of its stake after which the total value it holdings stand at $3,104,020,007, while PRIMECAP Management Co. reduced -0.80% of its stake to hold $3.08 billion in the firm. Over the last quarter, Capital Research & Management Co purchased 1,604,875 shares of AstraZeneca PLC, while Fisher Asset Management LLC bought 732,959 shares. At present, GQG Partners LLC is holding 18,280,681 shares valued at $1.22 billion. Franklin Advisers, Inc. owned 13,210,362 shares of the company at the time of its most recent 13F filing, worth $878.22 million.

According to FactSet, AstraZeneca PLC’s share price will average $73.28 in the next year, based on opinions of analysts polled by the firm. This is up nearly 20.94 percent from its previous closing price of $61.09. Analysts expect AstraZeneca PLC stock to reach the higher price of $93.54, while the lowest price estimate is $59.48. However, 28 analysts have rated AZN stock as a Buy in their predictions for 2022.

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