AstraZeneca (LON:AZN) Trading Down 9% – Time to Sell?

AstraZeneca PLC (LON:AZN) was down 9% during mid-day trading on Monday . The stock traded as low as £114.14 and last traded at £115. Approximately 11,511,431 shares changed hands during trading, a decline of 61% from the average session volume of 29,523,875 shares. The stock had previously closed at £126.32.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft reissued a “sector perform” rating and issued a £115 price objective on shares of AstraZeneca in a research report on Tuesday. Jefferies Financial Group reiterated a “buy” rating and issued a £175 target price on shares of AstraZeneca in a research note on Monday. Berenberg Bank reiterated a “buy” rating and set a £160 price target on shares of AstraZeneca in a report on Tuesday, July 28th. Finally, Citigroup boosted their price target on AstraZeneca from £175 to £178 and gave the stock a “buy” rating in a research report on Tuesday, July 28th. Five investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, AstraZeneca currently has an average rating of “Moderate Buy” and an average target price of £152.17.

AstraZeneca Stock Up 3.4%

The firm has a market cap of £188.28 billion, a P/E ratio of 18.17, a P/E/G ratio of 0.86 and a beta of 0.23. The firm’s fifty day moving average is £133.11 and its 200 day moving average is £139.88. The company has a debt-to-equity ratio of 64.10, a quick ratio of 0.59 and a current ratio of 0.89.

About AstraZeneca

AstraZeneca (LSE/STO/Nasdaq: AZN) is a global, science-led biopharmaceutical company that focuses on the discovery, development and commercialisation of prescription medicines, primarily for the treatment of diseases in three therapy areas – Oncology, Cardiovascular, Renal & Metabolism, and Respiratory & Immunology.
Based in Cambridge, UK, AstraZeneca operates in over 100 countries and its innovative medicines are used by millions of patients worldwide. Please visit astrazeneca.com and follow the Company on Twitter @AstraZeneca.