Leerink Partnrs Cuts Earnings Estimates for AstraZeneca

AstraZeneca PLC (NASDAQ:AZN) – Equities researchers at Leerink Partnrs dropped their Q4 2024 earnings per share (EPS) estimates for AstraZeneca in a research report issued to clients and investors on Monday, October 28th. Leerink Partnrs analyst A. Berens now anticipates that the company will post earnings of $1.05 per share for the quarter, down from their prior forecast of $1.06. The consensus estimate for AstraZeneca’s current full-year earnings is $4.07 per share. Leerink Partnrs also issued estimates for AstraZeneca’s FY2026 earnings at $5.99 EPS.

A number of other analysts also recently commented on the company. Deutsche Bank Aktiengesellschaft downgraded AstraZeneca from a “hold” rating to a “sell” rating in a report on Friday, September 13th. Erste Group Bank upgraded AstraZeneca from a “hold” rating to a “buy” rating in a research note on Wednesday, September 11th. Finally, TD Cowen raised their price objective on AstraZeneca from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Monday, August 12th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, AstraZeneca presently has an average rating of “Moderate Buy” and a consensus price target of $89.75.

AstraZeneca Stock Performance

NASDAQ:AZN opened at $76.01 on Tuesday. The company has a market cap of $235.68 billion, a P/E ratio of 36.72, a P/E/G ratio of 1.39 and a beta of 0.46. The firm’s 50 day moving average is $80.23 and its two-hundred day moving average is $78.63. AstraZeneca has a fifty-two week low of $60.47 and a fifty-two week high of $87.68. The company has a quick ratio of 0.69, a current ratio of 0.89 and a debt-to-equity ratio of 0.69.

Institutional Investors Weigh In On AstraZeneca

Several institutional investors and hedge funds have recently modified their holdings of AZN. Price T Rowe Associates Inc. MD boosted its stake in AstraZeneca by 17.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 61,271,974 shares of the company’s stock valued at $4,151,177,000 after acquiring an additional 9,002,450 shares during the last quarter. Capital World Investors boosted its holdings in shares of AstraZeneca by 0.3% in the first quarter. Capital World Investors now owns 9,365,676 shares of the company’s stock valued at $634,525,000 after acquiring an additional 29,497 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in AstraZeneca by 16.7% during the 2nd quarter. Envestnet Asset Management Inc. now owns 3,417,933 shares of the company’s stock valued at $266,565,000 after purchasing an additional 488,644 shares in the last quarter. Clearbridge Investments LLC boosted its stake in AstraZeneca by 5.8% during the second quarter. Clearbridge Investments LLC now owns 3,403,748 shares of the company’s stock valued at $265,458,000 after buying an additional 186,010 shares in the last quarter. Finally, Fayez Sarofim & Co grew its stake in shares of AstraZeneca by 4.7% in the 1st quarter. Fayez Sarofim & Co now owns 2,990,234 shares of the company’s stock worth $202,588,000 after purchasing an additional 134,784 shares during the last quarter. Hedge funds and other institutional investors own 20.35% of the company’s stock.

About AstraZeneca

AstraZeneca PLC, a biopharmaceutical company, focuses on the discovery, development, manufacture, and commercialization of prescription medicines. The company’s marketed products include Tagrisso, Imfinzi, Lynparza, Calquence, Enhertu, Orpathys, Truqap, Zoladex, Faslodex, Farxiga, Brilinta, Lokelma, Roxadustat, Andexxa, Crestor, Seloken, Onglyza, Bydureon, Fasenra, Breztri, Symbicort, Saphnelo, Tezspire, Pulmicort, Bevespi, and Daliresp for cardiovascular, renal, metabolism, and oncology.