AstraZeneca plc (AZN) Price Target Cut to GBX 4,200 by Analysts at J P Morgan Chase & Co

AstraZeneca plc (LON:AZN) had its price target lowered by equities research analysts at J P Morgan Chase & Co from GBX 5,000 ($65.14) to GBX 4,200 ($54.72) in a report issued on Friday. The brokerage currently has a “neutral” rating on the biopharmaceutical company’s stock. J P Morgan Chase & Co’s price target suggests a potential downside of 2.89% from the stock’s current price.

A number of other equities analysts have also commented on AZN. UBS AG set a GBX 5,150 ($67.09) price objective on AstraZeneca plc and gave the stock a “neutral” rating in a research note on Wednesday, April 5th. Kepler Capital Markets set a GBX 5,200 ($67.74) price objective on AstraZeneca plc and gave the stock a “buy” rating in a research note on Friday. Citigroup Inc. reissued a “buy” rating and issued a GBX 6,000 ($78.17) price objective on shares of AstraZeneca plc in a research note on Friday. Berenberg Bank set a GBX 5,500 ($71.65) price objective on AstraZeneca plc and gave the stock a “buy” rating in a research note on Friday. Finally, Credit Suisse Group reduced their price objective on AstraZeneca plc from GBX 5,000 ($65.14) to GBX 4,700 ($61.23) and set a “neutral” rating on the stock in a research note on Friday. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and nine have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of GBX 5,189.30 ($67.60).

Shares of AstraZeneca plc (LON AZN) traded up 2.90% on Friday, hitting GBX 4450.50. The stock had a trading volume of 2,003,615 shares. AstraZeneca plc has a 52 week low of GBX 3,996.00 and a 52 week high of GBX 5,520.00. The company’s market cap is GBX 56.34 billion. The firm has a 50 day moving average price of GBX 5,187.89 and a 200-day moving average price of GBX 4,861.95.

About AstraZeneca plc

AstraZeneca PLC (AstraZeneca) is a biopharmaceutical company. The Company focuses on discovery and development of products, which are then manufactured, marketed and sold. The Company focuses on three main therapy areas: Oncology, Cardiovascular & Metabolic Disease (CVMD) and Respiratory, while selectively pursuing therapies in Autoimmunity, Infection and Neuroscience.