AstraZeneca PLC (AZN) Forms Bullish Double Top; Strong Momentum for Buyers Coming

May 24, 2018 - By Rodney Autry

AstraZeneca PLC (NYSE:AZN) Logo

The chart of AstraZeneca PLC (AZN) shows a double top with $39.05 target or 6.00 % above today’s $36.84 share price. The 8 months chart pattern indicates low risk for the $91.74 billion company. It was reported on May, 24 by Finviz.com. If the $39.05 price target is reached, the company will be worth $5.50 billion more. Double tops are rare but powerful chart patterns.

The stock decreased 0.57% or $0.21 during the last trading session, reaching $36.84. About 4.92 million shares traded or 20.90% up from the average. AstraZeneca PLC (NYSE:AZN) has risen 9.03% since May 24, 2017 and is uptrending. It has underperformed by 2.52% the S&P500.

AstraZeneca PLC (NYSE:AZN) Ratings Coverage

Among 5 analysts covering AstraZeneca (NYSE:AZN), 4 have Buy rating, 0 Sell and 1 Hold. Therefore 80% are positive. AstraZeneca has $42.0 highest and $36.0 lowest target. $40’s average target is 8.58% above currents $36.84 stock price. AstraZeneca had 6 analyst reports since December 29, 2017 according to SRatingsIntel. The company was upgraded on Friday, December 29 by JP Morgan. Leerink Swann maintained it with “Hold” rating and $36.0 target in Thursday, January 18 report. Leerink Swann maintained AstraZeneca PLC (NYSE:AZN) rating on Tuesday, February 6. Leerink Swann has “Market Perform” rating and $38 target. Bernstein maintained AstraZeneca PLC (NYSE:AZN) on Monday, February 5 with “Buy” rating. J.P. Morgan upgraded the stock to “Buy” rating in Friday, December 29 report. The firm has “Buy” rating given on Monday, March 19 by Jefferies.

More news for AstraZeneca PLC (NYSE:AZN) were recently published by: Bizjournals.com, which released: “Why Big Pharma is finally discovering the Bay Area” on May 23, 2018. Seekingalpha.com‘s article titled: “FDA’s OKs AstraZeneca’s Lokelma for hyperkalemia” and published on May 21, 2018 is yet another important article.

AstraZeneca PLC discovers, develops, makes, and commercializes prescription medicines for the treatment of oncology, cardiovascular and metabolic, respiratory, infection, gastrointestinal, and neuroscience diseases worldwide. The company has market cap of $91.74 billion. The Company’s marketed products comprise Arimidex, Casodex/Cosudex, Faslodex, Iressa, Lynparza, Nolvadex, Tagrisso, and Zoladex for oncology diseases; Atacand1/Atacand HCT/Atacand Plus, Brilinta/Brilique, Crestor, Imdur, Plendil, Seloken/Toprol-XL, Tenormin, and Zestril for cardiovascular diseases; and Bydureon, Byetta, Farxiga/Forxiga, Kombiglyze XR, Komboglyze, Onglyza, Symlin, Xigduo, and Xigduo XR for metabolic diseases. It has a 31.09 P/E ratio. The companyÂ’s marketed products also comprise Accolate, Bevespi Aerosphere, Bricanyl Respules, Bricanyl Turbuhaler, Daliresp/Daxas, Duaklir Genuair, Eklira Genuair/Tudorza Pressair, Oxis Turbuhaler, Pulmicort Turbuhaler/Pulmicort Flexhaler, Pulmicort Respules, Symbicort pMDI, and Symbicort Turbuhaler for respiratory diseases; Fluenz Tetra/FluMist Quadrivalent and Synagis for infection diseases; Movantik/Moventig, Seroquel IR, Seroquel XR, Vimovo1, and Zomig for neuroscience diseases; and Losec/Prilosec and Nexium for gastrointestinal diseases.

AstraZeneca PLC (NYSE:AZN) Ratings Chart

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