Bank of America Securities Initiates a Buy Rating on AstraZeneca (AZN)

AstraZeneca received a Buy rating and a £170.00 price target from Bank of America Securities analyst Graham Parry today.

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According to TipRanks, Parry is a 2-star analyst with an average return of 0.5% and a 60.38% success rate. Parry covers the Healthcare sector, focusing on stocks such as AstraZeneca, GlaxoSmithKline, and Roche Holding AG.

In addition to Bank of America Securities, AstraZeneca also received a Buy from J.P. Morgan’s Richard Vosser in a report issued on January 15. However, on January 16, Deutsche Bank maintained a Sell rating on AstraZeneca (LSE: AZN).

Based on AstraZeneca’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of p15.19 billion and a net profit of p2.53 billion. In comparison, last year the company earned a revenue of p13.96 billion and had a net profit of p1.47 billion

Based on the recent corporate insider activity of 10 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of AZN in relation to earlier this year.