AstraZeneca
Drugmaker AstraZeneca PLC (NYSE: AZN) has seen a share price decline of about 3% over the past 12 months. For the year to date, the shares are up nearly 5%. Last month, AstraZeneca’s recently acquired Alexion itself acquired struggling biotech LogicBio Therapeutics for $2.07 a share (around $68 million). That was a 666% premium over LogicBio’s most recent closing price. The acquisition was expected to close by the middle of November, and it has lifted the share price by about 11% since it was announced in early October.
Analysts are mostly bullish on the stock, with 21 of 26 brokerages having a Buy or Strong Buy rating and four more rating the shares at Hold. At a recent price of around $61.10 a share, the upside potential based on a median price target of $138.97 is about 127%. At the high price target of $199.37, the upside potential is 226%.
For the company’s fiscal third quarter, analysts are forecasting revenue of $10.86 billion, which would be an increase of 0.8% sequentially and an increase of 10% year over year. Adjusted EPS are tabbed to come in at $1.52, down by about 11.7% sequentially but 40.7% higher year over year. For the full 2022 fiscal year, the current revenue estimate is $44.28 billion, up 18.4%, and the EPS estimate is $6.64, up about 25.5%.
AstraZeneca stock trades at 18.5 times expected 2022 EPS, 16.2 times estimated 2023 earnings of $7.54 and 13.7 times estimated 2024 earnings of $8.96 per share. The stock’s 52-week trading range is $52.65 to $71.70. AstraZeneca pays an annual dividend of $1.45 (yield of 2.42%). Total shareholder return for the past year was negative 0.8%.
Nio
China-based electric vehicle maker Nio Inc. (NYSE: NIO) has lost about 75% from its share price over the past 12 months. Shares posted a new 52-week low about two weeks ago, dropping nearly 39% in October alone. Investors were wary of the impact of closing two assembly plants due to China’s zero-covid policy. October production results turned out much better than many expected, and that put a charge under the stock, which trades something like a meme stock to begin with.
There are 28 analyst ratings on Nio’s stock, and 26 are Buy or Strong Buy. At a share price of around $11.00, the upside potential based on a median price target of $26.99 is around 145%. At the high target of $64.59, the upside potential is approaching 500%.
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