Jazz Pharmaceuticals (NASDAQ:JAZZ) Stock Price Expected to Rise, Needham & Company LLC Analyst Says

Jazz Pharmaceuticals (NASDAQ:JAZZ) had its target price upped by research analysts at Needham & Company LLC from $282.00 to $292.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the specialty pharmaceutical company’s stock. Needham & Company LLC’s price target suggests a potential upside of 16.07% from the stock’s current price.

JAZZ has been the subject of several other research reports. Leerink Partners upped their price target on Jazz Pharmaceuticals from $215.00 to $225.00 and gave the company an “outperform” rating in a report on Wednesday, April 22nd. Royal Bank Of Canada upped their target price on Jazz Pharmaceuticals from $195.00 to $258.00 and gave the company an “outperform” rating in a research note on Wednesday, May 6th. Bank of America lifted their price target on shares of Jazz Pharmaceuticals from $281.00 to $307.00 and gave the stock a “buy” rating in a research note on Wednesday, June 10th. Wells Fargo & Company boosted their price target on shares of Jazz Pharmaceuticals from $265.00 to $285.00 and gave the company an “overweight” rating in a report on Tuesday, July 14th. Finally, Truist Financial dropped their price objective on shares of Jazz Pharmaceuticals from $256.00 to $254.00 and set a “buy” rating for the company in a research note on Tuesday, July 7th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $262.22.

Jazz Pharmaceuticals Stock Down 0.5%

JAZZ stock opened at $251.58 on Tuesday. The company has a debt-to-equity ratio of 0.95, a current ratio of 2.04 and a quick ratio of 1.85. The company has a 50-day moving average of $239.50 and a two-hundred day moving average of $207.30. The stock has a market capitalization of $15.80 billion, a price-to-earnings ratio of -12,572.71, a price-to-earnings-growth ratio of 0.22 and a beta of 0.32. Jazz Pharmaceuticals has a 52-week low of $105.00 and a 52-week high of $261.30.

Jazz Pharmaceuticals (NASDAQ:JAZZ) last released its earnings results on Monday, August 3rd. The specialty pharmaceutical company reported $5.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $6.18 by ($0.47). The business had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.11 billion. Jazz Pharmaceuticals had a net margin of 0.66% and a return on equity of 14.56%. The business’s quarterly revenue was up 15.5% compared to the same quarter last year. During the same period last year, the business earned ($8.25) EPS. As a group, equities research analysts anticipate that Jazz Pharmaceuticals will post 21.9 EPS for the current year.

Insider Buying and Selling at Jazz Pharmaceuticals

In other Jazz Pharmaceuticals news, Director Rick E. Winningham sold 2,741 shares of the stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $241.57, for a total transaction of $662,143.37. Following the completion of the transaction, the director directly owned 9,567 shares in the company, valued at $2,311,100.19. This represents a 22.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Neena M. Patil sold 1,200 shares of the business’s stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $231.83, for a total transaction of $278,196.00. Following the completion of the sale, the executive vice president owned 51,549 shares in the company, valued at $11,950,604.67. This represents a 2.27% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 13,098 shares of company stock worth $3,131,906 over the last three months. 4.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Jazz Pharmaceuticals

Institutional investors have recently added to or reduced their stakes in the company. LRI Investments LLC acquired a new stake in shares of Jazz Pharmaceuticals during the fourth quarter worth approximately $38,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Jazz Pharmaceuticals in the 2nd quarter worth approximately $61,000. Westpac Banking Corp bought a new stake in Jazz Pharmaceuticals during the 1st quarter worth approximately $51,000. Leonteq Securities AG bought a new stake in Jazz Pharmaceuticals during the 4th quarter worth approximately $50,000. Finally, Harbor Investment Advisory LLC grew its position in Jazz Pharmaceuticals by 349.2% during the 2nd quarter. Harbor Investment Advisory LLC now owns 292 shares of the specialty pharmaceutical company’s stock worth $70,000 after acquiring an additional 227 shares during the last quarter. 89.14% of the stock is owned by institutional investors.

About Jazz Pharmaceuticals

Jazz Pharmaceuticals plc is a global biopharmaceutical company focused on developing and commercializing therapies in neuroscience and oncology. The company’s research and development efforts target unmet medical needs in sleep disorders, hematologic malignancies, rare neurological conditions and solid tumors. Jazz’s product portfolio includes therapies for narcolepsy, hepatic veno-occlusive disease, acute myeloid leukemia and other serious disorders.

Flagship products from Jazz Pharmaceuticals include Xyrem® (sodium oxybate) and Xywav® (calcium, magnesium, potassium, and sodium oxybates) for the treatment of cataplexy and excessive daytime sleepiness in patients with narcolepsy.