Barclays Initiates Coverage on Jazz Pharmaceuticals (NASDAQ:JAZZ)

Barclays initiated coverage on shares of Jazz Pharmaceuticals (NASDAQ:JAZZ) in a report released on Friday. The firm set an “overweight” rating and a $224.00 price target on the specialty pharmaceutical company’s stock. Barclays‘s price target would suggest a potential upside of 18.54% from the company’s previous close.

JAZZ has been the topic of several other reports. UBS Group restated a “neutral” rating and set a $188.00 target price (up from $163.00) on shares of Jazz Pharmaceuticals in a research report on Monday, November 24th. TD Cowen reissued a “buy” rating on shares of Jazz Pharmaceuticals in a research note on Thursday, January 29th. Wall Street Zen upgraded Jazz Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research report on Saturday, November 8th. Piper Sandler reiterated an “overweight” rating and issued a $219.00 target price (up from $147.00) on shares of Jazz Pharmaceuticals in a report on Wednesday, December 10th. Finally, Robert W. Baird boosted their target price on Jazz Pharmaceuticals from $160.00 to $209.00 and gave the company an “outperform” rating in a research report on Tuesday, November 18th. Fourteen investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $214.57.

Jazz Pharmaceuticals Stock Down 4.0%

Shares of JAZZ opened at $188.97 on Friday. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.86 and a quick ratio of 1.44. The stock has a market capitalization of $11.63 billion, a price-to-earnings ratio of -31.65, a price-to-earnings-growth ratio of 1.06 and a beta of 0.26. Jazz Pharmaceuticals has a 1 year low of $95.49 and a 1 year high of $198.00. The business’s 50 day simple moving average is $169.18 and its 200-day simple moving average is $150.86.

Jazz Pharmaceuticals (NASDAQ:JAZZ) last announced its quarterly earnings results on Tuesday, February 24th. The specialty pharmaceutical company reported $6.64 earnings per share for the quarter, topping the consensus estimate of $6.49 by $0.15. The company had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.17 billion. Jazz Pharmaceuticals had a negative net margin of 8.35% and a positive return on equity of 6.87%. Jazz Pharmaceuticals’s quarterly revenue was up 8.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $6.51 earnings per share. As a group, equities analysts expect that Jazz Pharmaceuticals will post 16.96 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, SVP Mary Elizabeth Henderson sold 2,238 shares of the business’s stock in a transaction on Tuesday, December 9th. The shares were sold at an average price of $169.51, for a total transaction of $379,363.38. Following the completion of the sale, the senior vice president directly owned 19,508 shares of the company’s stock, valued at approximately $3,306,801.08. The trade was a 10.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Patricia Carr sold 4,660 shares of the firm’s stock in a transaction dated Friday, December 5th. The stock was sold at an average price of $171.20, for a total transaction of $797,792.00. Following the completion of the transaction, the chief accounting officer directly owned 7,012 shares in the company, valued at $1,200,454.40. This represents a 39.92% decrease in their position. The SEC filing for this sale provides additional information. 4.30% of the stock is owned by insiders.

Hedge Funds Weigh In On Jazz Pharmaceuticals

A number of institutional investors have recently modified their holdings of JAZZ. Hilltop National Bank purchased a new stake in shares of Jazz Pharmaceuticals in the fourth quarter valued at approximately $36,000. LRI Investments LLC purchased a new stake in shares of Jazz Pharmaceuticals in the 4th quarter worth $38,000. Farther Finance Advisors LLC lifted its holdings in shares of Jazz Pharmaceuticals by 754.8% in the 3rd quarter. Farther Finance Advisors LLC now owns 265 shares of the specialty pharmaceutical company’s stock worth $35,000 after buying an additional 234 shares during the period. Leonteq Securities AG bought a new position in shares of Jazz Pharmaceuticals during the 4th quarter worth $50,000. Finally, GoalVest Advisory LLC purchased a new position in shares of Jazz Pharmaceuticals during the fourth quarter valued at $51,000. 89.14% of the stock is owned by hedge funds and other institutional investors.

Jazz Pharmaceuticals Company Profile

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.