Jazz Pharmaceuticals (NASDAQ:JAZZ) Price Target Raised to $232.00

Jazz Pharmaceuticals (NASDAQ:JAZZ) had its target price lifted by Piper Sandler from $219.00 to $232.00 in a research report report published on Thursday,Benzinga reports. The firm currently has an overweight rating on the specialty pharmaceutical company’s stock.

Several other equities analysts have also recently issued reports on JAZZ. UBS Group reiterated a “neutral” rating and set a $188.00 price target (up from $163.00) on shares of Jazz Pharmaceuticals in a research report on Monday, November 24th. Morgan Stanley upped their price objective on Jazz Pharmaceuticals from $225.00 to $226.00 and gave the company an “overweight” rating in a report on Wednesday, February 25th. Needham & Company LLC raised their target price on Jazz Pharmaceuticals from $210.00 to $235.00 and gave the company a “buy” rating in a research note on Monday, January 12th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Jazz Pharmaceuticals in a report on Monday, December 29th. Finally, Bank of America upped their price target on shares of Jazz Pharmaceuticals from $263.00 to $275.00 and gave the company a “buy” rating in a report on Wednesday, February 25th. Thirteen research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $215.38.

Jazz Pharmaceuticals Stock Down 0.6%

Jazz Pharmaceuticals stock opened at $180.62 on Thursday. Jazz Pharmaceuticals has a 52 week low of $95.49 and a 52 week high of $198.00. The stock has a market cap of $11.12 billion, a price-to-earnings ratio of -30.25, a PEG ratio of 0.33 and a beta of 0.22. The company’s 50-day moving average price is $173.81 and its two-hundred day moving average price is $158.09. The company has a current ratio of 1.86, a quick ratio of 1.67 and a debt-to-equity ratio of 1.00.

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

Insider Activity

In related news, CAO Patricia Carr sold 1,287 shares of the company’s stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $182.94, for a total value of $235,443.78. Following the completion of the sale, the chief accounting officer owned 6,512 shares in the company, valued at approximately $1,191,305.28. This represents a 16.50% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Mary Elizabeth Henderson sold 5,343 shares of the firm’s stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $194.49, for a total transaction of $1,039,160.07. Following the completion of the transaction, the senior vice president directly owned 28,728 shares of the company’s stock, valued at $5,587,308.72. This represents a 15.68% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 68,015 shares of company stock worth $13,037,486 over the last three months. 4.30% of the stock is owned by insiders.

Institutional Trading of Jazz Pharmaceuticals

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

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.