Jazz Pharmaceuticals (NASDAQ:JAZZ) Reaches New 52-Week High – What’s Next?

Jazz Pharmaceuticals PLC (NASDAQ:JAZZ)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $266.25 and last traded at $265.7180, with a volume of 416987 shares trading hands. The stock had previously closed at $254.47.

Wall Street Analysts Forecast Growth

JAZZ has been the topic of several recent research reports. Sanford C. Bernstein restated a “market perform” rating on shares of Jazz Pharmaceuticals in a research report on Tuesday, June 9th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $287.00 price target on shares of Jazz Pharmaceuticals in a report on Tuesday, August 4th. JPMorgan Chase & Co. raised their price target on shares of Jazz Pharmaceuticals from $265.00 to $276.00 and gave the stock an “overweight” rating in a report on Tuesday, August 4th. Wells Fargo & Company boosted their price objective on shares of Jazz Pharmaceuticals from $285.00 to $300.00 and gave the company an “overweight” rating in a research report on Tuesday, August 4th. Finally, Raymond James Financial reiterated an “outperform” rating and set a $239.00 target price on shares of Jazz Pharmaceuticals in a report on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, Jazz Pharmaceuticals has a consensus rating of “Buy” and an average price target of $272.89.

Jazz Pharmaceuticals Price Performance

The company has a current ratio of 1.78, a quick ratio of 1.58 and a debt-to-equity ratio of 0.69. The business’s 50 day moving average price is $245.26 and its two-hundred day moving average price is $216.25. The stock has a market cap of $17.19 billion, a P/E ratio of 18.24, a price-to-earnings-growth ratio of 0.23 and a beta of 0.32.

Jazz Pharmaceuticals (NASDAQ:JAZZ) last issued its quarterly earnings data on Monday, August 3rd. The specialty pharmaceutical company reported $5.71 EPS for the quarter, missing the consensus estimate of $6.18 by ($0.47). Jazz Pharmaceuticals had a return on equity of 33.97% and a net margin of 20.45%.The company had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.11 billion. During the same quarter last year, the business earned ($8.25) earnings per share. The business’s quarterly revenue was up 15.5% on a year-over-year basis. As a group, sell-side analysts expect that Jazz Pharmaceuticals PLC will post 21.66 earnings per share for the current fiscal year.

Insider Activity at Jazz Pharmaceuticals

In related news, Director Bruce C. Cozadd sold 6,000 shares of Jazz Pharmaceuticals stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $252.98, for a total transaction of $1,517,880.00. Following the completion of the transaction, the director directly owned 360,682 shares of the company’s stock, valued at $91,245,332.36. This trade represents a 1.64% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mark Douglas Smith sold 1,157 shares of the company’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $230.55, for a total transaction of $266,746.35. Following the completion of the sale, the director owned 9,680 shares in the company, valued at approximately $2,231,724. This trade represents a 10.68% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 14,357 shares of company stock worth $3,505,642 over the last ninety days. 4.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. USA Financial Formulas purchased a new stake in shares of Jazz Pharmaceuticals in the first quarter worth $25,000. LRI Investments LLC bought a new stake in Jazz Pharmaceuticals during the 4th quarter valued at about $38,000. Danske Bank A S purchased a new position in Jazz Pharmaceuticals in the third quarter worth about $40,000. Ameritas Advisory Services LLC bought a new position in shares of Jazz Pharmaceuticals in the second quarter worth approximately $47,000. Finally, Geneos Wealth Management Inc. increased its position in shares of Jazz Pharmaceuticals by 57.6% during the first quarter. Geneos Wealth Management Inc. now owns 375 shares of the specialty pharmaceutical company’s stock valued at $47,000 after acquiring an additional 137 shares in the last quarter. Institutional investors 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.