Jazz Pharmaceuticals (NASDAQ:JAZZ) Upgraded to “Strong-Buy” at The Goldman Sachs Group

The Goldman Sachs Group upgraded shares of Jazz Pharmaceuticals (NASDAQ:JAZZ) to a strong-buy rating in a research note issued to investors on Thursday,Zacks reports.

A number of other brokerages have also recently issued reports on JAZZ. JPMorgan Chase & Co. raised their price objective on Jazz Pharmaceuticals from $265.00 to $276.00 and gave the company an “overweight” rating in a research note on Tuesday, August 4th. Wells Fargo & Company upped their price objective on shares of Jazz Pharmaceuticals from $285.00 to $300.00 and gave the stock an “overweight” rating in a report on Tuesday, August 4th. Weiss Ratings raised Jazz Pharmaceuticals from a “hold (c-)” rating to a “buy (b-)” rating in a research report on Tuesday, August 4th. Piper Sandler boosted their price objective on shares of Jazz Pharmaceuticals from $301.00 to $310.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 4th. Finally, TD Cowen increased their price target on shares of Jazz Pharmaceuticals from $275.00 to $300.00 and gave the company a “buy” rating in a report on Tuesday, August 4th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Jazz Pharmaceuticals currently has a consensus rating of “Buy” and a consensus price target of $289.37.

Jazz Pharmaceuticals Price Performance

Shares of NASDAQ:JAZZ opened at $236.28 on Thursday. The company’s fifty day moving average price is $248.98 and its 200-day moving average price is $227.51. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.78 and a quick ratio of 1.58. The firm has a market capitalization of $15.34 billion, a price-to-earnings ratio of 16.30, a PEG ratio of 0.22 and a beta of 0.36. Jazz Pharmaceuticals has a one year low of $125.79 and a one year high of $266.38.

Jazz Pharmaceuticals (NASDAQ:JAZZ) last posted its quarterly earnings data 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). 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 for the quarter, compared to the consensus estimate of $1.11 billion. During the same period in the prior year, the firm posted ($8.25) earnings per share. The business’s revenue was up 15.5% on a year-over-year basis. On average, equities research analysts anticipate that Jazz Pharmaceuticals will post 21.5 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Bruce Cozadd sold 6,000 shares of the stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $252.98, for a total transaction of $1,517,880.00. Following the completion of the sale, the director owned 360,682 shares in the company, valued at approximately $91,245,332.36. This trade represents a 1.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Neena Patil sold 1,200 shares of the company’s stock in a transaction that occurred on Thursday, September 10th. The stock was sold at an average price of $240.94, for a total value of $289,128.00. Following the completion of the transaction, the executive vice president owned 47,671 shares of the company’s stock, valued at $11,485,850.74. The trade was a 2.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 98,121 shares of company stock worth $24,443,842. 4.10% of the stock is currently owned by insiders.

Institutional Trading of Jazz Pharmaceuticals

Hedge funds have recently modified their holdings of the company. Capital World Investors lifted its position in Jazz Pharmaceuticals by 4.4% during the fourth quarter. Capital World Investors now owns 2,666,602 shares of the specialty pharmaceutical company’s stock valued at $453,322,000 after purchasing an additional 111,735 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Jazz Pharmaceuticals by 44.5% in the 1st quarter. Bank of New York Mellon Corp now owns 1,679,371 shares of the specialty pharmaceutical company’s stock worth $317,485,000 after purchasing an additional 517,514 shares during the period. Franklin Resources Inc. boosted its holdings in shares of Jazz Pharmaceuticals by 164.0% in the 4th quarter. Franklin Resources Inc. now owns 1,818,911 shares of the specialty pharmaceutical company’s stock worth $309,215,000 after purchasing an additional 1,129,995 shares during the period. Bank of America Corp DE increased its position in shares of Jazz Pharmaceuticals by 10.9% during the 1st quarter. Bank of America Corp DE now owns 1,014,800 shares of the specialty pharmaceutical company’s stock valued at $191,848,000 after purchasing an additional 99,656 shares during the last quarter. Finally, Sofinnova Investments Inc. raised its holdings in Jazz Pharmaceuticals by 63.0% during the 4th quarter. Sofinnova Investments Inc. now owns 959,860 shares of the specialty pharmaceutical company’s stock valued at $163,176,000 after buying an additional 371,032 shares during the period. 89.14% of the stock is owned by hedge funds and other institutional investors.

Jazz Pharmaceuticals Company Profile

Jazz Pharmaceuticals plc (NASDAQ:JAZZ) is a global biopharmaceutical company focused on developing and commercializing medicines for disorders in neuroscience and oncology. The company concentrates on conditions with significant unmet medical needs, including sleep disorders, epilepsy, rare diseases and certain cancers.

Its neuroscience portfolio includes Xywav and Xyrem, oxybate-based treatments for narcolepsy, with Xywav also indicated for idiopathic hypersomnia in adults. Jazz also markets Epidiolex in the United States, known as Epidyolex in some international markets, a cannabidiol-based medicine for seizures associated with Lennox-Gastaut syndrome, Dravet syndrome and tuberous sclerosis complex.

In oncology, Jazz’s products include Rylaze, an asparaginase therapy used as part of treatment for acute lymphoblastic leukemia and lymphoblastic lymphoma; Zepzelca, used for certain patients with metastatic small cell lung cancer; and Vyxeos, a chemotherapy formulation for certain cases of newly diagnosed therapy-related acute myeloid leukemia or AML with myelodysplasia-related changes.