Jazz Pharmaceuticals plc (NASDAQ:JAZZ) Given Consensus Recommendation of “Buy” by Brokerages

Shares of Jazz Pharmaceuticals plc (NASDAQ:JAZZ) have earned a consensus recommendation of “Buy” from the sixteen brokerages that are currently covering the firm, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation and twelve have given a buy recommendation to the company. The average 1 year price target among brokers that have covered the stock in the last year is $204.31.

A number of equities research analysts have issued reports on the company. Jefferies Financial Group assumed coverage on Jazz Pharmaceuticals in a research note on Tuesday, July 6th. They set a “buy” rating and a $220.00 price target for the company. SVB Leerink restated a “buy” rating on shares of Jazz Pharmaceuticals in a research note on Thursday, July 22nd. HC Wainwright cut their price target on Jazz Pharmaceuticals from $220.00 to $210.00 and set a “buy” rating for the company in a research note on Monday, August 16th. Piper Sandler reaffirmed a “buy” rating and set a $214.00 price objective on shares of Jazz Pharmaceuticals in a research report on Monday, May 24th. Finally, Royal Bank of Canada lifted their price objective on Jazz Pharmaceuticals from $190.00 to $216.00 and gave the company an “outperform” rating in a research report on Friday, July 23rd.

In other news, CEO Bruce C. Cozadd sold 10,850 shares of the business’s stock in a transaction that occurred on Thursday, July 1st. The stock was sold at an average price of $180.67, for a total transaction of $1,960,269.50. Following the transaction, the chief executive officer now owns 308,888 shares of the company’s stock, valued at approximately $55,806,794.96. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Elmar Schnee sold 1,632 shares of the business’s stock in a transaction that occurred on Thursday, August 5th. The shares were sold at an average price of $154.00, for a total value of $251,328.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 14,452 shares of company stock worth $2,540,766. 4.30% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Polaris Capital Management LLC bought a new position in Jazz Pharmaceuticals in the 2nd quarter valued at $229,646,000. JPMorgan Chase & Co. grew its position in Jazz Pharmaceuticals by 50.4% in the 2nd quarter. JPMorgan Chase & Co. now owns 2,884,972 shares of the specialty pharmaceutical company’s stock valued at $512,487,000 after acquiring an additional 967,343 shares during the last quarter. Redmile Group LLC bought a new position in Jazz Pharmaceuticals in the 1st quarter valued at $136,289,000. Victory Capital Management Inc. grew its position in Jazz Pharmaceuticals by 714.9% in the 2nd quarter. Victory Capital Management Inc. now owns 731,707 shares of the specialty pharmaceutical company’s stock valued at $129,981,000 after acquiring an additional 641,921 shares during the last quarter. Finally, Franklin Resources Inc. grew its position in Jazz Pharmaceuticals by 1,916.8% in the 1st quarter. Franklin Resources Inc. now owns 504,855 shares of the specialty pharmaceutical company’s stock valued at $82,983,000 after acquiring an additional 479,823 shares during the last quarter. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

NASDAQ JAZZ opened at $128.64 on Tuesday. The stock has a 50-day moving average of $150.48 and a 200 day moving average of $164.75. The company has a market capitalization of $7.89 billion, a price-to-earnings ratio of 135.41, a PEG ratio of 0.76 and a beta of 0.97. Jazz Pharmaceuticals has a one year low of $127.83 and a one year high of $189.00. The company has a debt-to-equity ratio of 1.57, a quick ratio of 1.93 and a current ratio of 3.35.

Jazz Pharmaceuticals (NASDAQ:JAZZ) last released its quarterly earnings results on Tuesday, August 3rd. The specialty pharmaceutical company reported $3.90 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.08 by $0.82. The business had revenue of $751.81 million during the quarter, compared to the consensus estimate of $743.19 million. Jazz Pharmaceuticals had a return on equity of 22.00% and a net margin of 1.53%. On average, equities analysts predict that Jazz Pharmaceuticals will post 11.87 earnings per share for the current fiscal year.

About Jazz Pharmaceuticals

Jazz Pharmaceuticals Plc operates as a biopharmaceutical company, which focuses on the identification, development and commercialization of pharmaceutical products in the areas of narcolepsy, oncology, pain and psychiatry. Its product portfolio includes: Xyrem, Xywav, Sunosi, Erwinaze, Vyxeos, Defitelio, and Zepzelca.

Further Reading: Liquidity

Analyst Recommendations for Jazz Pharmaceuticals (NASDAQ:JAZZ)

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