Sanford C. Bernstein Upgrades Jazz Pharmaceuticals (NASDAQ:JAZZ) to Hold

Jazz Pharmaceuticals (NASDAQ:JAZZ) was upgraded by stock analysts at Sanford C. Bernstein to a “hold” rating in a research report issued to clients and investors on Thursday,Zacks.com reports.

A number of other research firms also recently weighed in on JAZZ. Morgan Stanley restated an “overweight” rating and set a $245.00 target price on shares of Jazz Pharmaceuticals in a research report on Thursday, May 7th. Bank of America upped their price objective on Jazz Pharmaceuticals from $263.00 to $275.00 and gave the company a “buy” rating in a report on Wednesday, February 25th. Royal Bank Of Canada upped their price objective on Jazz Pharmaceuticals from $195.00 to $258.00 and gave the company an “outperform” rating in a report on Wednesday, May 6th. Barclays upped their price objective on Jazz Pharmaceuticals from $225.00 to $234.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. Finally, UBS Group upgraded Jazz Pharmaceuticals from a “neutral” rating to a “buy” rating and upped their price objective for the company from $188.00 to $307.00 in a report on Tuesday. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $241.53.

Jazz Pharmaceuticals Trading Up 0.2%

JAZZ stock opened at $239.83 on Thursday. The company has a market cap of $15.05 billion, a P/E ratio of -11,985.51, a PEG ratio of 0.43 and a beta of 0.27. Jazz Pharmaceuticals has a twelve month low of $105.00 and a twelve month high of $243.32. The company has a quick ratio of 1.85, a current ratio of 2.04 and a debt-to-equity ratio of 0.95. The business has a fifty day moving average of $202.44 and a 200-day moving average of $179.99.

Jazz Pharmaceuticals (NASDAQ:JAZZ) last released its earnings results on Tuesday, March 31st. The specialty pharmaceutical company reported $6.34 earnings per share for the quarter. The company had revenue of $1.07 billion during the quarter. Jazz Pharmaceuticals had a return on equity of 14.56% and a net margin of 0.66%. As a group, equities research analysts expect that Jazz Pharmaceuticals will post 20.75 EPS for the current year.

Insiders Place Their Bets

In related news, EVP Neena M. Patil sold 55,600 shares of the company’s stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $191.56, for a total value of $10,650,736.00. Following the completion of the sale, the executive vice president owned 56,862 shares in the company, valued at approximately $10,892,484.72. This represents a 49.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Norbert G. Riedel sold 3,415 shares of the business’s stock in a transaction dated Friday, February 27th. The shares were sold at an average price of $192.00, for a total value of $655,680.00. Following the completion of the transaction, the director directly owned 7,024 shares of the company’s stock, valued at approximately $1,348,608. The trade was a 32.71% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 74,015 shares of company stock valued at $14,180,486 in the last ninety days. 4.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in JAZZ. Cardinal Capital Management raised its position in shares of Jazz Pharmaceuticals by 0.5% in the 4th quarter. Cardinal Capital Management now owns 14,538 shares of the specialty pharmaceutical company’s stock worth $2,471,000 after acquiring an additional 66 shares in the last quarter. Bessemer Group Inc. increased its position in Jazz Pharmaceuticals by 0.3% in the 1st quarter. Bessemer Group Inc. now owns 22,362 shares of the specialty pharmaceutical company’s stock valued at $4,228,000 after buying an additional 73 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in Jazz Pharmaceuticals by 9.0% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 983 shares of the specialty pharmaceutical company’s stock valued at $130,000 after buying an additional 81 shares in the last quarter. UMB Bank n.a. increased its position in Jazz Pharmaceuticals by 12.6% in the 4th quarter. UMB Bank n.a. now owns 725 shares of the specialty pharmaceutical company’s stock valued at $123,000 after buying an additional 81 shares in the last quarter. Finally, Pinnacle Associates Ltd. increased its position in Jazz Pharmaceuticals by 0.7% in the 4th quarter. Pinnacle Associates Ltd. now owns 11,203 shares of the specialty pharmaceutical company’s stock valued at $1,905,000 after buying an additional 83 shares in the last quarter. 89.14% of the stock is owned by institutional investors and hedge funds.

About Jazz Pharmaceuticals

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.