Zacks Investment Research upgraded shares of Jazz Pharmaceuticals (NASDAQ:JAZZ) from a hold rating to a strong-buy rating in a report published on Tuesday morning, Zacks.com reports. Zacks Investment Research currently has $158.00 target price on the specialty pharmaceutical company’s stock.
According to Zacks, “Jazz’s key drug, Xyrem, witnessed improved volume trends in 2018 on the back of awareness efforts. The label expansion of Xyrem in pediatric patients is likely to boost Jazz’s top line. Management seems confident that Xyrem will continue to generate volume growth in 2019. Meanwhile, Jazz’s lead pipeline candidate, solriamfetol complements the sleep disorder portfolio and successful development will offset decline in Xyrem’s sales following patent expiry in 2023. Jazz’s leukemia drug, Vyxeos, also witnessed strong growth in late 2018. Launch in Europe will also boost sales in 2019. However, Jazz has been facing supply crunch for its leukemia drug, Erwinaze, owing to constrained manufacturing capacity. These supply challenges are expected to continue in 2019. Earnings estimates moved upward ahead of the company’s Q1 earnings release. The company has a positive record of earnings surprises in the recent quarters.”
Other equities analysts have also issued reports about the company. Wells Fargo & Co reaffirmed a buy rating on shares of Jazz Pharmaceuticals in a research note on Sunday, December 23rd. Oppenheimer set a $180.00 price target on Jazz Pharmaceuticals and gave the stock a buy rating in a report on Sunday, December 23rd. BidaskClub raised Jazz Pharmaceuticals from a hold rating to a buy rating in a report on Tuesday, December 18th. Cantor Fitzgerald set a $201.00 target price on Jazz Pharmaceuticals and gave the stock a buy rating in a report on Friday, January 4th. Finally, Cowen reissued a buy rating and issued a $200.00 target price on shares of Jazz Pharmaceuticals in a report on Wednesday, February 13th. Five investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of Buy and a consensus price target of $182.71.
Jazz Pharmaceuticals (NASDAQ:JAZZ) last posted its quarterly earnings data on Tuesday, February 26th. The specialty pharmaceutical company reported $3.27 EPS for the quarter, topping the Zacks’ consensus estimate of $2.66 by $0.61. The company had revenue of $476.46 million for the quarter, compared to analyst estimates of $459.48 million. Jazz Pharmaceuticals had a return on equity of 26.20% and a net margin of 23.64%. The firm’s quarterly revenue was up 9.2% on a year-over-year basis. During the same period in the previous year, the firm earned $2.95 earnings per share. Equities analysts predict that Jazz Pharmaceuticals will post 13.19 earnings per share for the current fiscal year.
In other Jazz Pharmaceuticals news, CFO Matthew P. Young sold 1,152 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $135.41, for a total transaction of $155,992.32. Following the sale, the chief financial officer now directly owns 38,700 shares of the company’s stock, valued at $5,240,367. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Paul Treacy sold 1,060 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $135.41, for a total value of $143,534.60. Following the sale, the senior vice president now directly owns 21,238 shares in the company, valued at $2,875,837.58. The disclosure for this sale can be found here. Insiders sold 11,668 shares of company stock worth $1,606,567 over the last quarter. 3.90% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of JAZZ. Prime Capital Investment Advisors LLC purchased a new stake in shares of Jazz Pharmaceuticals during the 1st quarter valued at $27,000. Mercer Global Advisors Inc. ADV acquired a new position in shares of Jazz Pharmaceuticals in the first quarter worth $562,000. Moody National Bank Trust Division acquired a new position in shares of Jazz Pharmaceuticals in the first quarter worth $40,000. Rhenman & Partners Asset Management AB grew its stake in shares of Jazz Pharmaceuticals by 12.9% in the first quarter. Rhenman & Partners Asset Management AB now owns 187,171 shares of the specialty pharmaceutical company’s stock worth $26,756,000 after acquiring an additional 21,353 shares in the last quarter. Finally, We Are One Seven LLC grew its stake in shares of Jazz Pharmaceuticals by 98.8% in the first quarter. We Are One Seven LLC now owns 4,931 shares of the specialty pharmaceutical company’s stock worth $704,000 after acquiring an additional 2,450 shares in the last quarter. 93.41% of the stock is currently owned by institutional investors.
About Jazz Pharmaceuticals
Jazz Pharmaceuticals plc, a biopharmaceutical company, identifies, develops, and commercializes pharmaceutical products for various unmet medical needs in the United States, Europe, and internationally. The company has a portfolio of products and product candidates with a focus in the areas of sleep and hematology/oncology.
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