Jazz Pharmaceuticals’ (JAZZ) Buy Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Jazz Pharmaceuticals (NASDAQ:JAZZ) in a report released on Wednesday morning,Benzinga reports. They currently have a $200.00 price objective on the specialty pharmaceutical company’s stock.

A number of other equities research analysts have also issued reports on JAZZ. Wells Fargo & Company upgraded shares of Jazz Pharmaceuticals from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $130.00 to $170.00 in a research note on Thursday, February 13th. Truist Financial lifted their price objective on shares of Jazz Pharmaceuticals from $220.00 to $230.00 and gave the stock a “buy” rating in a report on Thursday, March 6th. Morgan Stanley reaffirmed an “overweight” rating and issued a $183.00 price target (up from $175.00) on shares of Jazz Pharmaceuticals in a report on Friday, March 7th. Royal Bank of Canada decreased their target price on Jazz Pharmaceuticals from $179.00 to $178.00 and set an “outperform” rating for the company in a research note on Wednesday, February 26th. Finally, Barclays reaffirmed an “overweight” rating and issued a $200.00 target price (up from $190.00) on shares of Jazz Pharmaceuticals in a research report on Thursday, February 27th. One investment analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $182.79.

Jazz Pharmaceuticals Stock Down 8.8 %

Shares of NASDAQ:JAZZ opened at $101.44 on Wednesday. The company has a current ratio of 4.26, a quick ratio of 3.74 and a debt-to-equity ratio of 1.46. The firm has a market cap of $6.25 billion, a price-to-earnings ratio of 14.29, a PEG ratio of 1.04 and a beta of 0.38. The stock’s 50-day moving average price is $120.63 and its two-hundred day moving average price is $122.32. Jazz Pharmaceuticals has a 12-month low of $95.49 and a 12-month high of $148.06.

Jazz Pharmaceuticals (NASDAQ:JAZZ) last announced its quarterly earnings data on Tuesday, May 6th. The specialty pharmaceutical company reported $1.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.65 by ($2.97). The company had revenue of $897.84 million for the quarter, compared to analysts’ expectations of $984.16 million. Jazz Pharmaceuticals had a net margin of 11.60% and a return on equity of 29.30%. The firm’s quarterly revenue was down .5% on a year-over-year basis. During the same period in the prior year, the firm earned $2.68 earnings per share. On average, research analysts forecast that Jazz Pharmaceuticals will post 16.96 EPS for the current year.

Insider Activity

In related news, CEO Bruce C. Cozadd sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $116.35, for a total transaction of $116,350.00. Following the transaction, the chief executive officer now directly owns 439,307 shares of the company’s stock, valued at approximately $51,113,369.45. The trade was a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CMO Robert Iannone sold 7,080 shares of Jazz Pharmaceuticals stock in a transaction on Friday, March 7th. The shares were sold at an average price of $138.60, for a total transaction of $981,288.00. Following the sale, the chief marketing officer now directly owns 82,024 shares of the company’s stock, valued at $11,368,526.40. This trade represents a 7.95 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 28,236 shares of company stock worth $3,956,190 over the last quarter. Corporate insiders own 4.20% of the company’s stock.

Institutional Investors Weigh In On Jazz Pharmaceuticals

A number of large investors have recently added to or reduced their stakes in JAZZ. Hurley Capital LLC bought a new stake in Jazz Pharmaceuticals during the 1st quarter valued at approximately $25,000. Picton Mahoney Asset Management boosted its position in shares of Jazz Pharmaceuticals by 2,445.5% in the first quarter. Picton Mahoney Asset Management now owns 280 shares of the specialty pharmaceutical company’s stock valued at $34,000 after acquiring an additional 269 shares during the period. LPL Financial LLC grew its stake in shares of Jazz Pharmaceuticals by 14.5% in the first quarter. LPL Financial LLC now owns 25,769 shares of the specialty pharmaceutical company’s stock worth $3,199,000 after acquiring an additional 3,264 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Jazz Pharmaceuticals by 649.5% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 199,204 shares of the specialty pharmaceutical company’s stock worth $24,731,000 after acquiring an additional 172,626 shares during the period. Finally, Caliber Wealth Management LLC KS acquired a new position in Jazz Pharmaceuticals during the 1st quarter valued at $283,000. Institutional investors own 89.14% of the company’s stock.

About Jazz Pharmaceuticals

Jazz Pharmaceuticals plc identifies, develops, and commercializes pharmaceutical products for unmet medical needs in the United States, Europe, and internationally. The company offers Xywav for cataplexy or excessive daytime sleepiness (EDS) with narcolepsy and idiopathic hypersomnia; Xyrem to treat cataplexy or EDS with narcolepsy; Epidiolex for seizures associated with Lennox-Gastaut and Dravet syndromes, or tuberous sclerosis complex; Zepzelca to treat metastatic small cell lung cancer, or with disease progression on or after platinum-based chemotherapy; Rylaze for acute lymphoblastic leukemia or lymphoblastic lymphoma; Enrylaze to treat acute lymphoblastic leukemia and lymphoblastic lymphoma; Defitelio to treat severe hepatic veno-occlusive disease; and Vyxeos for newly-diagnosed therapy-related acute myeloid leukemia.