Royal Bank of Canada Issues Pessimistic Forecast for Jazz Pharmaceuticals (NASDAQ:JAZZ) Stock Price

Jazz Pharmaceuticals (NASDAQ:JAZZ) had its target price reduced by Royal Bank of Canada from $182.00 to $172.00 in a research report report published on Wednesday morning,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the specialty pharmaceutical company’s stock.

Several other brokerages also recently issued reports on JAZZ. UBS Group upgraded shares of Jazz Pharmaceuticals from a “neutral” rating to a “buy” rating and upped their target price for the stock from $145.00 to $179.00 in a research note on Friday, March 7th. Cantor Fitzgerald cut Jazz Pharmaceuticals from an “overweight” rating to a “neutral” rating and upped their price objective for the company from $140.00 to $150.00 in a research report on Wednesday, February 26th. Morgan Stanley reduced their target price on Jazz Pharmaceuticals from $183.00 to $166.00 and set an “overweight” rating for the company in a report on Wednesday. Needham & Company LLC reaffirmed a “buy” rating and set a $200.00 price target on shares of Jazz Pharmaceuticals in a report on Wednesday. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $147.00 price objective (down from $176.00) on shares of Jazz Pharmaceuticals in a research report on Wednesday. One equities research analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Jazz Pharmaceuticals currently has an average rating of “Moderate Buy” and an average price target of $182.79.

Jazz Pharmaceuticals Stock Performance

Jazz Pharmaceuticals stock opened at $97.81 on Wednesday. The stock’s 50 day moving average is $118.96 and its 200 day moving average is $122.11. The company has a market capitalization of $6.03 billion, a P/E ratio of 13.78, a PEG ratio of 1.04 and a beta of 0.38. Jazz Pharmaceuticals has a twelve month low of $95.49 and a twelve month high of $148.06. The company has a quick ratio of 3.74, a current ratio of 4.26 and a debt-to-equity ratio of 1.46.

Jazz Pharmaceuticals (NASDAQ:JAZZ) last issued its quarterly earnings results on Tuesday, May 6th. The specialty pharmaceutical company reported $1.68 earnings per share 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 the consensus estimate of $984.16 million. Jazz Pharmaceuticals had a net margin of 11.60% and a return on equity of 29.30%. Jazz Pharmaceuticals’s revenue was down .5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.68 earnings per share. On average, equities research analysts predict that Jazz Pharmaceuticals will post 16.96 earnings per share for the current fiscal year.

Insider Activity at Jazz Pharmaceuticals

In other news, CAO Patricia Carr sold 4,813 shares of the business’s stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $144.42, for a total transaction of $695,093.46. Following the completion of the sale, the chief accounting officer now owns 8,237 shares of the company’s stock, valued at $1,189,587.54. The trade was a 36.88 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Neena M. Patil sold 3,800 shares of Jazz Pharmaceuticals stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $144.87, for a total value of $550,506.00. Following the transaction, the executive vice president now owns 33,318 shares in the company, valued at $4,826,778.66. This trade represents a 10.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 28,236 shares of company stock worth $3,956,190. 4.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Jazz Pharmaceuticals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Versant Capital Management Inc boosted its holdings in shares of Jazz Pharmaceuticals by 9.4% in the 1st quarter. Versant Capital Management Inc now owns 1,058 shares of the specialty pharmaceutical company’s stock worth $131,000 after purchasing an additional 91 shares during the period. Bessemer Group Inc. lifted its position in Jazz Pharmaceuticals by 0.3% in the fourth quarter. Bessemer Group Inc. now owns 26,932 shares of the specialty pharmaceutical company’s stock worth $3,317,000 after buying an additional 92 shares during the last quarter. Kendall Capital Management boosted its stake in Jazz Pharmaceuticals by 1.2% during the first quarter. Kendall Capital Management now owns 7,964 shares of the specialty pharmaceutical company’s stock worth $989,000 after buying an additional 95 shares during the period. CIBC Asset Management Inc increased its position in Jazz Pharmaceuticals by 5.2% during the fourth quarter. CIBC Asset Management Inc now owns 1,972 shares of the specialty pharmaceutical company’s stock valued at $243,000 after acquiring an additional 97 shares during the last quarter. Finally, Synovus Financial Corp raised its stake in shares of Jazz Pharmaceuticals by 0.5% in the fourth quarter. Synovus Financial Corp now owns 19,206 shares of the specialty pharmaceutical company’s stock valued at $2,365,000 after acquiring an additional 100 shares during the period. 89.14% of the stock is owned by hedge funds and other institutional investors.

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.