Piper Sandler Issues Positive Forecast for Jazz Pharmaceuticals (NASDAQ:JAZZ) Stock Price

Jazz Pharmaceuticals (NASDAQ:JAZZ) had its target price raised by investment analysts at Piper Sandler from $310.00 to $330.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has an “overweight” rating on the specialty pharmaceutical company’s stock. Piper Sandler‘s price target indicates a potential upside of 32.94% from the company’s current price.

JAZZ has been the topic of several other reports. UBS Group upped their price target on Jazz Pharmaceuticals from $315.00 to $337.00 and gave the company a “buy” rating in a research report on Friday, September 11th. Royal Bank Of Canada raised their price objective on shares of Jazz Pharmaceuticals from $296.00 to $305.00 and gave the company an “outperform” rating in a research report on Tuesday, November 3rd. Wall Street Zen cut shares of Jazz Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Saturday, November 7th. Truist Financial upped their target price on shares of Jazz Pharmaceuticals from $281.00 to $286.00 and gave the stock a “buy” rating in a report on Wednesday, October 7th. Finally, Citigroup initiated coverage on shares of Jazz Pharmaceuticals in a research note on Wednesday, September 30th. They issued a “buy” rating and a $325.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $294.00.

Jazz Pharmaceuticals Trading Up 1.1%

NASDAQ:JAZZ opened at $248.24 on Thursday. Jazz Pharmaceuticals has a 1 year low of $136.27 and a 1 year high of $266.38. The stock’s fifty day moving average price is $229.35 and its two-hundred day moving average price is $218.88. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.82 and a quick ratio of 1.64. The company has a market cap of $15.93 billion, a P/E ratio of 21.76, a P/E/G ratio of 0.45 and a beta of 0.38.

Jazz Pharmaceuticals (NASDAQ:JAZZ) last announced its quarterly earnings results on Monday, November 2nd. The specialty pharmaceutical company reported ($3.88) earnings per share for the quarter, beating the consensus estimate of ($4.03) by $0.15. Jazz Pharmaceuticals had a return on equity of 16.88% and a net margin of 4.37%. The company had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.21 billion. During the same period in the previous year, the business earned $8.13 earnings per share. The firm’s quarterly revenue was up 10.4% compared to the same quarter last year. As a group, analysts expect that Jazz Pharmaceuticals will post 11.08 EPS for the current year.

Insider Activity

In other news, EVP Robert Iannone sold 76,921 shares of the business’s stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $249.70, for a total transaction of $19,207,173.70. Following the completion of the transaction, the executive vice president owned 65,686 shares of the company’s stock, valued at approximately $16,401,794.20. The trade was a 53.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Neena Patil sold 1,200 shares of the company’s stock in a transaction that occurred on Thursday, September 10th. The stock was sold at an average price of $240.94, for a total transaction of $289,128.00. Following the completion of the transaction, the executive vice president owned 47,671 shares in the company, valued at approximately $11,485,850.74. This trade represents a 2.46% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 171,342 shares of company stock worth $41,420,491. Company insiders own 4.10% of the company’s stock.

Hedge Funds Weigh In On Jazz Pharmaceuticals

A number of hedge funds and other institutional investors have recently bought and sold shares of JAZZ. Triumph Capital Management lifted its holdings in shares of Jazz Pharmaceuticals by 2.0% during the 2nd quarter. Triumph Capital Management now owns 2,597 shares of the specialty pharmaceutical company’s stock worth $626,000 after acquiring an additional 52 shares during the last quarter. Keybank National Association OH increased its stake in Jazz Pharmaceuticals by 0.6% in the third quarter. Keybank National Association OH now owns 10,141 shares of the specialty pharmaceutical company’s stock valued at $2,348,000 after acquiring an additional 57 shares during the last quarter. XML Financial LLC raised its position in Jazz Pharmaceuticals by 1.1% during the third quarter. XML Financial LLC now owns 6,559 shares of the specialty pharmaceutical company’s stock valued at $1,519,000 after purchasing an additional 71 shares in the last quarter. Bessemer Group Inc. raised its position in Jazz Pharmaceuticals by 0.3% during the first quarter. Bessemer Group Inc. now owns 22,362 shares of the specialty pharmaceutical company’s stock valued at $4,228,000 after purchasing an additional 73 shares in the last quarter. Finally, Evergreen Capital Management LLC raised its position in Jazz Pharmaceuticals by 4.2% during the third quarter. Evergreen Capital Management LLC now owns 2,250 shares of the specialty pharmaceutical company’s stock valued at $521,000 after purchasing an additional 90 shares in the last quarter. Hedge funds and other institutional investors own 89.14% of the company’s stock.

About Jazz Pharmaceuticals

Jazz Pharmaceuticals plc is a global biopharmaceutical company focused on developing and commercializing medicines for serious diseases, particularly in neuroscience and oncology. Founded in 2003, the company is headquartered in Dublin, Ireland, and serves patients in the United States and international markets. Its products include treatments for sleep disorders and seizure conditions, such as Xywav, Xyrem, Sunosi and Epidiolex. Jazz also offers medicines used in cancer care, including Zepzelca, Vyxeos and Rylaze, as well as Defitelio for a serious complication following stem cell transplantation.