Morgan Stanley Issues Positive Forecast for Jazz Pharmaceuticals (NASDAQ:JAZZ) Stock Price

Jazz Pharmaceuticals (NASDAQ:JAZZ) had its price target upped by Morgan Stanley from $319.00 to $324.00 in a research report report published on Friday,Benzinga reports. They currently have an overweight rating on the specialty pharmaceutical company’s stock.

JAZZ has been the subject of a number of other research reports. TD Cowen increased their target price on shares of Jazz Pharmaceuticals from $275.00 to $300.00 and gave the company a “buy” rating in a research report on Tuesday, August 4th. Canaccord Genuity Group set a $300.00 price target on shares of Jazz Pharmaceuticals in a report on Wednesday, August 26th. Piper Sandler lifted their price target on shares of Jazz Pharmaceuticals from $310.00 to $330.00 and gave the stock an “overweight” rating in a report on Thursday. Stifel Nicolaus set a $275.00 price target on Jazz Pharmaceuticals in a research report on Tuesday, August 4th. Finally, UBS Group upped their price target on Jazz Pharmaceuticals from $315.00 to $337.00 and gave the stock a “buy” rating in a research report on Friday, September 11th. One 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 stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $294.25.

Jazz Pharmaceuticals Stock Up 0.5%

Shares of JAZZ stock traded up $1.18 during mid-day trading on Friday, hitting $241.55. 496,700 shares of the stock traded hands, compared to its average volume of 813,001. The stock has a market cap of $15.51 billion, a P/E ratio of 82.16, a P/E/G ratio of 0.44 and a beta of 0.38. The stock’s fifty day moving average is $229.13 and its two-hundred day moving average is $219.62. Jazz Pharmaceuticals has a 52-week low of $139.26 and a 52-week high of $266.38. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.82 and a quick ratio of 1.64.

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

Insider Buying and Selling at Jazz Pharmaceuticals

In related news, EVP Robert Iannone sold 76,921 shares of the company’s stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $249.70, for a total value of $19,207,173.70. Following the transaction, the executive vice president directly owned 65,686 shares of the company’s stock, valued at $16,401,794.20. This represents a 53.94% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bruce C. Cozadd sold 68,808 shares of the firm’s stock in a transaction on Friday, November 6th. The stock was sold at an average price of $235.95, for a total value of $16,235,247.60. Following the completion of the transaction, the director owned 357,567 shares of the company’s stock, valued at $84,367,933.65. This trade represents a 16.14% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 171,342 shares of company stock valued at $41,420,491. Company insiders own 4.10% of the company’s stock.

Institutional Trading of Jazz Pharmaceuticals

Several large investors have recently added to or reduced their stakes in the company. L2 Asset Management LLC increased its holdings in shares of Jazz Pharmaceuticals by 33.7% in the third quarter. L2 Asset Management LLC now owns 36,477 shares of the specialty pharmaceutical company’s stock valued at $8,445,000 after purchasing an additional 9,187 shares during the period. FORA Capital LLC raised its stake in shares of Jazz Pharmaceuticals by 103.1% in the third quarter. FORA Capital LLC now owns 10,984 shares of the specialty pharmaceutical company’s stock worth $2,539,000 after purchasing an additional 5,576 shares during the last quarter. EP Wealth Advisors LLC raised its stake in shares of Jazz Pharmaceuticals by 10.4% in the third quarter. EP Wealth Advisors LLC now owns 7,049 shares of the specialty pharmaceutical company’s stock worth $1,632,000 after purchasing an additional 664 shares during the last quarter. Empowered Funds LLC lifted its holdings in shares of Jazz Pharmaceuticals by 10.7% during the third quarter. Empowered Funds LLC now owns 118,280 shares of the specialty pharmaceutical company’s stock worth $27,384,000 after purchasing an additional 11,426 shares during the period. Finally, Xcelsior Advisor Partners LLC acquired a new stake in shares of Jazz Pharmaceuticals during the third quarter worth about $285,000. Hedge funds and other institutional investors own 89.14% of the company’s stock.

Jazz Pharmaceuticals Company Profile

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.