Jazz Pharmaceuticals (NASDAQ:JAZZ) Lowered to Buy at StockNews.com

StockNews.com downgraded shares of Jazz Pharmaceuticals (NASDAQ:JAZZ) from a strong-buy rating to a buy rating in a research note published on Thursday.

A number of other equities research analysts also recently weighed in on the company. Robert W. Baird started coverage on Jazz Pharmaceuticals in a research report on Wednesday, January 3rd. They set an outperform rating and a $160.00 price objective on the stock. Cantor Fitzgerald reaffirmed an overweight rating and issued a $180.00 price objective on shares of Jazz Pharmaceuticals in a research report on Wednesday, April 10th. Truist Financial reissued a buy rating and set a $200.00 target price on shares of Jazz Pharmaceuticals in a research report on Wednesday, March 20th. Piper Sandler upped their price target on Jazz Pharmaceuticals from $171.00 to $188.00 and gave the stock an overweight rating in a research report on Wednesday, March 20th. Finally, Royal Bank of Canada reiterated an outperform rating and set a $195.00 price objective on shares of Jazz Pharmaceuticals in a report on Thursday, February 29th. Two research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average target price of $192.75.

Jazz Pharmaceuticals Trading Up 0.7 %

JAZZ stock traded up $0.72 during trading on Thursday, hitting $110.01. The company had a trading volume of 693,769 shares, compared to its average volume of 597,957. The firm has a market capitalization of $6.94 billion, a P/E ratio of 22.68, a PEG ratio of 1.51 and a beta of 0.63. The company has a quick ratio of 1.85, a current ratio of 2.27 and a debt-to-equity ratio of 1.38. Jazz Pharmaceuticals has a 52-week low of $103.01 and a 52-week high of $146.70. The company has a 50 day simple moving average of $116.44 and a 200-day simple moving average of $121.10.

Jazz Pharmaceuticals (NASDAQ:JAZZ) last posted its quarterly earnings results on Wednesday, February 28th. The specialty pharmaceutical company reported $4.40 earnings per share for the quarter, missing the consensus estimate of $4.44 by ($0.04). Jazz Pharmaceuticals had a net margin of 8.61% and a return on equity of 27.86%. The company had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1.01 billion. As a group, research analysts forecast that Jazz Pharmaceuticals will post 16.24 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CAO Patricia Carr sold 1,936 shares of the business’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $119.64, for a total transaction of $231,623.04. Following the completion of the transaction, the chief accounting officer now directly owns 8,364 shares in the company, valued at $1,000,668.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Philip L. Johnson bought 12,000 shares of the business’s stock in a transaction dated Friday, March 1st. The stock was purchased at an average cost of $119.65 per share, with a total value of $1,435,800.00. Following the acquisition, the chief financial officer now directly owns 27,932 shares in the company, valued at $3,342,063.80. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Patricia Carr sold 1,936 shares of the firm’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $119.64, for a total transaction of $231,623.04. Following the sale, the chief accounting officer now owns 8,364 shares in the company, valued at approximately $1,000,668.96. The disclosure for this sale can be found here. 4.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Jazz Pharmaceuticals

Several hedge funds have recently modified their holdings of the company. Rise Advisors LLC boosted its position in Jazz Pharmaceuticals by 2,255.6% during the first quarter. Rise Advisors LLC now owns 212 shares of the specialty pharmaceutical company’s stock worth $26,000 after purchasing an additional 203 shares in the last quarter. Cape Investment Advisory Inc. raised its position in Jazz Pharmaceuticals by 14,600.0% during the fourth quarter. Cape Investment Advisory Inc. now owns 294 shares of the specialty pharmaceutical company’s stock worth $36,000 after acquiring an additional 292 shares during the period. Covestor Ltd lifted its holdings in Jazz Pharmaceuticals by 676.5% during the third quarter. Covestor Ltd now owns 396 shares of the specialty pharmaceutical company’s stock valued at $51,000 after purchasing an additional 345 shares in the last quarter. Spire Wealth Management grew its position in shares of Jazz Pharmaceuticals by 128.6% in the third quarter. Spire Wealth Management now owns 423 shares of the specialty pharmaceutical company’s stock valued at $55,000 after purchasing an additional 238 shares during the period. Finally, Headinvest LLC purchased a new stake in shares of Jazz Pharmaceuticals during the third quarter worth about $56,000. 89.14% of the stock is owned by hedge funds and other institutional investors.

Jazz Pharmaceuticals Company Profile

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.