Jazz Pharmaceuticals PLC (JAZZ) Rating Increased to Buy at Zacks Investment Research
Jazz Pharmaceuticals PLC (NASDAQ:JAZZ) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Tuesday. The firm presently has a $174.00 price objective on the specialty pharmaceutical company’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 11.85% from the company’s previous close.
According to Zacks, “Jazz’s largest franchise is its sleep disorder portfolio. The company’s sleep disorder drug, Xyrem, is the only FDA-approved product for both cataplexy and EDS. Its lead pipeline candidate, JZP-110, being developed for the treatment of EDS in patients suffering from narcolepsy and OSA, complements its existing sleep disorder portfolio. Moreover, In Oct 2016, Jazz commenced a rolling submission for its second pipeline candidate, Vyxeos, which was completed in early Apr 2017. Jazz’ shares outperformed the industry so far this year. However, Xyrem is facing patent challenges. Jazz has also been facing challenges in building sufficient inventory levels for leukemia drug Erwinaze due to constrained manufacturing capacity and may experience further supply disruptions this year. Estimates have been stable lately ahead of the company’s Q2 earnings release.”
A number of other equities research analysts have also issued reports on JAZZ. Cantor Fitzgerald reaffirmed a “buy” rating on shares of Jazz Pharmaceuticals PLC in a report on Thursday, April 27th. Leerink Swann set a $179.00 target price on shares of Jazz Pharmaceuticals PLC and gave the stock a “buy” rating in a report on Thursday, April 27th. Cowen and Company reaffirmed an “outperform” rating and set a $190.00 target price on shares of Jazz Pharmaceuticals PLC in a report on Wednesday, May 10th. Royal Bank Of Canada initiated coverage on shares of Jazz Pharmaceuticals PLC in a report on Monday, May 15th. They set an “outperform” rating and a $210.00 target price for the company. Finally, Sanford C. Bernstein set a $176.00 target price on shares of Jazz Pharmaceuticals PLC and gave the stock a “market perform” rating in a report on Monday, May 22nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and eighteen have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $182.56.
Jazz Pharmaceuticals PLC (JAZZ) traded up 0.70% during trading on Tuesday, reaching $156.65. 200,891 shares of the company’s stock traded hands. Jazz Pharmaceuticals PLC has a one year low of $95.80 and a one year high of $163.75. The company has a 50-day moving average price of $155.48 and a 200 day moving average price of $145.64. The firm has a market capitalization of $9.40 billion, a PE ratio of 23.67 and a beta of 1.10.
Jazz Pharmaceuticals PLC (NASDAQ:JAZZ) last released its earnings results on Tuesday, May 9th. The specialty pharmaceutical company reported $1.41 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.42 by $0.01. Jazz Pharmaceuticals PLC had a return on equity of 24.65% and a net margin of 26.28%. The business had revenue of $376.10 million for the quarter, compared to analysts’ expectations of $376.58 million. During the same period in the previous year, the company earned $2.26 EPS. Jazz Pharmaceuticals PLC’s quarterly revenue was up 11.9% compared to the same quarter last year. On average, analysts anticipate that Jazz Pharmaceuticals PLC will post $11.02 earnings per share for the current fiscal year.
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In related news, CEO Bruce C. Cozadd sold 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 11th. The shares were sold at an average price of $153.47, for a total value of $4,604,100.00. Following the sale, the chief executive officer now owns 296,418 shares of the company’s stock, valued at $45,491,270.46. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Michael Patrick Miller sold 200 shares of the firm’s stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $152.98, for a total transaction of $30,596.00. Following the completion of the sale, the executive vice president now directly owns 22,623 shares in the company, valued at approximately $3,460,866.54. The disclosure for this sale can be found here. Insiders have sold 40,600 shares of company stock worth $6,245,820 in the last three months. Corporate insiders own 4.30% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. Dimensional Fund Advisors LP boosted its stake in shares of Jazz Pharmaceuticals PLC by 0.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 147,511 shares of the specialty pharmaceutical company’s stock valued at $16,082,000 after buying an additional 408 shares during the period. Teachers Advisors LLC boosted its stake in shares of Jazz Pharmaceuticals PLC by 9.5% in the fourth quarter. Teachers Advisors LLC now owns 151,056 shares of the specialty pharmaceutical company’s stock valued at $16,470,000 after buying an additional 13,119 shares during the period. Bank of Montreal Can boosted its stake in shares of Jazz Pharmaceuticals PLC by 171.4% in the first quarter. Bank of Montreal Can now owns 45,770 shares of the specialty pharmaceutical company’s stock valued at $6,644,000 after buying an additional 28,904 shares during the period. Gateway Investment Advisers LLC boosted its stake in shares of Jazz Pharmaceuticals PLC by 13.0% in the first quarter. Gateway Investment Advisers LLC now owns 73,395 shares of the specialty pharmaceutical company’s stock valued at $10,652,000 after buying an additional 8,418 shares during the period. Finally, Capital Impact Advisors LLC boosted its stake in shares of Jazz Pharmaceuticals PLC by 60.4% in the first quarter. Capital Impact Advisors LLC now owns 9,182 shares of the specialty pharmaceutical company’s stock valued at $1,333,000 after buying an additional 3,456 shares during the period. 86.43% of the stock is currently owned by hedge funds and other institutional investors.
About Jazz Pharmaceuticals PLC
Jazz Pharmaceuticals, Inc is a specialty pharmaceutical company focusing on the development and commercialization of pharmaceutical products to meet unmet medical needs in neurology and psychiatry. As of December 31, 2009, the Company markets two products: Xyrem (sodium oxybate) for the treatment of both cataplexy and excessive daytime sleepiness in patients with narcolepsy; and Luvox CR (fluvoxamine maleate) for the treatment of both obsessive compulsive disorder and social anxiety disorder.
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