Jazz Pharmaceuticals (NASDAQ:JAZZ) Upgraded by Truist Financial to Strong-Buy Rating

Truist Financial upgraded shares of Jazz Pharmaceuticals (NASDAQ:JAZZ) to a strong-buy rating in a research note issued to investors on Wednesday,Zacks.com reports.

Several other analysts have also commented on JAZZ. TD Cowen restated a “buy” rating on shares of Jazz Pharmaceuticals in a research report on Thursday, January 29th. Needham & Company LLC upped their price objective on shares of Jazz Pharmaceuticals from $210.00 to $235.00 and gave the stock a “buy” rating in a research report on Monday, January 12th. Royal Bank Of Canada increased their target price on shares of Jazz Pharmaceuticals from $191.00 to $195.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 25th. Bank of America raised their target price on Jazz Pharmaceuticals from $263.00 to $275.00 and gave the company a “buy” rating in a research report on Wednesday, February 25th. Finally, Barclays restated an “overweight” rating and issued a $224.00 price target on shares of Jazz Pharmaceuticals in a research note on Monday, March 9th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Jazz Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average target price of $215.38.

Jazz Pharmaceuticals Trading Up 2.2%

Shares of NASDAQ:JAZZ opened at $189.08 on Wednesday. The company has a current ratio of 1.86, a quick ratio of 1.67 and a debt-to-equity ratio of 1.00. Jazz Pharmaceuticals has a 12-month low of $95.49 and a 12-month high of $198.00. The business has a 50 day moving average of $175.00 and a two-hundred day moving average of $159.26. The company has a market capitalization of $11.64 billion, a PE ratio of -31.67, a PEG ratio of 0.33 and a beta of 0.22.

Jazz Pharmaceuticals (NASDAQ:JAZZ) last issued its quarterly earnings data on Tuesday, February 24th. The specialty pharmaceutical company reported $6.64 EPS for the quarter, topping analysts’ consensus estimates of $6.49 by $0.15. The business had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.17 billion. Jazz Pharmaceuticals had a negative net margin of 8.35% and a positive return on equity of 6.87%. The business’s revenue was up 8.1% on a year-over-year basis. During the same quarter last year, the company earned $6.51 EPS. As a group, analysts forecast that Jazz Pharmaceuticals will post 16.96 EPS for the current year.

Insider Buying and Selling at Jazz Pharmaceuticals

In other news, SVP Mary Elizabeth Henderson sold 5,343 shares of the stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $194.49, for a total value of $1,039,160.07. Following the completion of the sale, the senior vice president directly owned 28,728 shares in the company, valued at $5,587,308.72. This represents a 15.68% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Neena M. Patil sold 55,600 shares of the business’s stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $191.56, for a total transaction of $10,650,736.00. Following the transaction, the executive vice president owned 56,862 shares in the company, valued at $10,892,484.72. The trade was a 49.44% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 68,015 shares of company stock valued at $13,037,486 over the last ninety days. 4.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Jazz Pharmaceuticals

A number of large investors have recently made changes to their positions in the stock. Hilltop National Bank acquired a new stake in shares of Jazz Pharmaceuticals in the fourth quarter valued at approximately $36,000. LRI Investments LLC purchased a new position in Jazz Pharmaceuticals during the fourth quarter worth approximately $38,000. Farther Finance Advisors LLC boosted its stake in Jazz Pharmaceuticals by 754.8% during the third quarter. Farther Finance Advisors LLC now owns 265 shares of the specialty pharmaceutical company’s stock worth $35,000 after buying an additional 234 shares during the last quarter. Leonteq Securities AG acquired a new position in Jazz Pharmaceuticals during the fourth quarter worth $50,000. Finally, GoalVest Advisory LLC purchased a new stake in Jazz Pharmaceuticals in the 4th quarter valued at $51,000. 89.14% of the stock is currently owned by hedge funds and other institutional investors.

Jazz Pharmaceuticals Company Profile

Jazz Pharmaceuticals plc is a global biopharmaceutical company focused on developing and commercializing therapies in neuroscience and oncology. The company’s research and development efforts target unmet medical needs in sleep disorders, hematologic malignancies, rare neurological conditions and solid tumors. Jazz’s product portfolio includes therapies for narcolepsy, hepatic veno-occlusive disease, acute myeloid leukemia and other serious disorders.

Flagship products from Jazz Pharmaceuticals include Xyrem® (sodium oxybate) and Xywav® (calcium, magnesium, potassium, and sodium oxybates) for the treatment of cataplexy and excessive daytime sleepiness in patients with narcolepsy.