Jazz Pharmaceuticals (NASDAQ:JAZZ) Reaches New 1-Year High Following Analyst Upgrade

Jazz Pharmaceuticals PLC (NASDAQ:JAZZ) reached a new 52-week high during mid-day trading on Tuesday after Needham & Company LLC raised their price target on the stock from $255.00 to $282.00. Needham & Company LLC currently has a buy rating on the stock. Jazz Pharmaceuticals traded as high as $250.85 and last traded at $250.4050, with a volume of 166153 shares changing hands. The stock had previously closed at $243.47.

A number of other equities analysts have also weighed in on JAZZ. Piper Sandler lifted their price objective on Jazz Pharmaceuticals from $232.00 to $301.00 and gave the company an “overweight” rating in a research note on Friday, May 22nd. UBS Group upgraded Jazz Pharmaceuticals from a “neutral” rating to a “buy” rating and upped their target price for the stock from $188.00 to $307.00 in a research note on Tuesday, May 19th. Leerink Partners lifted their price target on Jazz Pharmaceuticals from $215.00 to $225.00 and gave the company an “outperform” rating in a research report on Wednesday, April 22nd. Bank of America boosted their price target on Jazz Pharmaceuticals from $281.00 to $307.00 and gave the company a “buy” rating in a report on Wednesday, June 10th. Finally, TD Cowen upped their price objective on Jazz Pharmaceuticals from $220.00 to $275.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $259.06.

Insiders Place Their Bets

In other Jazz Pharmaceuticals news, Director Heather Ann Mcsharry sold 2,000 shares of the company’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $241.00, for a total value of $482,000.00. Following the completion of the transaction, the director owned 18,449 shares in the company, valued at approximately $4,446,209. This represents a 9.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Mark Douglas Smith sold 1,157 shares of the stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $230.55, for a total transaction of $266,746.35. Following the sale, the director directly owned 9,680 shares in the company, valued at approximately $2,231,724. The trade was a 10.68% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 13,098 shares of company stock valued at $3,131,906. Insiders own 4.10% of the company’s stock.

Institutional Trading of Jazz Pharmaceuticals

Several institutional investors have recently bought and sold shares of the business. Vestal Point Capital LP acquired a new stake in shares of Jazz Pharmaceuticals in the second quarter valued at about $127,344,000. Franklin Resources Inc. raised its position in shares of Jazz Pharmaceuticals by 164.0% during the 4th quarter. Franklin Resources Inc. now owns 1,818,911 shares of the specialty pharmaceutical company’s stock worth $309,215,000 after purchasing an additional 1,129,995 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Jazz Pharmaceuticals by 160.2% during the 4th quarter. Bank of New York Mellon Corp now owns 1,161,857 shares of the specialty pharmaceutical company’s stock worth $197,516,000 after purchasing an additional 715,361 shares during the last quarter. Adage Capital Partners GP L.L.C. lifted its stake in Jazz Pharmaceuticals by 258.2% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 548,000 shares of the specialty pharmaceutical company’s stock valued at $93,160,000 after buying an additional 395,000 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC lifted its stake in Jazz Pharmaceuticals by 592.1% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 436,443 shares of the specialty pharmaceutical company’s stock valued at $57,523,000 after buying an additional 373,383 shares in the last quarter. 89.14% of the stock is owned by institutional investors and hedge funds.

Jazz Pharmaceuticals Trading Up 2.7%

The company has a fifty day moving average of $235.51 and a 200-day moving average of $201.15. The company has a market capitalization of $15.71 billion, a price-to-earnings ratio of -12,500.00, a PEG ratio of 0.22 and a beta of 0.32. The company has a current ratio of 2.04, a quick ratio of 1.85 and a debt-to-equity ratio of 0.95.

Jazz Pharmaceuticals (NASDAQ:JAZZ) last issued its quarterly earnings results on Tuesday, March 31st. The specialty pharmaceutical company reported $6.34 earnings per share (EPS) for the quarter. Jazz Pharmaceuticals had a return on equity of 14.56% and a net margin of 0.66%.The firm had revenue of $1.07 billion for the quarter. As a group, equities research analysts anticipate that Jazz Pharmaceuticals PLC will post 21.9 earnings per share for the current fiscal year.

About Jazz Pharmaceuticals

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.