Jazz Pharmaceuticals (NASDAQ:JAZZ) Cut to Buy at Wall Street Zen

Wall Street Zen lowered shares of Jazz Pharmaceuticals (NASDAQ:JAZZ) from a strong-buy rating to a buy rating in a research report report published on Saturday morning,Wall Street Zen reports.

A number of other equities research analysts have also weighed in on JAZZ. Deutsche Bank Aktiengesellschaft lifted their price objective on Jazz Pharmaceuticals from $287.00 to $300.00 and gave the company a “buy” rating in a report on Wednesday, August 26th. Royal Bank Of Canada set a $299.00 price target on Jazz Pharmaceuticals in a report on Friday, August 28th. Weiss Ratings upgraded Jazz Pharmaceuticals from a “hold (c-)” rating to a “buy (b-)” rating in a research note on Tuesday, August 4th. Piper Sandler upped their price objective on Jazz Pharmaceuticals from $301.00 to $310.00 and gave the stock an “overweight” rating in a report on Tuesday, August 4th. Finally, Stifel Nicolaus set a $275.00 price objective on Jazz Pharmaceuticals in a report on Tuesday, August 4th. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, Jazz Pharmaceuticals has a consensus rating of “Buy” and a consensus target price of $291.15.

Jazz Pharmaceuticals Price Performance

Shares of NASDAQ JAZZ opened at $236.04 on Friday. The stock has a fifty day moving average price of $246.69 and a 200 day moving average price of $230.09. Jazz Pharmaceuticals has a 1-year low of $128.80 and a 1-year high of $266.38. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.78 and a quick ratio of 1.58. The company has a market cap of $15.32 billion, a PE ratio of 16.28, a P/E/G ratio of 0.21 and a beta of 0.37.

Jazz Pharmaceuticals (NASDAQ:JAZZ) last announced its quarterly earnings data on Monday, August 3rd. The specialty pharmaceutical company reported $5.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.18 by ($0.47). Jazz Pharmaceuticals had a net margin of 20.45% and a return on equity of 33.97%. The firm had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.11 billion. During the same period in the prior year, the firm posted ($8.25) earnings per share. The business’s quarterly revenue was up 15.5% compared to the same quarter last year. Sell-side analysts forecast that Jazz Pharmaceuticals will post 21.61 EPS for the current year.

Insider Activity at Jazz Pharmaceuticals

In related news, Director Bruce C. Cozadd sold 6,000 shares of the company’s stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $230.33, for a total value of $1,381,980.00. Following the sale, the director owned 345,875 shares in the company, valued at $79,665,388.75. This represents a 1.71% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Neena M. Patil sold 1,200 shares of the firm’s stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $240.94, for a total value of $289,128.00. Following the completion of the transaction, the executive vice president directly owned 47,671 shares of the company’s stock, valued at $11,485,850.74. The trade was a 2.46% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 98,121 shares of company stock valued at $24,383,002. 4.10% of the stock is owned by corporate insiders.

Institutional Trading of Jazz Pharmaceuticals

A number of institutional investors have recently bought and sold shares of the company. Capital World Investors increased its position in shares of Jazz Pharmaceuticals by 4.4% in the fourth quarter. Capital World Investors now owns 2,666,602 shares of the specialty pharmaceutical company’s stock valued at $453,322,000 after buying an additional 111,735 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Jazz Pharmaceuticals by 44.5% in the 1st quarter. Bank of New York Mellon Corp now owns 1,679,371 shares of the specialty pharmaceutical company’s stock valued at $317,485,000 after acquiring an additional 517,514 shares during the last quarter. Franklin Resources Inc. grew its stake in Jazz Pharmaceuticals by 164.0% in the 4th quarter. Franklin Resources Inc. now owns 1,818,911 shares of the specialty pharmaceutical company’s stock valued at $309,215,000 after acquiring an additional 1,129,995 shares during the last quarter. Bank of America Corp DE increased its holdings in Jazz Pharmaceuticals by 10.9% during the 1st quarter. Bank of America Corp DE now owns 1,014,800 shares of the specialty pharmaceutical company’s stock valued at $191,848,000 after acquiring an additional 99,656 shares in the last quarter. Finally, Sofinnova Investments Inc. increased its holdings in Jazz Pharmaceuticals by 63.0% during the 4th quarter. Sofinnova Investments Inc. now owns 959,860 shares of the specialty pharmaceutical company’s stock valued at $163,176,000 after acquiring an additional 371,032 shares in the last quarter. 89.14% of the stock is currently owned by hedge funds and other institutional investors.

Jazz Pharmaceuticals Company Profile

Jazz Pharmaceuticals plc is a biopharmaceutical company focused on developing and commercializing medicines for patients with serious neurological and oncology-related conditions. Founded in 2003 and headquartered in Dublin, Ireland, the company operates internationally, with a significant commercial presence in the United States and other markets.

Jazz’s neuroscience portfolio includes Xywav and Xyrem, which contain oxybate and are used to treat narcolepsy-related symptoms; Xywav is also approved for idiopathic hypersomnia in adults.