Jazz Pharmaceuticals (NASDAQ:JAZZ) Stock Gets Price Target Boost from Morgan Stanley

Jazz Pharmaceuticals (NASDAQ:JAZZ) had its price objective lifted by stock analysts at Morgan Stanley from $319.00 to $324.00 in a research note issued on Friday, Benzinga reports. The brokerage presently has an “overweight” rating on the specialty pharmaceutical company’s stock. Morgan Stanley‘s price target would indicate a potential upside of 35.05% from the company’s current price.

Other research analysts also recently issued research reports about the company. Robert W. Baird boosted their price target on Jazz Pharmaceuticals from $252.00 to $280.00 and gave the company an “outperform” rating in a research note on Tuesday, August 4th. Piper Sandler increased their price objective on shares of Jazz Pharmaceuticals from $310.00 to $330.00 and gave the stock an “overweight” rating in a research note on Thursday. Weiss Ratings lowered shares of Jazz Pharmaceuticals from a “hold (c+)” rating to a “hold (c-)” rating in a report on Thursday. Citigroup initiated coverage on shares of Jazz Pharmaceuticals in a research report on Wednesday, September 30th. They issued a “buy” rating and a $325.00 target price for the company. Finally, Barclays upped their price target on shares of Jazz Pharmaceuticals from $271.00 to $275.00 and gave the stock an “overweight” rating in a report on Tuesday, November 3rd. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $294.25.

Jazz Pharmaceuticals Price Performance

Jazz Pharmaceuticals stock traded down $0.45 during mid-day trading on Friday, reaching $239.92. 151,605 shares of the company were exchanged, compared to its average volume of 924,636. The firm has a market cap of $15.40 billion, a PE ratio of 81.56, a PEG ratio of 0.45 and a beta of 0.38. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.82 and a quick ratio of 1.64. The company has a fifty day simple moving average of $229.25 and a 200-day simple moving average of $219.25. Jazz Pharmaceuticals has a 12 month low of $139.26 and a 12 month high of $266.38.

Jazz Pharmaceuticals (NASDAQ:JAZZ) last released its earnings results on Monday, November 2nd. The specialty pharmaceutical company reported ($3.88) earnings per share for the quarter, beating analysts’ consensus estimates of ($4.03) by $0.15. The firm had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.21 billion. Jazz Pharmaceuticals had a return on equity of 16.88% and a net margin of 4.37%. The company’s revenue was up 10.4% compared to the same quarter last year. During the same period in the prior year, the company posted $8.13 EPS. As a group, equities research analysts expect that Jazz Pharmaceuticals will post 11.08 earnings per share for the current fiscal year.

Insider Buying and Selling at Jazz Pharmaceuticals

In other Jazz Pharmaceuticals news, EVP Neena M. Patil sold 1,200 shares of Jazz Pharmaceuticals stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $240.94, for a total value of $289,128.00. Following the transaction, the executive vice president owned 47,671 shares in the company, valued at $11,485,850.74. The trade was a 2.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Patricia Carr sold 1,413 shares of the business’s stock in a transaction dated Wednesday, November 4th. The stock was sold at an average price of $231.36, for a total value of $326,911.68. Following the transaction, the chief accounting officer directly owned 6,512 shares of the company’s stock, valued at approximately $1,506,616.32. The trade was a 17.83% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 171,342 shares of company stock worth $41,420,491 over the last quarter. 4.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Jazz Pharmaceuticals

A number of hedge funds have recently made changes to their positions in the stock. Bank of New York Mellon Corp grew its holdings in shares of Jazz Pharmaceuticals by 44.5% during 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 purchasing an additional 517,514 shares during the last quarter. Tri Locum Partners LP acquired a new stake in Jazz Pharmaceuticals in the first quarter valued at approximately $29,995,000. First Trust Advisors LP boosted its position in Jazz Pharmaceuticals by 182.5% in the third quarter. First Trust Advisors LP now owns 212,777 shares of the specialty pharmaceutical company’s stock valued at $49,262,000 after buying an additional 137,457 shares in the last quarter. Bank of America Corp DE grew its stake in shares of Jazz Pharmaceuticals by 10.9% during the first quarter. Bank of America Corp DE now owns 1,014,800 shares of the specialty pharmaceutical company’s stock worth $191,848,000 after buying an additional 99,656 shares during the last quarter. Finally, Amundi grew its stake in shares of Jazz Pharmaceuticals by 2,445.3% during the first quarter. Amundi now owns 55,640 shares of the specialty pharmaceutical company’s stock worth $10,519,000 after buying an additional 53,454 shares during the last quarter. 89.14% of the stock is currently owned by institutional investors and hedge funds.

About Jazz Pharmaceuticals

Jazz Pharmaceuticals plc is a global biopharmaceutical company focused on developing and commercializing medicines for serious diseases, particularly in neuroscience and oncology. Founded in 2003, the company is headquartered in Dublin, Ireland, and serves patients in the United States and international markets. Its products include treatments for sleep disorders and seizure conditions, such as Xywav, Xyrem, Sunosi and Epidiolex. Jazz also offers medicines used in cancer care, including Zepzelca, Vyxeos and Rylaze, as well as Defitelio for a serious complication following stem cell transplantation.