Jazz Pharmaceuticals (NASDAQ:JAZZ) Issues Earnings Results

Jazz Pharmaceuticals (NASDAQ:JAZZ) released its quarterly earnings results on Tuesday. The specialty pharmaceutical company reported $6.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.49 by $0.15, FiscalAI reports. The firm had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.17 billion. Jazz Pharmaceuticals had a positive return on equity of 6.61% and a negative net margin of 8.86%.

Jazz Pharmaceuticals Stock Up 0.3%

NASDAQ:JAZZ traded up $0.58 during mid-day trading on Tuesday, reaching $173.83. The company’s stock had a trading volume of 978,612 shares, compared to its average volume of 1,018,191. The company has a quick ratio of 1.44, a current ratio of 1.65 and a debt-to-equity ratio of 1.09. The firm has a market capitalization of $10.56 billion, a PE ratio of -28.64, a price-to-earnings-growth ratio of 0.93 and a beta of 0.26. The stock has a fifty day moving average of $168.00 and a 200-day moving average of $149.83. Jazz Pharmaceuticals has a 1 year low of $95.49 and a 1 year high of $182.99.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on JAZZ shares. Bank of America boosted their price target on Jazz Pharmaceuticals from $230.00 to $247.00 and gave the company a “buy” rating in a research note on Tuesday, November 18th. UBS Group restated a “neutral” rating and set a $188.00 price objective (up from $163.00) on shares of Jazz Pharmaceuticals in a research report on Monday, November 24th. Royal Bank Of Canada set a $194.00 target price on shares of Jazz Pharmaceuticals and gave the stock an “outperform” rating in a report on Monday, November 17th. Robert W. Baird raised their price target on Jazz Pharmaceuticals from $160.00 to $209.00 and gave the company an “outperform” rating in a report on Tuesday, November 18th. Finally, Morgan Stanley reissued an “overweight” rating and set a $225.00 target price on shares of Jazz Pharmaceuticals in a research note on Thursday, January 8th. Fourteen investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $205.67.

Insider Buying and Selling

In other Jazz Pharmaceuticals news, CAO Patricia Carr sold 4,660 shares of the stock in a transaction dated Friday, December 5th. The shares were sold at an average price of $171.20, for a total transaction of $797,792.00. Following the completion of the sale, the chief accounting officer directly owned 7,012 shares of the company’s stock, valued at approximately $1,200,454.40. This represents a 39.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Mary Elizabeth Henderson sold 2,238 shares of the firm’s stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $169.51, for a total transaction of $379,363.38. Following the completion of the sale, the senior vice president owned 19,508 shares of the company’s stock, valued at approximately $3,306,801.08. This trade represents a 10.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 84,398 shares of company stock worth $14,957,430 in the last three months. 4.30% of the stock is owned by insiders.

Hedge Funds Weigh In On Jazz Pharmaceuticals

Several hedge funds have recently modified their holdings of the stock. Danske Bank A S purchased a new stake in Jazz Pharmaceuticals during the 3rd quarter worth approximately $40,000. Caitong International Asset Management Co. Ltd raised its stake in Jazz Pharmaceuticals by 1,383.3% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 356 shares of the specialty pharmaceutical company’s stock worth $47,000 after acquiring an additional 332 shares during the last quarter. Kestra Advisory Services LLC acquired a new stake in Jazz Pharmaceuticals during the 4th quarter worth about $63,000. Geneos Wealth Management Inc. grew its stake in Jazz Pharmaceuticals by 57.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 375 shares of the specialty pharmaceutical company’s stock valued at $47,000 after purchasing an additional 137 shares during the last quarter. Finally, Sunbelt Securities Inc. acquired a new position in shares of Jazz Pharmaceuticals in the third quarter valued at about $53,000. Institutional investors and hedge funds own 89.14% of the company’s stock.

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.