Jazz Pharmaceuticals (NASDAQ:JAZZ) Sets New 1-Year High – Here’s What Happened

Jazz Pharmaceuticals PLC (NASDAQ:JAZZ)’s share price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $235.42 and last traded at $233.5930, with a volume of 65011 shares trading hands. The stock had previously closed at $229.55.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on JAZZ shares. Wells Fargo & Company increased their price objective on shares of Jazz Pharmaceuticals from $250.00 to $265.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. Morgan Stanley reiterated an “overweight” rating and issued a $245.00 price objective on shares of Jazz Pharmaceuticals in a report on Thursday, May 7th. Raymond James Financial reiterated an “outperform” rating and issued a $239.00 price objective on shares of Jazz Pharmaceuticals in a report on Wednesday, May 6th. Robert W. Baird set a $252.00 price objective on shares of Jazz Pharmaceuticals in a report on Wednesday, May 6th. Finally, Bank of America increased their price objective on shares of Jazz Pharmaceuticals from $263.00 to $275.00 and gave the company a “buy” rating in a report on Wednesday, February 25th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Jazz Pharmaceuticals presently has an average rating of “Moderate Buy” and an average price target of $238.00.

Jazz Pharmaceuticals Stock Up 0.7%

The stock has a market capitalization of $15.00 billion, a P/E ratio of -11,944.53, a PEG ratio of 0.42 and a beta of 0.27. The company has a debt-to-equity ratio of 0.95, a current ratio of 2.04 and a quick ratio of 1.85. The stock’s fifty day moving average is $200.28 and its two-hundred day moving average is $178.86.

Jazz Pharmaceuticals (NASDAQ:JAZZ) last issued its earnings results on Tuesday, March 31st. The specialty pharmaceutical company reported $6.34 earnings per share for the quarter. The firm had revenue of $1.07 billion during the quarter. Jazz Pharmaceuticals had a net margin of 0.66% and a return on equity of 14.56%. As a group, research analysts predict that Jazz Pharmaceuticals PLC will post 20.75 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Bruce C. Cozadd sold 6,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $190.50, for a total transaction of $1,143,000.00. Following the completion of the sale, the director directly owned 384,682 shares in the company, valued at approximately $73,281,921. This trade represents a 1.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Neena M. Patil sold 55,600 shares of the company’s stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $191.56, for a total transaction of $10,650,736.00. Following the completion of the sale, the executive vice president owned 56,862 shares of the company’s stock, valued at approximately $10,892,484.72. This trade represents a 49.44% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 74,015 shares of company stock valued at $14,180,486 in the last ninety days. 4.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On Jazz Pharmaceuticals

Hedge funds have recently made changes to their positions in the company. Hilltop National Bank purchased a new stake in shares of Jazz Pharmaceuticals in the 4th quarter valued at approximately $36,000. LRI Investments LLC purchased a new stake in shares of Jazz Pharmaceuticals in the 4th quarter valued at approximately $38,000. Westpac Banking Corp purchased a new stake in shares of Jazz Pharmaceuticals in the 1st quarter valued at approximately $51,000. Leonteq Securities AG purchased a new stake in shares of Jazz Pharmaceuticals in the 4th quarter valued at approximately $50,000. Finally, Root Financial Partners LLC lifted its position in shares of Jazz Pharmaceuticals by 42.8% in the 1st quarter. Root Financial Partners LLC now owns 297 shares of the specialty pharmaceutical company’s stock valued at $56,000 after acquiring an additional 89 shares in the last quarter. Hedge funds and other institutional investors own 89.14% of the company’s stock.

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.