Jazz Pharmaceuticals (NASDAQ:JAZZ) Given “Buy” Rating at Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Jazz Pharmaceuticals (NASDAQ:JAZZ) in a report issued on Tuesday,Benzinga reports. They currently have a $202.00 target price on the specialty pharmaceutical company’s stock.

Several other equities research analysts also recently commented on JAZZ. Truist Financial lifted their price objective on Jazz Pharmaceuticals from $220.00 to $230.00 and gave the stock a “buy” rating in a report on Thursday, March 6th. JPMorgan Chase & Co. boosted their price target on Jazz Pharmaceuticals from $200.00 to $209.00 and gave the company an “overweight” rating in a research note on Wednesday, February 26th. HC Wainwright boosted their price target on Jazz Pharmaceuticals from $200.00 to $217.00 and gave the company a “buy” rating in a research note on Monday, March 10th. Barclays restated an “overweight” rating and set a $200.00 price target (up from $190.00) on shares of Jazz Pharmaceuticals in a research note on Thursday, February 27th. Finally, Cantor Fitzgerald downgraded Jazz Pharmaceuticals from an “overweight” rating to a “neutral” rating and boosted their price target for the company from $140.00 to $150.00 in a research note on Wednesday, February 26th. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, Jazz Pharmaceuticals has an average rating of “Moderate Buy” and a consensus price target of $182.93.

Jazz Pharmaceuticals Price Performance

NASDAQ JAZZ opened at $110.32 on Tuesday. Jazz Pharmaceuticals has a one year low of $95.49 and a one year high of $148.06. The stock has a 50-day moving average of $108.95 and a 200 day moving average of $121.18. The company has a market capitalization of $6.80 billion, a price-to-earnings ratio of 15.54, a PEG ratio of 1.04 and a beta of 0.38. The company has a debt-to-equity ratio of 1.46, a quick ratio of 3.74 and a current ratio of 4.26.

Jazz Pharmaceuticals (NASDAQ:JAZZ) last released its quarterly earnings data on Tuesday, May 6th. The specialty pharmaceutical company reported $1.68 EPS for the quarter, missing the consensus estimate of $4.65 by ($2.97). Jazz Pharmaceuticals had a return on equity of 29.30% and a net margin of 11.60%. The business had revenue of $897.84 million during the quarter, compared to the consensus estimate of $984.16 million. During the same quarter in the previous year, the business posted $2.68 earnings per share. Jazz Pharmaceuticals’s quarterly revenue was down .5% compared to the same quarter last year. On average, sell-side analysts forecast that Jazz Pharmaceuticals will post 16.96 EPS for the current year.

Insider Activity

In related news, Director Seamus Mulligan acquired 100,000 shares of the stock in a transaction dated Friday, May 9th. The shares were purchased at an average cost of $98.26 per share, with a total value of $9,826,000.00. Following the transaction, the director now directly owns 100,000 shares in the company, valued at approximately $9,826,000. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CMO Robert Iannone sold 7,080 shares of Jazz Pharmaceuticals stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $138.60, for a total value of $981,288.00. Following the transaction, the chief marketing officer now directly owns 82,024 shares in the company, valued at approximately $11,368,526.40. The trade was a 7.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 13,123 shares of company stock valued at $1,772,966 in the last ninety days. Corporate insiders own 4.20% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in JAZZ. Fuller & Thaler Asset Management Inc. lifted its holdings in Jazz Pharmaceuticals by 117.4% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 939,351 shares of the specialty pharmaceutical company’s stock worth $115,681,000 after purchasing an additional 507,234 shares in the last quarter. Nuveen LLC purchased a new position in Jazz Pharmaceuticals in the 1st quarter worth approximately $62,362,000. Darwin Global Management Ltd. purchased a new position in Jazz Pharmaceuticals in the 4th quarter worth approximately $59,668,000. Perpetual Ltd lifted its holdings in Jazz Pharmaceuticals by 60.2% in the 1st quarter. Perpetual Ltd now owns 952,172 shares of the specialty pharmaceutical company’s stock worth $118,212,000 after purchasing an additional 357,784 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in Jazz Pharmaceuticals by 18.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,035,070 shares of the specialty pharmaceutical company’s stock worth $250,619,000 after purchasing an additional 320,724 shares in the last quarter. 89.14% of the stock is owned by hedge funds and other institutional investors.

About Jazz Pharmaceuticals

Jazz Pharmaceuticals plc identifies, develops, and commercializes pharmaceutical products for unmet medical needs in the United States, Europe, and internationally. The company offers Xywav for cataplexy or excessive daytime sleepiness (EDS) with narcolepsy and idiopathic hypersomnia; Xyrem to treat cataplexy or EDS with narcolepsy; Epidiolex for seizures associated with Lennox-Gastaut and Dravet syndromes, or tuberous sclerosis complex; Zepzelca to treat metastatic small cell lung cancer, or with disease progression on or after platinum-based chemotherapy; Rylaze for acute lymphoblastic leukemia or lymphoblastic lymphoma; Enrylaze to treat acute lymphoblastic leukemia and lymphoblastic lymphoma; Defitelio to treat severe hepatic veno-occlusive disease; and Vyxeos for newly-diagnosed therapy-related acute myeloid leukemia.