Barclays Begins Coverage on Jazz Pharmaceuticals (NASDAQ:JAZZ)

Equities research analysts at Barclays assumed coverage on shares of Jazz Pharmaceuticals (NASDAQ:JAZZ) in a report released on Friday, Marketbeat Ratings reports. The firm set an “overweight” rating and a $224.00 price target on the specialty pharmaceutical company’s stock. Barclays‘s target price would indicate a potential upside of 17.88% from the stock’s previous close.

Several other analysts also recently issued reports on JAZZ. Robert W. Baird boosted their price target on Jazz Pharmaceuticals from $160.00 to $209.00 and gave the company an “outperform” rating in a research note on Tuesday, November 18th. Wells Fargo & Company lifted their target price on Jazz Pharmaceuticals from $235.00 to $250.00 and gave the stock an “overweight” rating in a report on Wednesday. Weiss Ratings reissued a “sell (d+)” rating on shares of Jazz Pharmaceuticals in a research report on Monday, December 29th. Morgan Stanley upped their price target on shares of Jazz Pharmaceuticals from $225.00 to $226.00 and gave the company an “overweight” rating in a research note on Wednesday. Finally, UBS Group reaffirmed a “neutral” rating and set a $188.00 price target (up from $163.00) on shares of Jazz Pharmaceuticals in a research report on Monday, November 24th. Fourteen analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $214.57.

Jazz Pharmaceuticals Stock Performance

Shares of JAZZ stock opened at $190.02 on Friday. Jazz Pharmaceuticals has a 52 week low of $95.49 and a 52 week high of $198.00. The company has a market capitalization of $11.70 billion, a price-to-earnings ratio of -31.83, a PEG ratio of 0.36 and a beta of 0.26. The company has a 50-day simple moving average of $169.64 and a 200 day simple moving average of $151.68. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.44 and a current ratio of 1.86.

Jazz Pharmaceuticals (NASDAQ:JAZZ) last released its quarterly earnings results on Tuesday, February 24th. The specialty pharmaceutical company reported $6.64 earnings per share for the quarter, beating the consensus estimate of $6.49 by $0.15. Jazz Pharmaceuticals had a negative net margin of 8.35% and a positive return on equity of 6.87%. The firm had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.17 billion. During the same period in the prior year, the firm earned $6.51 EPS. The business’s revenue was up 8.1% on a year-over-year basis. On average, sell-side analysts predict that Jazz Pharmaceuticals will post 16.96 earnings per share for the current year.

Insider Transactions at Jazz Pharmaceuticals

In other news, SVP Mary Elizabeth Henderson sold 2,238 shares of the company’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 represents a 10.29% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Patricia Carr sold 4,660 shares of the stock in a transaction that occurred on Friday, December 5th. The stock was sold at an average price of $171.20, for a total transaction of $797,792.00. Following the sale, the chief accounting officer owned 7,012 shares in the company, valued at $1,200,454.40. This represents a 39.92% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 4.30% of the company’s stock.

Institutional Investors Weigh In On Jazz Pharmaceuticals

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Farther Finance Advisors LLC increased its stake in shares of Jazz Pharmaceuticals by 754.8% in the 3rd quarter. Farther Finance Advisors LLC now owns 265 shares of the specialty pharmaceutical company’s stock valued at $35,000 after purchasing an additional 234 shares during the last quarter. Hilltop National Bank acquired a new stake in Jazz Pharmaceuticals in the fourth quarter valued at about $36,000. Hantz Financial Services Inc. grew its position in Jazz Pharmaceuticals by 471.4% in the second quarter. Hantz Financial Services Inc. now owns 360 shares of the specialty pharmaceutical company’s stock valued at $38,000 after acquiring an additional 297 shares during the last quarter. LRI Investments LLC bought a new position in Jazz Pharmaceuticals in the fourth quarter valued at about $38,000. Finally, Danske Bank A S acquired a new position in Jazz Pharmaceuticals during the third quarter worth about $40,000. 89.14% of the stock is currently owned by institutional investors.

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.