Piper Sandler Issues Positive Forecast for Jazz Pharmaceuticals (NASDAQ:JAZZ) Stock Price

Jazz Pharmaceuticals (NASDAQ:JAZZ) had its target price increased by Piper Sandler from $219.00 to $232.00 in a research report released on Thursday morning,Benzinga reports. The firm currently has an overweight rating on the specialty pharmaceutical company’s stock.

JAZZ has been the topic of several other reports. Morgan Stanley boosted their target price on Jazz Pharmaceuticals from $225.00 to $226.00 and gave the company an “overweight” rating in a research note on Wednesday, February 25th. UBS Group reiterated a “neutral” rating and issued a $188.00 target price (up from $163.00) on shares of Jazz Pharmaceuticals in a research note on Monday, November 24th. Bank of America boosted their target price 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. Barclays reaffirmed an “overweight” rating and issued a $224.00 price target on shares of Jazz Pharmaceuticals in a report on Monday, March 9th. Finally, Truist Financial lifted their price target on Jazz Pharmaceuticals from $220.00 to $230.00 and gave the company a “buy” rating in a research report on Monday, January 12th. Thirteen investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Jazz Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average price target of $215.38.

Jazz Pharmaceuticals Price Performance

JAZZ opened at $181.80 on Thursday. Jazz Pharmaceuticals has a fifty-two week low of $95.49 and a fifty-two week high of $198.00. The firm has a 50-day moving average of $173.42 and a 200 day moving average of $157.53. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.67 and a current ratio of 1.86. The firm has a market cap of $11.19 billion, a P/E ratio of -30.45, a PEG ratio of 0.33 and a beta of 0.22.

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

Insiders Place Their Bets

In other Jazz Pharmaceuticals news, EVP Neena M. Patil sold 55,600 shares of the company’s stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $191.56, for a total value of $10,650,736.00. Following the transaction, the executive vice president directly owned 56,862 shares in the company, valued at $10,892,484.72. This represents a 49.44% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Norbert G. Riedel sold 3,415 shares of the firm’s stock in a transaction dated Friday, February 27th. The shares were sold at an average price of $192.00, for a total value of $655,680.00. Following the completion of the sale, the director directly owned 7,024 shares in the company, valued at approximately $1,348,608. The trade was a 32.71% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 68,015 shares of company stock valued at $13,037,486 in the last ninety days. Corporate insiders own 4.30% of the company’s stock.

Institutional Investors Weigh In On Jazz Pharmaceuticals

Hedge funds have recently bought and sold shares of the stock. Corient Private Wealth LLC increased its holdings in shares of Jazz Pharmaceuticals by 91.1% in the 4th quarter. Corient Private Wealth LLC now owns 10,200 shares of the specialty pharmaceutical company’s stock worth $1,734,000 after buying an additional 4,863 shares during the last quarter. DGS Capital Management LLC purchased a new stake in shares of Jazz Pharmaceuticals during the 4th quarter valued at $260,000. Pacer Advisors Inc. lifted its holdings in shares of Jazz Pharmaceuticals by 19.8% during the 4th quarter. Pacer Advisors Inc. now owns 647,084 shares of the specialty pharmaceutical company’s stock worth $110,004,000 after acquiring an additional 107,144 shares during the last quarter. Kera Capital Partners Inc. bought a new position in Jazz Pharmaceuticals in the fourth quarter valued at $336,000. Finally, Dean Capital Management lifted its stake in Jazz Pharmaceuticals by 3.2% during the fourth quarter. Dean Capital Management now owns 21,158 shares of the specialty pharmaceutical company’s stock worth $3,597,000 after purchasing an additional 654 shares during the last quarter. 89.14% of the stock is currently owned by institutional investors.

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.