Jazz Pharmaceuticals (NASDAQ:JAZZ) Upgraded at Canaccord Genuity Group

Canaccord Genuity Group upgraded shares of Jazz Pharmaceuticals (NASDAQ:JAZZ) to a strong-buy rating in a research note published on Thursday,Zacks.com reports.

Several other equities research analysts have also issued reports on JAZZ. Weiss Ratings upgraded Jazz Pharmaceuticals from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, June 29th. Robert W. Baird set a $252.00 price objective on Jazz Pharmaceuticals in a report on Wednesday, May 6th. Barclays raised their price objective on shares of Jazz Pharmaceuticals from $253.00 to $260.00 and gave the company an “overweight” rating in a research report on Tuesday. Sanford C. Bernstein reissued a “market perform” rating on shares of Jazz Pharmaceuticals in a research report on Tuesday, June 9th. Finally, Truist Financial dropped their price target on shares of Jazz Pharmaceuticals from $256.00 to $254.00 and set a “buy” rating on the stock in a research note on Tuesday, July 7th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $256.44.

Jazz Pharmaceuticals Stock Performance

Shares of JAZZ stock opened at $247.53 on Thursday. The company has a market cap of $15.55 billion, a PE ratio of -12,370.31, a P/E/G ratio of 0.22 and a beta of 0.32. The company has a current ratio of 2.04, a quick ratio of 1.85 and a debt-to-equity ratio of 0.95. The company’s fifty day simple moving average is $235.11 and its 200-day simple moving average is $200.42. Jazz Pharmaceuticals has a 52 week low of $105.00 and a 52 week high of $250.49.

Jazz Pharmaceuticals (NASDAQ:JAZZ) last announced its quarterly earnings data on Tuesday, March 31st. The specialty pharmaceutical company reported $6.34 earnings per share (EPS) for the quarter. Jazz Pharmaceuticals had a return on equity of 14.56% and a net margin of 0.66%.The business had revenue of $1.07 billion during the quarter. As a group, equities research analysts anticipate that Jazz Pharmaceuticals will post 21.9 EPS for the current year.

Insider Transactions at Jazz Pharmaceuticals

In other Jazz Pharmaceuticals news, Director Rick E. Winningham sold 2,741 shares of the stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $241.57, for a total transaction of $662,143.37. Following the transaction, the director owned 9,567 shares in the company, valued at $2,311,100.19. This trade represents a 22.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Neena M. Patil sold 1,200 shares of Jazz Pharmaceuticals stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $231.83, for a total transaction of $278,196.00. Following the completion of the transaction, the executive vice president directly owned 51,549 shares in the company, valued at approximately $11,950,604.67. This represents a 2.27% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 13,098 shares of company stock worth $3,131,906. 4.10% of the stock is currently owned by company insiders.

Institutional Trading of Jazz Pharmaceuticals

Several large investors have recently modified their holdings of JAZZ. Royal Bank of Canada lifted its position in Jazz Pharmaceuticals by 96.5% during the 1st quarter. Royal Bank of Canada now owns 67,614 shares of the specialty pharmaceutical company’s stock worth $8,394,000 after acquiring an additional 33,210 shares during the last quarter. Goldman Sachs Group Inc. grew its position in shares of Jazz Pharmaceuticals by 147.7% in the first quarter. Goldman Sachs Group Inc. now owns 351,609 shares of the specialty pharmaceutical company’s stock valued at $43,652,000 after purchasing an additional 209,667 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Jazz Pharmaceuticals by 4.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 197,174 shares of the specialty pharmaceutical company’s stock worth $24,479,000 after purchasing an additional 7,954 shares during the period. Focus Partners Wealth increased its stake in shares of Jazz Pharmaceuticals by 3.4% in the first quarter. Focus Partners Wealth now owns 4,623 shares of the specialty pharmaceutical company’s stock worth $574,000 after purchasing an additional 154 shares during the period. Finally, Geneos Wealth Management Inc. lifted its position in shares of Jazz Pharmaceuticals by 57.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 375 shares of the specialty pharmaceutical company’s stock worth $47,000 after purchasing an additional 137 shares during the last quarter. 89.14% of the stock is 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.