Needham & Company LLC Issues Positive Forecast for Jazz Pharmaceuticals (NASDAQ:JAZZ) Stock Price

Jazz Pharmaceuticals (NASDAQ:JAZZ) had its target price hoisted by Needham & Company LLC from $255.00 to $282.00 in a research note released on Monday morning,Benzinga reports. The firm currently has a buy rating on the specialty pharmaceutical company’s stock.

Several other equities analysts have also weighed in on the stock. Wells Fargo & Company upped their price objective on shares of Jazz Pharmaceuticals from $265.00 to $285.00 and gave the company an “overweight” rating in a report on Tuesday, July 14th. Deutsche Bank Aktiengesellschaft raised their target price on Jazz Pharmaceuticals from $250.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday, July 9th. Truist Financial decreased their target price on Jazz Pharmaceuticals from $256.00 to $254.00 and set a “buy” rating for the company in a research report on Tuesday, July 7th. Raymond James Financial reaffirmed an “outperform” rating and set a $239.00 price target on shares of Jazz Pharmaceuticals in a research note on Wednesday, May 6th. Finally, Weiss Ratings raised Jazz Pharmaceuticals from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, June 29th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Jazz Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus target price of $259.06.

Jazz Pharmaceuticals Stock Performance

Shares of JAZZ stock opened at $243.47 on Monday. The firm has a 50 day moving average of $235.51 and a 200-day moving average of $201.15. The company has a market cap of $15.29 billion, a price-to-earnings ratio of -12,167.42, a price-to-earnings-growth ratio of 0.22 and a beta of 0.32. The company has a quick ratio of 1.85, a current ratio of 2.04 and a debt-to-equity ratio of 0.95. Jazz Pharmaceuticals has a 52 week low of $105.00 and a 52 week high of $250.49.

Jazz Pharmaceuticals (NASDAQ:JAZZ) last released its earnings results on Tuesday, March 31st. The specialty pharmaceutical company reported $6.34 earnings per share (EPS) for the quarter. The company had revenue of $1.07 billion for the quarter. Jazz Pharmaceuticals had a net margin of 0.66% and a return on equity of 14.56%. On average, equities analysts forecast that Jazz Pharmaceuticals will post 21.9 earnings per share for the current year.

Insider Activity

In related news, EVP Neena M. Patil sold 1,200 shares of the company’s stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $231.83, for a total value of $278,196.00. Following the sale, the executive vice president owned 51,549 shares in the company, valued at $11,950,604.67. This represents a 2.27% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Heather Ann Mcsharry sold 2,000 shares of the firm’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $241.00, for a total transaction of $482,000.00. Following the completion of the transaction, the director directly owned 18,449 shares in the company, valued at approximately $4,446,209. The trade was a 9.78% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 13,098 shares of company stock valued at $3,131,906. 4.10% of the stock is currently owned by insiders.

Institutional Trading of Jazz Pharmaceuticals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in JAZZ. Vestal Point Capital LP purchased a new position in Jazz Pharmaceuticals during the 2nd quarter worth $127,344,000. Franklin Resources Inc. raised its holdings in shares of Jazz Pharmaceuticals by 164.0% in the fourth quarter. Franklin Resources Inc. now owns 1,818,911 shares of the specialty pharmaceutical company’s stock valued at $309,215,000 after purchasing an additional 1,129,995 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Jazz Pharmaceuticals by 160.2% in the fourth quarter. Bank of New York Mellon Corp now owns 1,161,857 shares of the specialty pharmaceutical company’s stock valued at $197,516,000 after purchasing an additional 715,361 shares during the last quarter. Adage Capital Partners GP L.L.C. lifted its position in shares of Jazz Pharmaceuticals by 258.2% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 548,000 shares of the specialty pharmaceutical company’s stock valued at $93,160,000 after purchasing an additional 395,000 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC lifted its position in shares of Jazz Pharmaceuticals by 592.1% during the third quarter. Schonfeld Strategic Advisors LLC now owns 436,443 shares of the specialty pharmaceutical company’s stock valued at $57,523,000 after purchasing an additional 373,383 shares in the last quarter. 89.14% of the stock is 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.