Truist Financial Upgrades Jazz Pharmaceuticals (NASDAQ:JAZZ) to “Strong-Buy”

Jazz Pharmaceuticals (NASDAQ:JAZZ) was upgraded by investment analysts at Truist Financial to a “strong-buy” rating in a note issued to investors on Wednesday,Zacks.com reports.

JAZZ has been the topic of several other research reports. TD Cowen restated a “buy” rating on shares of Jazz Pharmaceuticals in a research report on Thursday, January 29th. Needham & Company LLC upped their price objective on shares of Jazz Pharmaceuticals from $210.00 to $235.00 and gave the stock a “buy” rating in a research report on Monday, January 12th. Royal Bank Of Canada increased their target price on shares of Jazz Pharmaceuticals from $191.00 to $195.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 25th. Wells Fargo & Company raised their target price on Jazz Pharmaceuticals from $235.00 to $250.00 and gave the company an “overweight” rating in a research report on Wednesday, February 25th. Finally, Bank of America lifted their price target on Jazz Pharmaceuticals from $263.00 to $275.00 and gave the company a “buy” rating in a research note on Wednesday, February 25th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $215.38.

Jazz Pharmaceuticals Trading Up 0.0%

Jazz Pharmaceuticals stock opened at $189.15 on Wednesday. The company has a current ratio of 1.86, a quick ratio of 1.67 and a debt-to-equity ratio of 1.00. Jazz Pharmaceuticals has a 12 month low of $95.49 and a 12 month high of $198.00. The stock’s 50 day simple moving average is $175.36 and its two-hundred day simple moving average is $159.47. The firm has a market cap of $11.64 billion, a PE ratio of -31.68, a P/E/G ratio of 0.34 and a beta of 0.22.

Jazz Pharmaceuticals (NASDAQ:JAZZ) last posted its 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 during the quarter, compared to analyst estimates of $1.17 billion. During the same period in the previous year, the firm earned $6.51 EPS. The business’s quarterly revenue was up 8.1% on a year-over-year basis. Analysts anticipate that Jazz Pharmaceuticals will post 16.96 earnings per share for the current year.

Insider Activity at Jazz Pharmaceuticals

In other Jazz Pharmaceuticals news, CAO Patricia Carr sold 1,287 shares of the stock in a transaction on Monday, March 9th. The shares were sold at an average price of $182.94, for a total transaction of $235,443.78. Following the transaction, the chief accounting officer directly owned 6,512 shares of the company’s stock, valued at $1,191,305.28. This trade represents a 16.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Mary Elizabeth Henderson sold 5,343 shares of Jazz Pharmaceuticals stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $194.49, for a total transaction of $1,039,160.07. Following the completion of the sale, the senior vice president owned 28,728 shares in the company, valued at approximately $5,587,308.72. This trade represents a 15.68% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 68,015 shares of company stock valued at $13,037,486. Insiders own 4.30% of the company’s stock.

Institutional Investors Weigh In On Jazz Pharmaceuticals

Several institutional investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP lifted its position in shares of Jazz Pharmaceuticals by 11.8% in the third quarter. Dimensional Fund Advisors LP now owns 2,836,652 shares of the specialty pharmaceutical company’s stock valued at $373,855,000 after acquiring an additional 298,815 shares in the last quarter. Capital World Investors increased its position in shares of Jazz Pharmaceuticals by 4.4% during the fourth quarter. Capital World Investors now owns 2,666,602 shares of the specialty pharmaceutical company’s stock worth $453,322,000 after purchasing an additional 111,735 shares in the last quarter. Ameriprise Financial Inc. raised its stake in Jazz Pharmaceuticals by 11.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,867,399 shares of the specialty pharmaceutical company’s stock valued at $198,159,000 after purchasing an additional 191,637 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Jazz Pharmaceuticals by 8.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,867,159 shares of the specialty pharmaceutical company’s stock valued at $246,092,000 after purchasing an additional 145,865 shares during the last quarter. Finally, Franklin Resources Inc. lifted its holdings in Jazz Pharmaceuticals by 164.0% in the 4th 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 in the last quarter. 89.14% of the stock is currently owned by institutional investors and hedge funds.

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.