Jazz Pharmaceuticals (NASDAQ:JAZZ) Sets New 12-Month High on Analyst Upgrade

Jazz Pharmaceuticals PLC (NASDAQ:JAZZ)’s stock price reached a new 52-week high on Tuesday after Needham & Company LLC raised their price target on the stock from $255.00 to $282.00. Needham & Company LLC currently has a buy rating on the stock. Jazz Pharmaceuticals traded as high as $250.85 and last traded at $250.4050, with a volume of 166153 shares trading hands. The stock had previously closed at $243.47.

A number of other research firms have also commented on JAZZ. Canaccord Genuity Group began coverage on shares of Jazz Pharmaceuticals in a report on Thursday, July 16th. They set a “buy” rating and a $290.00 price target for the company. Barclays raised their price target on shares of Jazz Pharmaceuticals from $253.00 to $260.00 and gave the stock an “overweight” rating in a report on Tuesday, July 14th. Sanford C. Bernstein restated a “market perform” rating on shares of Jazz Pharmaceuticals in a research report on Tuesday, June 9th. TD Cowen upped their price objective on shares of Jazz Pharmaceuticals from $220.00 to $275.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Finally, Bank of America increased their target price on shares of Jazz Pharmaceuticals from $281.00 to $307.00 and gave the stock a “buy” rating in a report on Wednesday, June 10th. 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 company’s stock. According to MarketBeat, Jazz Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus target price of $259.06.

Insider Buying and Selling

In other Jazz Pharmaceuticals news, EVP Neena M. Patil sold 1,200 shares of the company’s stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $231.83, for a total value 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Rick E. Winningham sold 2,741 shares of the company’s stock in a transaction 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 completion of the transaction, the director owned 9,567 shares of the company’s stock, valued at $2,311,100.19. This trade represents a 22.27% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 13,098 shares of company stock valued at $3,131,906 over the last three months. Insiders own 4.10% of the company’s stock.

Hedge Funds Weigh In On Jazz Pharmaceuticals

A number of institutional investors have recently bought and sold shares of JAZZ. LRI Investments LLC bought a new stake in Jazz Pharmaceuticals during the 4th quarter valued at approximately $38,000. Danske Bank A S bought a new position in shares of Jazz Pharmaceuticals in the 3rd quarter worth approximately $40,000. Geneos Wealth Management Inc. raised its position in shares of Jazz Pharmaceuticals by 57.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 375 shares of the specialty pharmaceutical company’s stock worth $47,000 after acquiring an additional 137 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its stake in shares of Jazz Pharmaceuticals by 1,383.3% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 356 shares of the specialty pharmaceutical company’s stock valued at $47,000 after purchasing an additional 332 shares during the period. Finally, Leonteq Securities AG purchased a new position in shares of Jazz Pharmaceuticals in the 4th quarter valued at approximately $50,000. 89.14% of the stock is owned by institutional investors.

Jazz Pharmaceuticals Stock Up 4.4%

The company has a quick ratio of 1.85, a current ratio of 2.04 and a debt-to-equity ratio of 0.95. The company has a market capitalization of $15.97 billion, a P/E ratio of -12,704.65, a price-to-earnings-growth ratio of 0.21 and a beta of 0.32. The company has a 50-day moving average of $236.03 and a two-hundred day moving average of $201.74.

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

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.