Jazz Pharmaceuticals (NASDAQ:JAZZ) Price Target Cut to $205.00 by Analysts at Needham & Company LLC

Jazz Pharmaceuticals (NASDAQ:JAZZ) had its price target reduced by Needham & Company LLC from $208.00 to $205.00 in a report released on Thursday morning, Benzinga reports. Needham & Company LLC currently has a buy rating on the specialty pharmaceutical company’s stock.

Several other brokerages also recently commented on JAZZ. Robert W. Baird reduced their target price on shares of Jazz Pharmaceuticals from $160.00 to $154.00 and set an outperform rating for the company in a report on Thursday. Cantor Fitzgerald reaffirmed an overweight rating and set a $180.00 target price on shares of Jazz Pharmaceuticals in a report on Wednesday, April 10th. StockNews.com downgraded shares of Jazz Pharmaceuticals from a strong-buy rating to a buy rating in a report on Friday, July 5th. Morgan Stanley reduced their target price on shares of Jazz Pharmaceuticals from $160.00 to $150.00 and set an equal weight rating for the company in a report on Friday, July 12th. Finally, HC Wainwright reaffirmed a buy rating and set a $200.00 target price on shares of Jazz Pharmaceuticals in a report on Friday, May 3rd. Four analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Jazz Pharmaceuticals currently has an average rating of Moderate Buy and an average price target of $175.20.

Jazz Pharmaceuticals Stock Performance

Shares of JAZZ traded down $1.12 during midday trading on Thursday, reaching $113.26. The stock had a trading volume of 716,259 shares, compared to its average volume of 655,591. The firm has a 50 day simple moving average of $107.82 and a 200-day simple moving average of $114.08. Jazz Pharmaceuticals has a one year low of $99.06 and a one year high of $146.70. The firm has a market cap of $7.14 billion, a PE ratio of 23.35, a P/E/G ratio of 1.76 and a beta of 0.58. The company has a current ratio of 2.37, a quick ratio of 1.90 and a debt-to-equity ratio of 1.36.

Jazz Pharmaceuticals (NASDAQ:JAZZ) last announced its quarterly earnings data on Wednesday, May 1st. The specialty pharmaceutical company reported $1.98 EPS for the quarter, missing analysts’ consensus estimates of $3.53 by ($1.55). Jazz Pharmaceuticals had a net margin of 10.10% and a return on equity of 28.65%. The firm had revenue of $901.98 million during the quarter, compared to the consensus estimate of $938.99 million. As a group, sell-side analysts anticipate that Jazz Pharmaceuticals will post 15.31 EPS for the current year.

Hedge Funds Weigh In On Jazz Pharmaceuticals

Hedge funds and other institutional investors have recently made changes to their positions in the company. Rise Advisors LLC raised its position in shares of Jazz Pharmaceuticals by 2,255.6% in the 1st quarter. Rise Advisors LLC now owns 212 shares of the specialty pharmaceutical company’s stock valued at $26,000 after buying an additional 203 shares in the last quarter. Versant Capital Management Inc raised its position in shares of Jazz Pharmaceuticals by 13,450.0% in the 2nd quarter. Versant Capital Management Inc now owns 271 shares of the specialty pharmaceutical company’s stock valued at $29,000 after buying an additional 269 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Jazz Pharmaceuticals by 65.5% in the 2nd quarter. GAMMA Investing LLC now owns 293 shares of the specialty pharmaceutical company’s stock valued at $31,000 after buying an additional 116 shares in the last quarter. Cape Investment Advisory Inc. raised its position in shares of Jazz Pharmaceuticals by 14,600.0% in the 4th quarter. Cape Investment Advisory Inc. now owns 294 shares of the specialty pharmaceutical company’s stock valued at $36,000 after buying an additional 292 shares in the last quarter. Finally, Gladius Capital Management LP acquired a new position in shares of Jazz Pharmaceuticals in the 2nd quarter valued at approximately $33,000. 89.14% of the stock is currently owned by institutional investors and hedge funds.

Jazz Pharmaceuticals Company Profile

Jazz Pharmaceuticals plc identifies, develops, and commercializes pharmaceutical products for unmet medical needs in the United States, Europe, and internationally. The company offers Xywav for cataplexy or excessive daytime sleepiness (EDS) with narcolepsy and idiopathic hypersomnia; Xyrem to treat cataplexy or EDS with narcolepsy; Epidiolex for seizures associated with Lennox-Gastaut and Dravet syndromes, or tuberous sclerosis complex; Zepzelca to treat metastatic small cell lung cancer, or with disease progression on or after platinum-based chemotherapy; Rylaze for acute lymphoblastic leukemia or lymphoblastic lymphoma; Enrylaze to treat acute lymphoblastic leukemia and lymphoblastic lymphoma; Defitelio to treat severe hepatic veno-occlusive disease; and Vyxeos for newly-diagnosed therapy-related acute myeloid leukemia.