Royal Bank of Canada Cuts Jazz Pharmaceuticals (NASDAQ:JAZZ) Price Target to $178.00

Jazz Pharmaceuticals (NASDAQ:JAZZ) had its price target dropped by investment analysts at Royal Bank of Canada from $179.00 to $178.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the specialty pharmaceutical company’s stock. Royal Bank of Canada’s price target indicates a potential upside of 20.88% from the company’s current price.

A number of other brokerages also recently commented on JAZZ. Wells Fargo & Company raised shares of Jazz Pharmaceuticals from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $130.00 to $170.00 in a research note on Thursday, February 13th. Morgan Stanley upgraded Jazz Pharmaceuticals from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $140.00 to $175.00 in a research note on Thursday, December 12th. JPMorgan Chase & Co. lifted their price objective on shares of Jazz Pharmaceuticals from $200.00 to $209.00 and gave the stock an “overweight” rating in a research report on Wednesday. TD Cowen lowered their price target on shares of Jazz Pharmaceuticals from $200.00 to $195.00 and set a “buy” rating on the stock in a report on Thursday, November 7th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $200.00 price target on shares of Jazz Pharmaceuticals in a report on Friday, November 22nd. One equities research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Jazz Pharmaceuticals presently has an average rating of “Buy” and a consensus target price of $180.93.

Jazz Pharmaceuticals Stock Performance

Shares of NASDAQ JAZZ traded up $7.58 during midday trading on Wednesday, hitting $147.25. 1,017,844 shares of the company’s stock traded hands, compared to its average volume of 647,652. The company has a debt-to-equity ratio of 1.46, a quick ratio of 3.74 and a current ratio of 4.26. The stock has a market capitalization of $8.90 billion, a price-to-earnings ratio of 20.69, a price-to-earnings-growth ratio of 1.04 and a beta of 0.56. The firm has a fifty day moving average of $125.42 and a 200 day moving average of $118.44. Jazz Pharmaceuticals has a 1 year low of $99.06 and a 1 year high of $146.97.

Insider Transactions at Jazz Pharmaceuticals

In other news, CEO Bruce C. Cozadd sold 2,000 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $121.17, for a total transaction of $242,340.00. Following the sale, the chief executive officer now directly owns 427,025 shares in the company, valued at approximately $51,742,619.25. This represents a 0.47 % 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. Insiders sold 5,053 shares of company stock valued at $617,442 over the last 90 days. Corporate insiders own 4.20% of the company’s stock.

Institutional Trading of Jazz Pharmaceuticals

A number of hedge funds have recently bought and sold shares of JAZZ. Raymond James & Associates boosted its position in Jazz Pharmaceuticals by 13.3% during the 3rd quarter. Raymond James & Associates now owns 53,611 shares of the specialty pharmaceutical company’s stock worth $5,973,000 after acquiring an additional 6,293 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of Jazz Pharmaceuticals by 9.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 19,629 shares of the specialty pharmaceutical company’s stock valued at $2,187,000 after purchasing an additional 1,616 shares during the period. Private Advisor Group LLC grew its position in Jazz Pharmaceuticals by 238.6% during the 3rd quarter. Private Advisor Group LLC now owns 7,716 shares of the specialty pharmaceutical company’s stock worth $860,000 after acquiring an additional 5,437 shares during the last quarter. International Assets Investment Management LLC purchased a new stake in Jazz Pharmaceuticals during the 3rd quarter valued at about $6,703,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Jazz Pharmaceuticals by 15.1% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,476 shares of the specialty pharmaceutical company’s stock valued at $275,000 after acquiring an additional 325 shares during the period. 89.14% of the stock is owned by institutional investors.

About Jazz Pharmaceuticals

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.