Truist Financial Forecasts Strong Price Appreciation for Jazz Pharmaceuticals (NASDAQ:JAZZ) Stock

Jazz Pharmaceuticals (NASDAQ:JAZZ) had its target price increased by research analysts at Truist Financial from $220.00 to $230.00 in a report issued on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the specialty pharmaceutical company’s stock. Truist Financial’s price target would suggest a potential upside of 42.16% from the company’s current price.

JAZZ has been the topic of a number of other reports. Royal Bank Of Canada set a $194.00 price target on shares of Jazz Pharmaceuticals and gave the stock an “outperform” rating in a research report on Monday, November 17th. Robert W. Baird raised their target price on shares of Jazz Pharmaceuticals from $160.00 to $209.00 and gave the stock an “outperform” rating in a report on Tuesday, November 18th. Morgan Stanley reaffirmed an “overweight” rating and set a $225.00 target price on shares of Jazz Pharmaceuticals in a report on Thursday. Needham & Company LLC raised their price target on Jazz Pharmaceuticals from $210.00 to $235.00 and gave the stock a “buy” rating in a report on Monday. Finally, Wells Fargo & Company raised their target price on Jazz Pharmaceuticals from $170.00 to $235.00 and gave the company an “overweight” rating in a research note on Tuesday, November 18th. Thirteen analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Jazz Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus price target of $205.67.

Jazz Pharmaceuticals Stock Up 0.4%

NASDAQ JAZZ traded up $0.66 on Monday, hitting $161.79. 274,212 shares of the stock traded hands, compared to its average volume of 1,470,792. The company has a current ratio of 1.65, a quick ratio of 1.44 and a debt-to-equity ratio of 1.09. The stock has a 50-day moving average of $163.84 and a 200 day moving average of $137.86. Jazz Pharmaceuticals has a twelve month low of $95.49 and a twelve month high of $182.99. The company has a market capitalization of $9.83 billion, a P/E ratio of -26.59, a price-to-earnings-growth ratio of 0.75 and a beta of 0.27.

Insiders Place Their Bets

In related news, Director Heather Ann Mcsharry sold 3,415 shares of the firm’s stock in a transaction on Thursday, November 20th. The stock was sold at an average price of $177.78, for a total value of $607,118.70. Following the completion of the transaction, the director directly owned 20,449 shares of the company’s stock, valued at $3,635,423.22. This trade represents a 14.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Rick E. Winningham sold 5,500 shares of the firm’s stock in a transaction dated Tuesday, November 18th. The stock was sold at an average price of $180.86, for a total transaction of $994,730.00. Following the transaction, the director owned 8,893 shares of the company’s stock, valued at approximately $1,608,387.98. This represents a 38.21% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 123,791 shares of company stock valued at $21,991,850 in the last quarter. 4.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Jazz Pharmaceuticals

Hedge funds have recently made changes to their positions in the company. Farther Finance Advisors LLC raised its position in shares of Jazz Pharmaceuticals by 754.8% during the 3rd quarter. Farther Finance Advisors LLC now owns 265 shares of the specialty pharmaceutical company’s stock valued at $35,000 after acquiring an additional 234 shares during the last quarter. Hilltop National Bank bought a new position in Jazz Pharmaceuticals during the 4th quarter worth about $36,000. Hantz Financial Services Inc. raised its stake in shares of Jazz Pharmaceuticals by 471.4% in the 2nd quarter. Hantz Financial Services Inc. now owns 360 shares of the specialty pharmaceutical company’s stock valued at $38,000 after purchasing an additional 297 shares during the period. Danske Bank A S bought a new stake in shares of Jazz Pharmaceuticals in the third quarter valued at about $40,000. Finally, Quent Capital LLC acquired a new position in shares of Jazz Pharmaceuticals during the third quarter worth about $44,000. Institutional investors and hedge funds own 89.14% of the company’s stock.

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.