Sanford C. Bernstein Upgrades Jazz Pharmaceuticals (NASDAQ:JAZZ) to Hold

Jazz Pharmaceuticals (NASDAQ:JAZZ) was upgraded by Sanford C. Bernstein to a “hold” rating in a note issued to investors on Thursday,Zacks.com reports.

Other research analysts have also recently issued reports about the stock. Barclays boosted their price target on shares of Jazz Pharmaceuticals from $225.00 to $234.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. Robert W. Baird set a $252.00 price target on shares of Jazz Pharmaceuticals in a report on Wednesday, May 6th. Morgan Stanley restated an “overweight” rating and set a $245.00 price target on shares of Jazz Pharmaceuticals in a report on Thursday, May 7th. UBS Group upgraded shares of Jazz Pharmaceuticals from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $188.00 to $307.00 in a report on Tuesday. Finally, Royal Bank Of Canada boosted their price target on shares of Jazz Pharmaceuticals from $195.00 to $258.00 and gave the stock an “outperform” rating in a report on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $241.53.

Jazz Pharmaceuticals Stock Up 0.2%

Jazz Pharmaceuticals stock opened at $239.83 on Thursday. Jazz Pharmaceuticals has a fifty-two week low of $105.00 and a fifty-two week high of $243.32. The stock has a market cap of $15.05 billion, a PE ratio of -11,985.51, a price-to-earnings-growth ratio of 0.43 and a beta of 0.27. The firm’s 50-day simple moving average is $202.44 and its 200 day simple moving average is $179.99. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.85 and a current ratio of 2.04.

Jazz Pharmaceuticals (NASDAQ:JAZZ) last released its quarterly earnings results on Tuesday, March 31st. The specialty pharmaceutical company reported $6.34 earnings per share for the quarter. Jazz Pharmaceuticals had a net margin of 0.66% and a return on equity of 14.56%. The business had revenue of $1.07 billion for the quarter. Research analysts predict that Jazz Pharmaceuticals will post 20.75 EPS for the current fiscal year.

Insider Activity at Jazz Pharmaceuticals

In related news, SVP Mary Elizabeth Henderson sold 5,343 shares of the company’s stock in a transaction that occurred on 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 sale, the senior vice president directly owned 28,728 shares in the company, valued at approximately $5,587,308.72. This represents a 15.68% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Patricia Carr sold 1,287 shares of the company’s stock in a transaction that occurred 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 sale, the chief accounting officer owned 6,512 shares in the company, valued at $1,191,305.28. The trade was a 16.50% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 74,015 shares of company stock worth $14,180,486 in the last ninety days. Insiders own 4.30% of the company’s stock.

Institutional Trading of Jazz Pharmaceuticals

A number of institutional investors have recently modified their holdings of the business. Bank of America Corp DE lifted its stake in shares of Jazz Pharmaceuticals by 10.9% during the 1st quarter. Bank of America Corp DE now owns 1,014,800 shares of the specialty pharmaceutical company’s stock valued at $191,848,000 after buying an additional 99,656 shares in the last quarter. Tri Locum Partners LP purchased a new stake in shares of Jazz Pharmaceuticals during the 1st quarter valued at approximately $29,995,000. Amundi lifted its stake in shares of Jazz Pharmaceuticals by 2,445.3% during the 1st quarter. Amundi now owns 55,640 shares of the specialty pharmaceutical company’s stock valued at $10,519,000 after buying an additional 53,454 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of Jazz Pharmaceuticals by 94.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,520 shares of the specialty pharmaceutical company’s stock valued at $287,000 after buying an additional 739 shares in the last quarter. Finally, California State Teachers Retirement System lifted its stake in shares of Jazz Pharmaceuticals by 22.0% during the 1st quarter. California State Teachers Retirement System now owns 63,657 shares of the specialty pharmaceutical company’s stock valued at $12,034,000 after buying an additional 11,486 shares in the last quarter. 89.14% of the stock is currently owned by hedge funds and other institutional investors.

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.