Jazz Pharmaceuticals (NASDAQ:JAZZ) Stock Rating Upgraded by Canaccord Genuity Group

Jazz Pharmaceuticals (NASDAQ:JAZZ) was upgraded by stock analysts at Canaccord Genuity Group to a “strong-buy” rating in a research report issued to clients and investors on Thursday,Zacks.com reports.

Several other research analysts have also recently issued reports on JAZZ. Morgan Stanley restated an “overweight” rating and issued a $245.00 price objective on shares of Jazz Pharmaceuticals in a research note on Thursday, May 7th. Piper Sandler upped their target price on Jazz Pharmaceuticals from $232.00 to $301.00 and gave the company an “overweight” rating in a research report on Friday, May 22nd. TD Cowen increased their price target on shares of Jazz Pharmaceuticals from $220.00 to $275.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Raymond James Financial reiterated an “outperform” rating and issued a $239.00 price target on shares of Jazz Pharmaceuticals in a report on Wednesday, May 6th. Finally, 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 research report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $256.44.

Jazz Pharmaceuticals Stock Performance

Shares of JAZZ opened at $247.53 on Thursday. Jazz Pharmaceuticals has a 12 month low of $105.00 and a 12 month high of $250.49. The stock has a fifty day moving average price of $235.11 and a 200-day moving average price of $200.42. The company has a current ratio of 2.04, a quick ratio of 1.85 and a debt-to-equity ratio of 0.95. The firm has a market cap of $15.55 billion, a PE ratio of -12,370.31, a P/E/G ratio of 0.21 and a beta of 0.32.

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

Insider Buying and Selling at Jazz Pharmaceuticals

In other news, Director Heather Ann Mcsharry sold 2,000 shares of Jazz Pharmaceuticals stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $241.00, for a total transaction of $482,000.00. Following the completion of the transaction, the director directly owned 18,449 shares of the company’s stock, valued at $4,446,209. The trade was a 9.78% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Bruce C. Cozadd sold 6,000 shares of the business’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $240.47, for a total transaction of $1,442,820.00. Following the completion of the transaction, the director owned 366,682 shares of the company’s stock, valued at approximately $88,176,020.54. This represents a 1.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 13,098 shares of company stock worth $3,131,906. 4.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of JAZZ. Capital World Investors grew its position in shares of Jazz Pharmaceuticals by 4.4% during the 4th quarter. Capital World Investors now owns 2,666,602 shares of the specialty pharmaceutical company’s stock valued at $453,322,000 after acquiring an additional 111,735 shares during the period. Ameriprise Financial Inc. raised its holdings in Jazz Pharmaceuticals by 11.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,867,399 shares of the specialty pharmaceutical company’s stock worth $198,159,000 after purchasing an additional 191,637 shares during the period. Franklin Resources Inc. boosted its position in Jazz Pharmaceuticals by 164.0% during the fourth quarter. Franklin Resources Inc. now owns 1,818,911 shares of the specialty pharmaceutical company’s stock worth $309,215,000 after purchasing an additional 1,129,995 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in Jazz Pharmaceuticals by 44.5% in the first quarter. Bank of New York Mellon Corp now owns 1,679,371 shares of the specialty pharmaceutical company’s stock valued at $317,485,000 after purchasing an additional 517,514 shares during the period. Finally, Fuller & Thaler Asset Management Inc. grew its holdings in Jazz Pharmaceuticals by 3.1% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 1,677,132 shares of the specialty pharmaceutical company’s stock valued at $285,113,000 after purchasing an additional 50,996 shares during the period. Institutional investors and hedge funds own 89.14% of the company’s stock.

Jazz Pharmaceuticals Company Profile

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.