Jazz Pharmaceuticals (NASDAQ:JAZZ) Sees Unusually-High Trading Volume Following Analyst Upgrade

Shares of Jazz Pharmaceuticals plc (NASDAQ:JAZZ) saw an uptick in trading volume on Wednesday after JPMorgan Chase & Co. raised their price target on the stock from $200.00 to $209.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. 1,787,968 shares were traded during mid-day trading, an increase of 167% from the previous session’s volume of 669,349 shares.The stock last traded at $144.26 and had previously closed at $139.67.

Several other equities analysts have also recently issued reports on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $179.00 target price on shares of Jazz Pharmaceuticals in a research note on Tuesday, December 10th. Needham & Company LLC increased their target price on shares of Jazz Pharmaceuticals from $205.00 to $210.00 and gave the stock a “buy” rating in a report on Wednesday. HC Wainwright reiterated a “buy” rating and set a $200.00 price target on shares of Jazz Pharmaceuticals in a research note on Friday, November 22nd. TD Cowen cut their price target on Jazz Pharmaceuticals from $200.00 to $195.00 and set a “buy” rating for the company in a research note on Thursday, November 7th. Finally, Wells Fargo & Company upgraded shares of Jazz Pharmaceuticals from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $130.00 to $170.00 in a report on Thursday, February 13th. Two equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $181.80.

Insider Activity at Jazz Pharmaceuticals

In other news, CEO Bruce C. Cozadd sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $121.17, for a total value of $242,340.00. Following the completion of the sale, the chief executive officer now directly owns 427,025 shares of the company’s stock, valued at $51,742,619.25. This trade represents a 0.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders sold a total of 5,053 shares of company stock worth $617,442 in the last quarter. Corporate insiders own 4.20% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Bessemer Group Inc. lifted its holdings in Jazz Pharmaceuticals by 0.3% during the 4th quarter. Bessemer Group Inc. now owns 26,932 shares of the specialty pharmaceutical company’s stock worth $3,317,000 after buying an additional 92 shares during the period. CIBC Asset Management Inc grew its stake in shares of Jazz Pharmaceuticals by 5.2% in the 4th quarter. CIBC Asset Management Inc now owns 1,972 shares of the specialty pharmaceutical company’s stock worth $243,000 after acquiring an additional 97 shares in the last quarter. Synovus Financial Corp grew its holdings in shares of Jazz Pharmaceuticals by 0.5% in the fourth quarter. Synovus Financial Corp now owns 19,206 shares of the specialty pharmaceutical company’s stock valued at $2,365,000 after acquiring an additional 100 shares in the last quarter. Quarry LP raised its holdings in shares of Jazz Pharmaceuticals by 6.3% in the 4th quarter. Quarry LP now owns 1,700 shares of the specialty pharmaceutical company’s stock worth $209,000 after purchasing an additional 100 shares during the period. Finally, Quadrant Capital Group LLC boosted its holdings in Jazz Pharmaceuticals by 97.1% in the 4th quarter. Quadrant Capital Group LLC now owns 205 shares of the specialty pharmaceutical company’s stock worth $25,000 after buying an additional 101 shares during the period. 89.14% of the stock is owned by institutional investors.

Jazz Pharmaceuticals Stock Performance

The stock has a market capitalization of $8.72 billion, a PE ratio of 20.36, a P/E/G ratio of 1.04 and a beta of 0.56. The business’s fifty day moving average price is $125.42 and its 200-day moving average price is $118.44. The company has a debt-to-equity ratio of 1.46, a current ratio of 4.26 and a quick ratio of 3.74.

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.