Jazz Pharmaceuticals (NASDAQ:JAZZ) Upgraded at Truist Financial

Jazz Pharmaceuticals (NASDAQ:JAZZ) was upgraded by Truist Financial to a “strong-buy” rating in a research note issued to investors on Wednesday,Zacks.com reports.

A number of other equities research analysts have also issued reports on the stock. TD Cowen reaffirmed a “buy” rating on shares of Jazz Pharmaceuticals in a report on Thursday, January 29th. Morgan Stanley boosted their price target on shares of Jazz Pharmaceuticals from $225.00 to $226.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 25th. Needham & Company LLC increased their price objective on shares of Jazz Pharmaceuticals from $210.00 to $235.00 and gave the company a “buy” rating in a report on Monday, January 12th. Wells Fargo & Company increased their price objective on shares of Jazz Pharmaceuticals from $235.00 to $250.00 and gave the company an “overweight” rating in a report on Wednesday, February 25th. Finally, Bank of America boosted their target price on Jazz Pharmaceuticals from $263.00 to $275.00 and gave the stock a “buy” rating in a report on Wednesday, February 25th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $215.38.

Jazz Pharmaceuticals Price Performance

Shares of Jazz Pharmaceuticals stock opened at $189.08 on Wednesday. The business has a 50 day simple moving average of $175.00 and a two-hundred day simple moving average of $159.26. Jazz Pharmaceuticals has a 12 month low of $95.49 and a 12 month high of $198.00. The stock has a market capitalization of $11.64 billion, a P/E ratio of -31.67, a PEG ratio of 0.33 and a beta of 0.22. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.86 and a quick ratio of 1.67.

Jazz Pharmaceuticals (NASDAQ:JAZZ) last issued its quarterly earnings results on Tuesday, February 24th. The specialty pharmaceutical company reported $6.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.49 by $0.15. Jazz Pharmaceuticals had a positive return on equity of 6.87% and a negative net margin of 8.35%.The firm had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same period in the previous year, the company posted $6.51 earnings per share. The business’s revenue was up 8.1% on a year-over-year basis. As a group, analysts predict that Jazz Pharmaceuticals will post 16.96 EPS for the current fiscal year.

Insider Activity

In other Jazz Pharmaceuticals news, SVP Mary Elizabeth Henderson sold 5,343 shares of Jazz Pharmaceuticals stock in a transaction dated 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 transaction, the senior vice president directly owned 28,728 shares of the company’s stock, valued at $5,587,308.72. The trade was a 15.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Norbert G. Riedel sold 3,415 shares of the business’s stock in a transaction dated Friday, February 27th. The shares were sold at an average price of $192.00, for a total transaction of $655,680.00. Following the completion of the transaction, the director owned 7,024 shares in the company, valued at $1,348,608. The trade was a 32.71% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 68,015 shares of company stock worth $13,037,486. 4.30% of the stock is owned by insiders.

Institutional Trading of Jazz Pharmaceuticals

Hedge funds have recently made changes to their positions in the company. Hsbc Holdings PLC acquired a new stake in shares of Jazz Pharmaceuticals during the 4th quarter worth approximately $858,000. Corient Private Wealth LLC lifted its holdings in Jazz Pharmaceuticals by 91.1% in the fourth quarter. Corient Private Wealth LLC now owns 10,200 shares of the specialty pharmaceutical company’s stock valued at $1,734,000 after acquiring an additional 4,863 shares during the last quarter. DGS Capital Management LLC acquired a new position in Jazz Pharmaceuticals in the fourth quarter valued at approximately $260,000. Pacer Advisors Inc. grew its position in Jazz Pharmaceuticals by 19.8% in the fourth quarter. Pacer Advisors Inc. now owns 647,084 shares of the specialty pharmaceutical company’s stock worth $110,004,000 after acquiring an additional 107,144 shares during the period. Finally, Kera Capital Partners Inc. purchased a new position in Jazz Pharmaceuticals in the fourth quarter worth approximately $336,000. Hedge funds and other institutional investors 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.