Jazz Pharmaceuticals (NASDAQ:JAZZ) Price Target Raised to $301.00

Jazz Pharmaceuticals (NASDAQ:JAZZ) had its price objective lifted by investment analysts at Piper Sandler from $232.00 to $301.00 in a report released on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the specialty pharmaceutical company’s stock. Piper Sandler’s price target would suggest a potential upside of 25.73% from the stock’s previous close.

A number of other equities analysts have also recently weighed in on JAZZ. Robert W. Baird set a $252.00 price objective on shares of Jazz Pharmaceuticals in a research report on Wednesday, May 6th. Morgan Stanley reiterated an “overweight” rating and issued a $245.00 target price on shares of Jazz Pharmaceuticals in a research report on Thursday, May 7th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Jazz Pharmaceuticals in a research note on Friday, March 27th. UBS Group upgraded Jazz Pharmaceuticals from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $188.00 to $307.00 in a research note on Tuesday. Finally, Truist Financial upgraded Jazz Pharmaceuticals to a “strong-buy” rating in a research note on Wednesday, March 25th. One investment 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. According to MarketBeat, Jazz Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average target price of $241.53.

Jazz Pharmaceuticals Stock Up 0.2%

JAZZ opened at $239.40 on Friday. Jazz Pharmaceuticals has a fifty-two week low of $105.00 and a fifty-two week high of $242.18. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.85 and a current ratio of 2.04. The stock has a market capitalization of $15.02 billion, a price-to-earnings ratio of -11,964.02, a PEG ratio of 0.43 and a beta of 0.27. The company has a fifty day moving average of $201.35 and a two-hundred day moving average of $179.57.

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

Insiders Place Their Bets

In other news, CAO Patricia Carr sold 1,287 shares of the company’s stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $182.94, for a total value of $235,443.78. Following the completion of the sale, the chief accounting officer directly owned 6,512 shares in the company, valued at $1,191,305.28. This represents a 16.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Norbert G. Riedel sold 3,415 shares of Jazz Pharmaceuticals stock in a transaction that occurred on Friday, February 27th. The stock was sold at an average price of $192.00, for a total value of $655,680.00. Following the transaction, the director owned 7,024 shares in the company, valued at approximately $1,348,608. The trade was a 32.71% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 74,015 shares of company stock valued at $14,180,486. Insiders own 4.30% of the company’s stock.

Institutional Trading of Jazz Pharmaceuticals

Several institutional investors have recently made changes to their positions in JAZZ. Bank of America Corp DE grew its holdings 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 worth $191,848,000 after purchasing an additional 99,656 shares during the period. Tri Locum Partners LP purchased a new position in shares of Jazz Pharmaceuticals during the first quarter worth $29,995,000. Amundi grew its stake in shares of Jazz Pharmaceuticals by 2,445.3% in the first 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 raised its holdings in shares of Jazz Pharmaceuticals by 94.6% in 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 during the period. Finally, California State Teachers Retirement System raised its holdings in shares of Jazz Pharmaceuticals by 22.0% in 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 during the period. 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.