Jazz Pharmaceuticals (NASDAQ:JAZZ) Reaches New 1-Year High – Should You Buy?

Jazz Pharmaceuticals PLC (NASDAQ:JAZZ) shares hit a new 52-week high during trading on Thursday . The stock traded as high as $243.81 and last traded at $243.47, with a volume of 751678 shares traded. The stock had previously closed at $237.51.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Wells Fargo & Company raised their price objective on Jazz Pharmaceuticals from $250.00 to $265.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. Bank of America upped their target price on Jazz Pharmaceuticals from $281.00 to $307.00 and gave the company a “buy” rating in a report on Wednesday, June 10th. Piper Sandler increased their target price on shares of Jazz Pharmaceuticals from $232.00 to $301.00 and gave the company an “overweight” rating in a research report on Friday, May 22nd. Truist Financial set a $256.00 price target on shares of Jazz Pharmaceuticals and gave the stock a “buy” rating in a report on Tuesday, June 9th. Finally, TD Cowen boosted their price target on shares of Jazz Pharmaceuticals from $220.00 to $275.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Sixteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $246.06.

Jazz Pharmaceuticals Stock Up 2.5%

The firm has a market cap of $15.29 billion, a price-to-earnings ratio of -12,167.42, a PEG ratio of 0.21 and a beta of 0.32. The firm has a 50 day moving average of $226.66 and a 200 day moving average of $194.37. The company has a quick ratio of 1.85, a current ratio of 2.04 and a debt-to-equity ratio of 0.95.

Jazz Pharmaceuticals (NASDAQ:JAZZ) last posted its quarterly earnings results on Tuesday, March 31st. The specialty pharmaceutical company reported $6.34 earnings per share (EPS) for the quarter. The firm had revenue of $1.07 billion for the quarter. Jazz Pharmaceuticals had a return on equity of 14.56% and a net margin of 0.66%. As a group, sell-side analysts predict that Jazz Pharmaceuticals PLC will post 22.09 earnings per share for the current year.

Insider Activity at Jazz Pharmaceuticals

In related news, Director Rick E. Winningham sold 2,741 shares of the stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $241.57, for a total transaction of $662,143.37. Following the transaction, the director directly owned 9,567 shares of the company’s stock, valued at $2,311,100.19. This represents a 22.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Neena M. Patil sold 1,200 shares of Jazz Pharmaceuticals stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $231.83, for a total transaction of $278,196.00. Following the completion of the sale, the executive vice president directly owned 51,549 shares of the company’s stock, valued at approximately $11,950,604.67. This trade represents a 2.27% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 7,098 shares of company stock valued at $1,689,086 in the last ninety days. Insiders own 4.10% of the company’s stock.

Institutional Trading of Jazz Pharmaceuticals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Hilltop National Bank bought a new position in Jazz Pharmaceuticals in the fourth quarter worth approximately $36,000. LRI Investments LLC bought a new stake in shares of Jazz Pharmaceuticals during the fourth quarter valued at approximately $38,000. Danske Bank A S bought a new stake in shares of Jazz Pharmaceuticals during the third quarter valued at approximately $40,000. Geneos Wealth Management Inc. raised its position in shares of Jazz Pharmaceuticals by 57.6% during the first quarter. Geneos Wealth Management Inc. now owns 375 shares of the specialty pharmaceutical company’s stock worth $47,000 after purchasing an additional 137 shares during the period. Finally, Caitong International Asset Management Co. Ltd raised its position in shares of Jazz Pharmaceuticals by 1,383.3% during the third quarter. Caitong International Asset Management Co. Ltd now owns 356 shares of the specialty pharmaceutical company’s stock worth $47,000 after purchasing an additional 332 shares during the period. 89.14% of the stock is owned by 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.