Jazz Pharmaceuticals (NASDAQ:JAZZ) Sets New 1-Year High – Time to Buy?

Jazz Pharmaceuticals PLC (NASDAQ:JAZZ) hit a new 52-week high on Wednesday . The company traded as high as $249.64 and last traded at $247.72, with a volume of 1056204 shares. The stock had previously closed at $244.17.

Analyst Upgrades and Downgrades

Several research firms have issued reports on JAZZ. Weiss Ratings raised Jazz Pharmaceuticals from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, June 29th. Raymond James Financial reiterated an “outperform” rating and set a $239.00 price objective on shares of Jazz Pharmaceuticals in a report on Wednesday, May 6th. Royal Bank Of Canada lifted their target price on Jazz Pharmaceuticals from $195.00 to $258.00 and gave the company an “outperform” rating in a research report on Wednesday, May 6th. Truist Financial cut their target price on Jazz Pharmaceuticals from $256.00 to $254.00 and set a “buy” rating on the stock in a research note on Tuesday. Finally, Piper Sandler upped their price target on Jazz Pharmaceuticals from $232.00 to $301.00 and gave the stock an “overweight” rating in a research report on Friday, May 22nd. Sixteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $245.94.

Jazz Pharmaceuticals Stock Up 1.5%

The firm has a 50-day moving average of $230.28 and a 200 day moving average of $196.54. The company has a debt-to-equity ratio of 0.95, a current ratio of 2.04 and a quick ratio of 1.85. The stock has a market capitalization of $15.56 billion, a price-to-earnings ratio of -12,379.81, a PEG ratio of 0.21 and a beta of 0.32.

Jazz Pharmaceuticals (NASDAQ:JAZZ) last posted its quarterly 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. As a group, sell-side analysts forecast that Jazz Pharmaceuticals PLC will post 22.09 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Rick E. Winningham sold 2,741 shares of the business’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $241.57, for a total transaction of $662,143.37. Following the completion of the sale, the director owned 9,567 shares in the company, valued at $2,311,100.19. The trade was a 22.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Neena M. Patil sold 1,200 shares of the company’s stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $231.83, for a total value of $278,196.00. Following the completion of the transaction, the executive vice president directly owned 51,549 shares in the company, valued at approximately $11,950,604.67. This represents a 2.27% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 13,098 shares of company stock valued at $3,131,906. Company insiders own 4.10% of the company’s stock.

Institutional Trading of Jazz Pharmaceuticals

Several large investors have recently modified their holdings of JAZZ. Vestal Point Capital LP bought a new position in Jazz Pharmaceuticals in the second quarter valued at approximately $127,344,000. Goldentree Asset Management LP bought a new stake in Jazz Pharmaceuticals during the third quarter worth $149,597,000. Franklin Resources Inc. boosted its holdings in shares of Jazz Pharmaceuticals by 164.0% in the 4th quarter. Franklin Resources Inc. now owns 1,818,911 shares of the specialty pharmaceutical company’s stock valued at $309,215,000 after purchasing an additional 1,129,995 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Jazz Pharmaceuticals by 160.2% in the 4th quarter. Bank of New York Mellon Corp now owns 1,161,857 shares of the specialty pharmaceutical company’s stock valued at $197,516,000 after purchasing an additional 715,361 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. increased its stake in shares of Jazz Pharmaceuticals by 258.2% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 548,000 shares of the specialty pharmaceutical company’s stock valued at $93,160,000 after purchasing an additional 395,000 shares during the last quarter. 89.14% of the stock is owned by institutional investors and hedge funds.

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.