Jazz Pharmaceuticals PLC (NASDAQ:JAZZ) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Monday.

According to Zacks, “Jazz reported better-than-expected earnings in Q3 while revenue fell short of the estimate. Jazz’s sleep disorder drug Xyrem is the only FDA approved product for both cataplexy and EDS. Its lead pipeline candidate, JZP-110, being developed for the treatment of EDS in patients suffering from narcolepsy and OSA, complements its existing sleep disorder portfolio. In October, Jazz commenced a rolling submission for its second pipeline candidate, Vyxeos and plans to finish it in early 2017. We believe Vyxeos has multi-million dollar potential.  However, Xyrem, is facing patent challenges and some of Xyrem’s patents are undergoing inter partes review. Jazz has also been facing challenges in building sufficient inventory levels for Erwinaze due to constrained manufacturing capacity and may experience further supply disruptions in certain markets, including the U.S., from time to time.”

Several other research firms have also issued reports on JAZZ. BMO Capital Markets reaffirmed an “outperform” rating and issued a $190.00 target price on shares of Jazz Pharmaceuticals PLC in a report on Sunday, July 31st. Barclays PLC reaffirmed a “buy” rating and issued a $200.00 target price on shares of Jazz Pharmaceuticals PLC in a report on Wednesday, August 10th. Piper Jaffray Cos. reduced their target price on Jazz Pharmaceuticals PLC from $188.00 to $178.00 and set an “overweight” rating for the company in a report on Wednesday, August 10th. Mizuho reduced their target price on Jazz Pharmaceuticals PLC from $195.00 to $185.00 and set a “buy” rating for the company in a report on Wednesday, August 10th. Finally, Leerink Swann reaffirmed a “buy” rating and issued a $202.00 target price on shares of Jazz Pharmaceuticals PLC in a report on Thursday, August 11th. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Jazz Pharmaceuticals PLC has an average rating of “Buy” and an average price target of $178.25.

Analyst Recommendations for Jazz Pharmaceuticals PLC (NASDAQ:JAZZ)

Jazz Pharmaceuticals PLC (NASDAQ:JAZZ) opened at 112.35 on Monday. The firm’s 50-day moving average price is $117.01 and its 200-day moving average price is $134.61. The company has a market cap of $6.73 billion, a price-to-earnings ratio of 19.65 and a beta of 1.35. Jazz Pharmaceuticals PLC has a 1-year low of $95.80 and a 1-year high of $160.00.

Jazz Pharmaceuticals PLC (NASDAQ:JAZZ) last released its earnings results on Tuesday, November 8th. The specialty pharmaceutical company reported $2.57 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.61 by $0.04. The business earned $374 million during the quarter, compared to the consensus estimate of $389.34 million. Jazz Pharmaceuticals PLC had a net margin of 24.81% and a return on equity of 30.50%. The business’s revenue was up 9.8% on a year-over-year basis. During the same period in the prior year, the company earned $2.52 earnings per share. Equities research analysts forecast that Jazz Pharmaceuticals PLC will post $9.97 EPS for the current fiscal year.

In related news, Director Seamus Mulligan sold 27,968 shares of the stock in a transaction on Thursday, August 25th. The stock was sold at an average price of $128.32, for a total value of $3,588,853.76. Following the transaction, the director now owns 1,072,411 shares of the company’s stock, valued at $137,611,779.52. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Michael Patrick Miller sold 200 shares of the stock in a transaction on Monday, September 19th. The shares were sold at an average price of $126.17, for a total value of $25,234.00. Following the completion of the transaction, the senior vice president now directly owns 17,325 shares in the company, valued at approximately $2,185,895.25. The disclosure for this sale can be found here. 3.90% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in JAZZ. J.Safra Asset Management Corp bought a new position in shares of Jazz Pharmaceuticals PLC during the second quarter worth about $101,000. Tredje AP fonden bought a new position in shares of Jazz Pharmaceuticals PLC during the second quarter worth about $102,000. Howard Hughes Medical Institute bought a new position in shares of Jazz Pharmaceuticals PLC during the third quarter worth about $112,000. Fuller & Thaler Asset Management Inc. bought a new position in shares of Jazz Pharmaceuticals PLC during the second quarter worth about $113,000. Finally, Brave Asset Management Inc boosted its position in shares of Jazz Pharmaceuticals PLC by 540.0% in the third quarter. Brave Asset Management Inc now owns 960 shares of the specialty pharmaceutical company’s stock worth $117,000 after buying an additional 810 shares during the period. 87.60% of the stock is currently owned by institutional investors and hedge funds.

Jazz Pharmaceuticals PLC Company Profile

Jazz Pharmaceuticals, Inc is a specialty pharmaceutical company focusing on the development and commercialization of pharmaceutical products to meet unmet medical needs in neurology and psychiatry. As of December 31, 2009, the Company markets two products: Xyrem (sodium oxybate) for the treatment of both cataplexy and excessive daytime sleepiness in patients with narcolepsy; and Luvox CR (fluvoxamine maleate) for the treatment of both obsessive compulsive disorder and social anxiety disorder.

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