Jazz Pharmaceuticals (NASDAQ:JAZZ) Rating Increased to Strong-Buy at Truist Financial

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

JAZZ has been the subject of several other research reports. Needham & Company LLC boosted their price objective on Jazz Pharmaceuticals from $210.00 to $235.00 and gave the company a “buy” rating in a report on Monday, January 12th. TD Cowen reiterated a “buy” rating on shares of Jazz Pharmaceuticals in a research report on Thursday, January 29th. Weiss Ratings reissued a “sell (d+)” rating on shares of Jazz Pharmaceuticals in a report on Monday, December 29th. Royal Bank Of Canada upped their price objective on Jazz Pharmaceuticals from $191.00 to $195.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 25th. Finally, Barclays reaffirmed an “overweight” rating and set a $224.00 price objective on shares of Jazz Pharmaceuticals in a research note on Monday, March 9th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $215.38.

Jazz Pharmaceuticals Trading Up 2.2%

Shares of Jazz Pharmaceuticals stock opened at $189.08 on Wednesday. The stock has a market cap of $11.64 billion, a PE ratio of -31.67, a price-to-earnings-growth ratio of 0.33 and a beta of 0.22. The firm has a fifty day moving average price of $175.00 and a 200 day moving average price of $159.26. Jazz Pharmaceuticals has a 1 year low of $95.49 and a 1 year high of $198.00. 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 posted its quarterly earnings results on Tuesday, February 24th. The specialty pharmaceutical company reported $6.64 EPS for the quarter, beating the consensus estimate of $6.49 by $0.15. The company had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.17 billion. Jazz Pharmaceuticals had a negative net margin of 8.35% and a positive return on equity of 6.87%. The firm’s revenue was up 8.1% on a year-over-year basis. During the same period in the prior year, the company earned $6.51 earnings per share. Equities research analysts predict that Jazz Pharmaceuticals will post 16.96 earnings per share for the current year.

Insiders Place Their Bets

In other Jazz Pharmaceuticals news, CAO Patricia Carr sold 1,287 shares of the firm’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 sale, the chief accounting officer directly owned 6,512 shares of the company’s stock, valued at approximately $1,191,305.28. This trade represents a 16.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Mary Elizabeth Henderson sold 5,343 shares of the business’s stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $194.49, for a total value of $1,039,160.07. Following the completion of the sale, the senior vice president owned 28,728 shares of the company’s stock, valued at $5,587,308.72. This trade represents a 15.68% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 68,015 shares of company stock worth $13,037,486 in the last 90 days. 4.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Vestal Point Capital LP purchased a new stake in Jazz Pharmaceuticals in the 2nd quarter worth $127,344,000. Goldentree Asset Management LP purchased a new position in Jazz Pharmaceuticals during the third quarter valued at $149,597,000. Franklin Resources Inc. lifted its holdings in Jazz Pharmaceuticals by 164.0% during the fourth 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 grew its position in shares of Jazz Pharmaceuticals by 160.2% in the fourth 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 period. Finally, Adage Capital Partners GP L.L.C. increased its stake in shares of Jazz Pharmaceuticals by 258.2% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 548,000 shares of the specialty pharmaceutical company’s stock worth $93,160,000 after purchasing an additional 395,000 shares in the last quarter. 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.