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

Jazz Pharmaceuticals PLC (NASDAQ:JAZZ)’s stock price hit a new 52-week high during trading on Wednesday . The stock traded as high as $235.00 and last traded at $229.6950, with a volume of 98928 shares changing hands. The stock had previously closed at $227.84.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Wells Fargo & Company increased their target price on shares of Jazz Pharmaceuticals from $250.00 to $265.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. Truist Financial raised shares of Jazz Pharmaceuticals to a “strong-buy” rating in a research note on Wednesday, March 25th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Jazz Pharmaceuticals in a report on Friday, March 27th. Barclays lifted their target price on shares of Jazz Pharmaceuticals from $225.00 to $234.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $245.00 target price on shares of Jazz Pharmaceuticals in a report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $230.56.

Jazz Pharmaceuticals Stock Down 0.6%

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 cap of $14.50 billion, a price-to-earnings ratio of -11,546.73, a PEG ratio of 0.41 and a beta of 0.27. The firm’s 50-day simple moving average is $196.38 and its two-hundred day simple moving average is $176.14.

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

Insider Activity at Jazz Pharmaceuticals

In related news, EVP Neena M. Patil sold 55,600 shares of the business’s stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $191.56, for a total transaction of $10,650,736.00. Following the completion of the sale, the executive vice president directly owned 56,862 shares of the company’s stock, valued at $10,892,484.72. The trade was a 49.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Bruce C. Cozadd sold 6,000 shares of the stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $190.50, for a total transaction of $1,143,000.00. Following the completion of the transaction, the director owned 384,682 shares in the company, valued at $73,281,921. This represents a 1.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 74,015 shares of company stock worth $14,180,486. Insiders own 4.30% of the company’s stock.

Institutional Trading of Jazz Pharmaceuticals

Institutional investors and hedge funds have recently made changes to their positions in the business. Vestal Point Capital LP bought a new position in shares of Jazz Pharmaceuticals in the 2nd quarter worth $127,344,000. Goldentree Asset Management LP acquired a new position in Jazz Pharmaceuticals in the third quarter valued at about $149,597,000. Franklin Resources Inc. lifted its stake in Jazz Pharmaceuticals by 164.0% in 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 buying an additional 1,129,995 shares during the period. Bank of New York Mellon Corp boosted its holdings in Jazz Pharmaceuticals by 160.2% during the fourth quarter. Bank of New York Mellon Corp now owns 1,161,857 shares of the specialty pharmaceutical company’s stock worth $197,516,000 after buying an additional 715,361 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. boosted its holdings in 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 buying an additional 395,000 shares during the last quarter. Institutional investors own 89.14% of the company’s stock.

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.