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

Jazz Pharmaceuticals PLC (NASDAQ:JAZZ) reached a new 52-week high during mid-day 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.

Wall Street Analysts Forecast Growth

JAZZ has been the topic of a number of recent analyst reports. Raymond James Financial reissued an “outperform” rating and issued a $239.00 price objective on shares of Jazz Pharmaceuticals in a research note on Wednesday, May 6th. TD Cowen raised their target price on Jazz Pharmaceuticals from $220.00 to $275.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Sanford C. Bernstein reiterated a “market perform” rating on shares of Jazz Pharmaceuticals in a research note on Tuesday, June 9th. Truist Financial set a $256.00 price target on Jazz Pharmaceuticals and gave the stock a “buy” rating in a report on Tuesday, June 9th. Finally, Leerink Partners upped their price objective on Jazz Pharmaceuticals from $215.00 to $225.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 22nd. Sixteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, Jazz Pharmaceuticals has a consensus rating of “Moderate Buy” and an average target price of $246.06.

Jazz Pharmaceuticals Stock Performance

The firm has a market cap of $15.29 billion, a P/E ratio of -12,167.42, a P/E/G ratio of 0.21 and a beta of 0.32. 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 company’s 50 day moving average is $226.66 and its 200 day moving average is $194.37.

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

Insider Transactions at Jazz Pharmaceuticals

In other Jazz Pharmaceuticals news, Director Rick E. Winningham sold 2,741 shares of the company’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $241.57, for a total value of $662,143.37. Following the completion of the transaction, the director owned 9,567 shares of the company’s stock, valued at $2,311,100.19. This represents a 22.27% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Mark Douglas Smith sold 1,157 shares of the stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $230.55, for a total value of $266,746.35. Following the completion of the transaction, the director owned 9,680 shares of the company’s stock, valued at $2,231,724. This represents a 10.68% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 7,098 shares of company stock worth $1,689,086. 4.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Jazz Pharmaceuticals

Hedge funds have recently added to or reduced their stakes in the business. Versant Capital Management Inc grew its holdings in Jazz Pharmaceuticals by 14.9% during the 2nd quarter. Versant Capital Management Inc now owns 2,357 shares of the specialty pharmaceutical company’s stock worth $568,000 after acquiring an additional 305 shares during the last quarter. NewEdge Advisors LLC raised its stake in shares of Jazz Pharmaceuticals by 132.6% during the first quarter. NewEdge Advisors LLC now owns 1,975 shares of the specialty pharmaceutical company’s stock valued at $373,000 after acquiring an additional 1,126 shares during the last quarter. Glenmede Trust Co. NA lifted its holdings in shares of Jazz Pharmaceuticals by 1.9% during the first quarter. Glenmede Trust Co. NA now owns 7,819 shares of the specialty pharmaceutical company’s stock worth $1,478,000 after purchasing an additional 146 shares during the period. Bank of America Corp DE grew its stake in shares of Jazz Pharmaceuticals by 10.9% in the first quarter. Bank of America Corp DE now owns 1,014,800 shares of the specialty pharmaceutical company’s stock worth $191,848,000 after purchasing an additional 99,656 shares during the last quarter. Finally, Tri Locum Partners LP bought a new stake in shares of Jazz Pharmaceuticals in the first quarter worth $29,995,000. 89.14% of the stock is currently 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.