Jazz Pharmaceuticals (NASDAQ:JAZZ) Reaches New 52-Week High – What’s Next?

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

Analysts Set New Price Targets

JAZZ has been the subject of several analyst reports. Leerink Partners raised their target price on Jazz Pharmaceuticals from $215.00 to $225.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 22nd. Sanford C. Bernstein reiterated a “market perform” rating on shares of Jazz Pharmaceuticals in a research note on Tuesday, June 9th. Wells Fargo & Company boosted their target price on shares of Jazz Pharmaceuticals from $250.00 to $265.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. Piper Sandler upped their target price on shares of Jazz Pharmaceuticals from $232.00 to $301.00 and gave the stock an “overweight” rating in a report on Friday, May 22nd. Finally, Raymond James Financial reiterated an “outperform” rating and set a $239.00 target price on shares of Jazz Pharmaceuticals in a research report on Wednesday, May 6th. Sixteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $245.94.

Jazz Pharmaceuticals Stock Up 1.5%

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 cap of $15.56 billion, a price-to-earnings ratio of -12,379.81, a price-to-earnings-growth ratio of 0.21 and a beta of 0.32. The firm has a 50 day simple moving average of $230.28 and a two-hundred day simple moving average of $196.54.

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

Insider Transactions at Jazz Pharmaceuticals

In other Jazz Pharmaceuticals news, Director Bruce C. Cozadd sold 6,000 shares of the stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $240.47, for a total value of $1,442,820.00. Following the sale, the director directly owned 366,682 shares in the company, valued at approximately $88,176,020.54. This trade represents a 1.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mark Douglas Smith sold 1,157 shares of Jazz Pharmaceuticals stock in a transaction on Monday, June 15th. The stock was sold at an average price of $230.55, for a total transaction of $266,746.35. Following the transaction, the director directly owned 9,680 shares in the company, valued at approximately $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. In the last three months, insiders have sold 13,098 shares of company stock valued at $3,131,906. Corporate insiders own 4.10% of the company’s stock.

Institutional Investors Weigh In On Jazz Pharmaceuticals

Several large investors have recently modified their holdings of the business. Hilltop National Bank bought a new position in shares of Jazz Pharmaceuticals during the 4th quarter valued at about $36,000. LRI Investments LLC acquired a new stake in Jazz Pharmaceuticals during the 4th quarter worth approximately $38,000. Danske Bank A S acquired a new stake in Jazz Pharmaceuticals during the 3rd quarter worth approximately $40,000. Geneos Wealth Management Inc. lifted its stake in Jazz Pharmaceuticals by 57.6% in the first quarter. Geneos Wealth Management Inc. now owns 375 shares of the specialty pharmaceutical company’s stock valued at $47,000 after buying an additional 137 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd boosted its holdings in shares of Jazz Pharmaceuticals by 1,383.3% in the third quarter. Caitong International Asset Management Co. Ltd now owns 356 shares of the specialty pharmaceutical company’s stock valued at $47,000 after buying an additional 332 shares during the period. 89.14% of the stock is currently owned by institutional investors.

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.