Jazz Pharmaceuticals (NASDAQ:JAZZ) Price Target Raised to $292.00

Jazz Pharmaceuticals (NASDAQ:JAZZ) had its price target boosted by analysts at Needham & Company LLC from $282.00 to $292.00 in a report issued on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the specialty pharmaceutical company’s stock. Needham & Company LLC’s target price indicates a potential upside of 16.07% from the company’s previous close.

A number of other analysts have also weighed in on JAZZ. Leerink Partners raised their price target on shares of Jazz Pharmaceuticals from $215.00 to $225.00 and gave the company an “outperform” rating in a report on Wednesday, April 22nd. Raymond James Financial reaffirmed an “outperform” rating and set a $239.00 price objective on shares of Jazz Pharmaceuticals in a report on Wednesday, May 6th. TD Cowen lifted their target price on Jazz Pharmaceuticals from $220.00 to $275.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Wells Fargo & Company upped their price target on Jazz Pharmaceuticals from $265.00 to $285.00 and gave the company an “overweight” rating in a research note on Tuesday, July 14th. Finally, Royal Bank Of Canada lifted their price objective on Jazz Pharmaceuticals from $195.00 to $258.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $262.22.

Jazz Pharmaceuticals Stock Down 0.5%

Shares of NASDAQ JAZZ opened at $251.58 on Tuesday. Jazz Pharmaceuticals has a 12-month low of $105.00 and a 12-month high of $261.30. The firm’s 50-day simple moving average is $239.50 and its 200 day simple moving average is $207.30. The company has a quick ratio of 1.85, a current ratio of 2.04 and a debt-to-equity ratio of 0.95. The company has a market cap of $15.80 billion, a price-to-earnings ratio of -12,572.71, a price-to-earnings-growth ratio of 0.22 and a beta of 0.32.

Jazz Pharmaceuticals (NASDAQ:JAZZ) last posted its quarterly earnings data on Monday, August 3rd. The specialty pharmaceutical company reported $5.71 earnings per share for the quarter, missing the consensus estimate of $6.18 by ($0.47). Jazz Pharmaceuticals had a net margin of 0.66% and a return on equity of 14.56%. The company had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.11 billion. During the same quarter in the previous year, the business posted ($8.25) EPS. The company’s revenue was up 15.5% compared to the same quarter last year. On average, research analysts expect that Jazz Pharmaceuticals will post 21.9 earnings per share for the current fiscal year.

Insider Transactions at Jazz Pharmaceuticals

In other Jazz Pharmaceuticals news, Director Bruce C. Cozadd sold 6,000 shares of the firm’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $240.47, for a total transaction of $1,442,820.00. Following the transaction, the director 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Neena M. Patil sold 1,200 shares of the company’s stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $231.83, for a total value of $278,196.00. Following the completion of the sale, the executive vice president directly owned 51,549 shares of the company’s stock, valued at approximately $11,950,604.67. This trade represents a 2.27% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, 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 Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Ruffer LLP acquired a new position in Jazz Pharmaceuticals during the fourth quarter valued at approximately $2,425,000. Allianz Asset Management GmbH boosted its holdings in shares of Jazz Pharmaceuticals by 68.2% in the 4th quarter. Allianz Asset Management GmbH now owns 598,832 shares of the specialty pharmaceutical company’s stock valued at $101,801,000 after buying an additional 242,892 shares during the last quarter. Swedbank AB boosted its holdings in shares of Jazz Pharmaceuticals by 2.7% in the 4th quarter. Swedbank AB now owns 1,102,974 shares of the specialty pharmaceutical company’s stock valued at $187,506,000 after buying an additional 28,882 shares during the last quarter. SEB Asset Management AB bought a new position in shares of Jazz Pharmaceuticals in the first quarter valued at $8,765,000. Finally, Fieldview Capital Management LLC acquired a new position in Jazz Pharmaceuticals during the fourth quarter worth $1,864,000. 89.14% of the stock is owned by institutional investors and hedge funds.

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.