Jazz Pharmaceuticals (NASDAQ:JAZZ) Reaches New 1-Year High – Here’s What Happened

Jazz Pharmaceuticals plc (NASDAQ:JAZZ)’s share price reached a new 52-week high on Wednesday . The company traded as high as $135.16 and last traded at $133.98, with a volume of 309350 shares traded. The stock had previously closed at $129.98.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Royal Bank of Canada restated an “outperform” rating and set a $179.00 price target on shares of Jazz Pharmaceuticals in a report on Tuesday, December 10th. HC Wainwright restated a “buy” rating and set a $200.00 target price on shares of Jazz Pharmaceuticals in a research note on Friday, November 22nd. Morgan Stanley raised Jazz Pharmaceuticals from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $140.00 to $175.00 in a research report on Thursday, December 12th. Robert W. Baird increased their price objective on Jazz Pharmaceuticals from $154.00 to $162.00 and gave the company an “outperform” rating in a research report on Monday, November 18th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $163.00 target price on shares of Jazz Pharmaceuticals in a research report on Thursday, December 12th. One research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $180.33.

Jazz Pharmaceuticals Trading Up 1.0 %

The company has a 50 day moving average of $122.97 and a 200 day moving average of $116.89. The firm has a market cap of $8.27 billion, a price-to-earnings ratio of 19.27, a price-to-earnings-growth ratio of 0.92 and a beta of 0.56. The company has a current ratio of 4.26, a quick ratio of 3.74 and a debt-to-equity ratio of 1.46.

Insider Activity

In other Jazz Pharmaceuticals news, CEO Bruce C. Cozadd sold 2,000 shares of the business’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $121.17, for a total value of $242,340.00. Following the transaction, the chief executive officer now directly owns 427,025 shares in the company, valued at $51,742,619.25. The trade was a 0.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last quarter, insiders have sold 5,053 shares of company stock worth $617,442. Corporate insiders own 4.20% of the company’s stock.

Institutional Trading of Jazz Pharmaceuticals

Hedge funds have recently modified their holdings of the company. Bessemer Group Inc. grew its position in Jazz Pharmaceuticals by 0.3% during the 4th quarter. Bessemer Group Inc. now owns 26,932 shares of the specialty pharmaceutical company’s stock worth $3,317,000 after acquiring an additional 92 shares during the last quarter. CIBC Asset Management Inc boosted its stake in Jazz Pharmaceuticals by 5.2% in the fourth quarter. CIBC Asset Management Inc now owns 1,972 shares of the specialty pharmaceutical company’s stock worth $243,000 after purchasing an additional 97 shares in the last quarter. Synovus Financial Corp grew its holdings in shares of Jazz Pharmaceuticals by 0.5% during the fourth quarter. Synovus Financial Corp now owns 19,206 shares of the specialty pharmaceutical company’s stock worth $2,365,000 after purchasing an additional 100 shares during the last quarter. Quadrant Capital Group LLC increased its stake in shares of Jazz Pharmaceuticals by 97.1% in the fourth quarter. Quadrant Capital Group LLC now owns 205 shares of the specialty pharmaceutical company’s stock valued at $25,000 after buying an additional 101 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of Jazz Pharmaceuticals by 41.3% in the third quarter. GAMMA Investing LLC now owns 414 shares of the specialty pharmaceutical company’s stock valued at $46,000 after buying an additional 121 shares during the last quarter. Institutional investors and hedge funds own 89.14% of the company’s stock.

Jazz Pharmaceuticals Company Profile

Jazz Pharmaceuticals plc identifies, develops, and commercializes pharmaceutical products for unmet medical needs in the United States, Europe, and internationally. The company offers Xywav for cataplexy or excessive daytime sleepiness (EDS) with narcolepsy and idiopathic hypersomnia; Xyrem to treat cataplexy or EDS with narcolepsy; Epidiolex for seizures associated with Lennox-Gastaut and Dravet syndromes, or tuberous sclerosis complex; Zepzelca to treat metastatic small cell lung cancer, or with disease progression on or after platinum-based chemotherapy; Rylaze for acute lymphoblastic leukemia or lymphoblastic lymphoma; Enrylaze to treat acute lymphoblastic leukemia and lymphoblastic lymphoma; Defitelio to treat severe hepatic veno-occlusive disease; and Vyxeos for newly-diagnosed therapy-related acute myeloid leukemia.