Jazz Pharmaceuticals (NASDAQ:JAZZ) Hits New 52-Week High – Here’s What Happened

Jazz Pharmaceuticals PLC (NASDAQ:JAZZ)’s stock price reached a new 52-week high on Tuesday . The stock traded as high as $235.42 and last traded at $233.5930, with a volume of 65011 shares. The stock had previously closed at $229.55.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on JAZZ. UBS Group raised Jazz Pharmaceuticals from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $188.00 to $307.00 in a report on Tuesday. Royal Bank Of Canada boosted their target price on Jazz Pharmaceuticals from $195.00 to $258.00 and gave the stock an “outperform” rating in a report on Wednesday, May 6th. Robert W. Baird set a $252.00 target price on Jazz Pharmaceuticals in a report on Wednesday, May 6th. Morgan Stanley reissued an “overweight” rating and set a $245.00 target price on shares of Jazz Pharmaceuticals in a report on Thursday, May 7th. Finally, Leerink Partners boosted their target price on Jazz Pharmaceuticals from $215.00 to $225.00 and gave the stock an “outperform” rating in a report on Wednesday, April 22nd. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Jazz Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average price target of $238.00.

Jazz Pharmaceuticals Trading Up 2.7%

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 business has a fifty day simple moving average of $198.10 and a 200 day simple moving average of $177.42. The stock has a market capitalization of $14.79 billion, a price-to-earnings ratio of -11,767.12, a price-to-earnings-growth ratio of 0.41 and a beta of 0.27.

Jazz Pharmaceuticals (NASDAQ:JAZZ) last issued its quarterly earnings data on Tuesday, March 31st. The specialty pharmaceutical company reported $6.34 EPS for the quarter. Jazz Pharmaceuticals had a return on equity of 14.56% and a net margin of 0.66%.The firm had revenue of $1.07 billion for the quarter. As a group, research analysts expect that Jazz Pharmaceuticals PLC will post 20.75 EPS for the current year.

Insider Transactions at Jazz Pharmaceuticals

In other Jazz Pharmaceuticals news, CAO Patricia Carr sold 1,287 shares of the company’s stock in a transaction on Monday, March 9th. The stock was sold at an average price of $182.94, for a total value of $235,443.78. Following the transaction, the chief accounting officer directly owned 6,512 shares of the company’s stock, valued at $1,191,305.28. This represents a 16.50% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Norbert G. Riedel sold 3,415 shares of the company’s stock in a transaction on Friday, February 27th. The shares were sold at an average price of $192.00, for a total value of $655,680.00. Following the completion of the transaction, the director directly owned 7,024 shares in the company, valued at approximately $1,348,608. This represents a 32.71% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 74,015 shares of company stock worth $14,180,486. 4.30% of the stock is currently owned by company insiders.

Institutional Trading of Jazz Pharmaceuticals

A number of institutional investors have recently modified their holdings of JAZZ. Hilltop National Bank acquired a new stake in shares of Jazz Pharmaceuticals during the 4th quarter worth $36,000. LRI Investments LLC acquired a new stake in shares of Jazz Pharmaceuticals during the 4th quarter worth $38,000. Danske Bank A S acquired a new stake in shares of Jazz Pharmaceuticals during the 3rd quarter worth $40,000. Geneos Wealth Management Inc. grew its holdings in shares of Jazz Pharmaceuticals by 57.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 375 shares of the specialty pharmaceutical company’s stock worth $47,000 after purchasing an additional 137 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd grew its holdings in shares of Jazz Pharmaceuticals by 1,383.3% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 356 shares of the specialty pharmaceutical company’s stock worth $47,000 after purchasing an additional 332 shares in the last quarter. 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.