Jazz Pharmaceuticals (NASDAQ:JAZZ) Upgraded at The Goldman Sachs Group

Jazz Pharmaceuticals (NASDAQ:JAZZ) was upgraded by analysts at The Goldman Sachs Group to a “strong-buy” rating in a research report issued to clients and investors on Thursday, Zacks reports.

A number of other brokerages have also recently commented on JAZZ. Needham & Company LLC upped their price target on Jazz Pharmaceuticals from $292.00 to $310.00 and gave the company a “buy” rating in a research report on Wednesday, August 26th. Barclays lifted their price objective on Jazz Pharmaceuticals from $270.00 to $271.00 and gave the stock an “overweight” rating in a report on Thursday, September 10th. Wells Fargo & Company upped their price objective on shares of Jazz Pharmaceuticals from $285.00 to $300.00 and gave the company an “overweight” rating in a report on Tuesday, August 4th. UBS Group lifted their price objective on shares of Jazz Pharmaceuticals from $315.00 to $337.00 and gave the company a “buy” rating in a research note on Friday, September 11th. Finally, Robert W. Baird upped their price target on Jazz Pharmaceuticals from $252.00 to $280.00 and gave the company an “outperform” rating in a research report on Tuesday, August 4th. Two analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, Jazz Pharmaceuticals presently has a consensus rating of “Buy” and an average price target of $289.37.

Jazz Pharmaceuticals Stock Up 0.6%

Jazz Pharmaceuticals stock opened at $236.28 on Thursday. Jazz Pharmaceuticals has a fifty-two week low of $125.79 and a fifty-two week high of $266.38. The stock has a market cap of $15.34 billion, a PE ratio of 16.30, a price-to-earnings-growth ratio of 0.22 and a beta of 0.36. The firm’s 50-day simple moving average is $248.98 and its 200 day simple moving average is $227.51. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.58 and a current ratio of 1.78.

Jazz Pharmaceuticals (NASDAQ:JAZZ) last posted its quarterly earnings data on Monday, August 3rd. The specialty pharmaceutical company reported $5.71 EPS for the quarter, missing the consensus estimate of $6.18 by ($0.47). Jazz Pharmaceuticals had a net margin of 20.45% and a return on equity of 33.97%. The firm had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.11 billion. During the same quarter last year, the business posted ($8.25) EPS. The company’s quarterly revenue was up 15.5% on a year-over-year basis. Research analysts predict that Jazz Pharmaceuticals will post 21.5 EPS for the current fiscal year.

Insider Activity at Jazz Pharmaceuticals

In related news, EVP Robert Iannone sold 76,921 shares of the stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $249.70, for a total value of $19,207,173.70. Following the completion of the transaction, the executive vice president directly owned 65,686 shares of the company’s stock, valued at $16,401,794.20. This represents a 53.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bruce C. Cozadd sold 6,000 shares of the stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $250.13, for a total value of $1,500,780.00. Following the completion of the transaction, the director directly owned 351,875 shares of the company’s stock, valued at $88,014,493.75. This represents a 1.68% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 98,121 shares of company stock valued at $24,443,842. 4.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Jazz Pharmaceuticals

A number of institutional investors have recently added to or reduced their stakes in JAZZ. Capital World Investors boosted its stake in Jazz Pharmaceuticals by 4.4% during the fourth quarter. Capital World Investors now owns 2,666,602 shares of the specialty pharmaceutical company’s stock worth $453,322,000 after acquiring an additional 111,735 shares in the last quarter. Franklin Resources Inc. increased its holdings in Jazz Pharmaceuticals by 164.0% in the 4th quarter. Franklin Resources Inc. now owns 1,818,911 shares of the specialty pharmaceutical company’s stock worth $309,215,000 after buying an additional 1,129,995 shares in the last quarter. Bank of New York Mellon Corp raised its position in Jazz Pharmaceuticals by 44.5% in the 1st quarter. Bank of New York Mellon Corp now owns 1,679,371 shares of the specialty pharmaceutical company’s stock worth $317,485,000 after buying an additional 517,514 shares during the last quarter. Bank of America Corp DE lifted its stake in Jazz Pharmaceuticals by 10.9% during the 1st quarter. Bank of America Corp DE now owns 1,014,800 shares of the specialty pharmaceutical company’s stock valued at $191,848,000 after acquiring an additional 99,656 shares during the period. Finally, Sofinnova Investments Inc. boosted its holdings in shares of Jazz Pharmaceuticals by 63.0% during the 4th quarter. Sofinnova Investments Inc. now owns 959,860 shares of the specialty pharmaceutical company’s stock valued at $163,176,000 after acquiring an additional 371,032 shares during the last quarter. Institutional investors own 89.14% of the company’s stock.

About Jazz Pharmaceuticals

Jazz Pharmaceuticals plc (NASDAQ:JAZZ) is a global biopharmaceutical company focused on developing and commercializing medicines for disorders in neuroscience and oncology. The company concentrates on conditions with significant unmet medical needs, including sleep disorders, epilepsy, rare diseases and certain cancers.

Its neuroscience portfolio includes Xywav and Xyrem, oxybate-based treatments for narcolepsy, with Xywav also indicated for idiopathic hypersomnia in adults. Jazz also markets Epidiolex in the United States, known as Epidyolex in some international markets, a cannabidiol-based medicine for seizures associated with Lennox-Gastaut syndrome, Dravet syndrome and tuberous sclerosis complex.

In oncology, Jazz’s products include Rylaze, an asparaginase therapy used as part of treatment for acute lymphoblastic leukemia and lymphoblastic lymphoma; Zepzelca, used for certain patients with metastatic small cell lung cancer; and Vyxeos, a chemotherapy formulation for certain cases of newly diagnosed therapy-related acute myeloid leukemia or AML with myelodysplasia-related changes.