Jazz Pharmaceuticals (NASDAQ:JAZZ) Stock Gets Price Target Boost from Morgan Stanley

Jazz Pharmaceuticals (NASDAQ:JAZZ) had its target price upped by investment analysts at Morgan Stanley from $319.00 to $324.00 in a research note issued to investors on Friday, Benzinga reports. The firm currently has an “overweight” rating on the specialty pharmaceutical company’s stock. Morgan Stanley‘s price objective would indicate a potential upside of 35.05% from the company’s current price.

Several other research analysts also recently commented on JAZZ. Barclays lifted their target price on Jazz Pharmaceuticals from $271.00 to $275.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 3rd. Stifel Nicolaus set a $275.00 price target on Jazz Pharmaceuticals in a research note on Tuesday, August 4th. Needham & Company LLC raised their price target on Jazz Pharmaceuticals from $292.00 to $310.00 and gave the company a “buy” rating in a report on Wednesday, August 26th. Sanford C. Bernstein reaffirmed a “market perform” rating and set a $220.00 price objective on shares of Jazz Pharmaceuticals in a research report on Monday. Finally, Citigroup initiated coverage on shares of Jazz Pharmaceuticals in a research report on Wednesday, September 30th. They set a “buy” rating and a $325.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $294.25.

Jazz Pharmaceuticals Stock Performance

Shares of Jazz Pharmaceuticals stock traded down $0.45 during trading on Friday, hitting $239.92. 151,605 shares of the stock were exchanged, compared to its average volume of 924,636. The stock has a market capitalization of $15.40 billion, a price-to-earnings ratio of 81.56, a price-to-earnings-growth ratio of 0.45 and a beta of 0.38. The company has a fifty day moving average price of $229.25 and a 200-day moving average price of $219.25. Jazz Pharmaceuticals has a 1-year low of $139.26 and a 1-year high of $266.38. The company has a current ratio of 1.82, a quick ratio of 1.64 and a debt-to-equity ratio of 1.09.

Jazz Pharmaceuticals (NASDAQ:JAZZ) last issued its earnings results on Monday, November 2nd. The specialty pharmaceutical company reported ($3.88) earnings per share (EPS) for the quarter, beating the consensus estimate of ($4.03) by $0.15. Jazz Pharmaceuticals had a net margin of 4.37% and a return on equity of 16.88%. The business had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.21 billion. Jazz Pharmaceuticals’s revenue was up 10.4% on a year-over-year basis. During the same period last year, the business posted $8.13 EPS. As a group, equities analysts predict that Jazz Pharmaceuticals will post 11.08 EPS for the current fiscal year.

Insider Activity at Jazz Pharmaceuticals

In related news, EVP Neena M. Patil sold 1,200 shares of Jazz Pharmaceuticals stock in a transaction that occurred on Thursday, September 10th. The stock was sold at an average price of $240.94, for a total transaction of $289,128.00. Following the completion of the sale, the executive vice president directly owned 47,671 shares of the company’s stock, valued at approximately $11,485,850.74. This trade represents a 2.46% decrease in their position. 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 Bruce C. Cozadd sold 68,808 shares of the business’s stock in a transaction on Friday, November 6th. The shares were sold at an average price of $235.95, for a total value of $16,235,247.60. Following the completion of the sale, the director owned 357,567 shares of the company’s stock, valued at $84,367,933.65. This trade represents a 16.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders have sold 171,342 shares of company stock valued at $41,420,491. Insiders own 4.10% of the company’s stock.

Institutional Investors Weigh In On Jazz Pharmaceuticals

A number of hedge funds and other institutional investors have recently modified their holdings of JAZZ. USA Financial Formulas bought a new position in Jazz Pharmaceuticals during the first quarter worth about $25,000. Pension & Wealth Management Advisors Inc. acquired a new stake in Jazz Pharmaceuticals in the 3rd quarter worth about $32,000. Ameritas Advisory Services LLC bought a new stake in Jazz Pharmaceuticals in the 2nd quarter valued at about $47,000. Westpac Banking Corp bought a new stake in Jazz Pharmaceuticals in the 1st quarter valued at about $51,000. Finally, Elevation Wealth Partners LLC grew its position in shares of Jazz Pharmaceuticals by 156.4% during the 3rd quarter. Elevation Wealth Partners LLC now owns 259 shares of the specialty pharmaceutical company’s stock worth $60,000 after purchasing an additional 158 shares in the last quarter. Institutional investors and hedge funds own 89.14% of the company’s stock.

About Jazz Pharmaceuticals

Jazz Pharmaceuticals plc is a global biopharmaceutical company focused on developing and commercializing medicines for serious diseases, particularly in neuroscience and oncology. Founded in 2003, the company is headquartered in Dublin, Ireland, and serves patients in the United States and international markets. Its products include treatments for sleep disorders and seizure conditions, such as Xywav, Xyrem, Sunosi and Epidiolex. Jazz also offers medicines used in cancer care, including Zepzelca, Vyxeos and Rylaze, as well as Defitelio for a serious complication following stem cell transplantation.