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

Jazz Pharmaceuticals PLC (NASDAQ:JAZZ) shares hit a new 52-week high on Wednesday . The company traded as high as $201.09 and last traded at $201.06, with a volume of 970577 shares changing hands. The stock had previously closed at $195.31.

Wall Street Analysts Forecast Growth

JAZZ has been the topic of a number of research reports. TD Cowen reiterated a “buy” rating on shares of Jazz Pharmaceuticals in a report on Thursday, January 29th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Jazz Pharmaceuticals in a report on Friday, March 27th. Needham & Company LLC upped their target price on Jazz Pharmaceuticals from $210.00 to $235.00 and gave the company a “buy” rating in a report on Monday, January 12th. Royal Bank Of Canada upped their target price on Jazz Pharmaceuticals from $191.00 to $195.00 and gave the company an “outperform” rating in a report on Wednesday, February 25th. Finally, Wells Fargo & Company boosted their price target on Jazz Pharmaceuticals from $235.00 to $250.00 and gave the company an “overweight” rating in a research note on Wednesday, February 25th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Jazz Pharmaceuticals has an average rating of “Moderate Buy” and an average target price of $216.21.

Jazz Pharmaceuticals Stock Down 0.8%

The company has a debt-to-equity ratio of 1.00, a current ratio of 1.86 and a quick ratio of 1.67. The business has a fifty day moving average of $182.76 and a 200 day moving average of $166.08. The stock has a market cap of $12.18 billion, a price-to-earnings ratio of -33.14, a P/E/G ratio of 0.35 and a beta of 0.23.

Jazz Pharmaceuticals (NASDAQ:JAZZ) last announced its quarterly earnings results on Wednesday, February 25th. The specialty pharmaceutical company reported $6.64 EPS for the quarter, beating the consensus estimate of $6.49 by $0.15. Jazz Pharmaceuticals had a positive return on equity of 6.87% and a negative net margin of 8.35%.The company had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter last year, the company posted $6.51 earnings per share. The company’s revenue for the quarter was up 8.1% compared to the same quarter last year. On average, equities analysts predict that Jazz Pharmaceuticals PLC will post 16.96 earnings per share for the current year.

Insider Activity at Jazz Pharmaceuticals

In other Jazz Pharmaceuticals news, CAO Patricia Carr sold 1,287 shares of the stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $182.94, for a total transaction of $235,443.78. Following the transaction, the chief accounting officer owned 6,512 shares in the company, valued at $1,191,305.28. This trade represents a 16.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Neena M. Patil sold 55,600 shares of the stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $191.56, for a total value of $10,650,736.00. Following the transaction, the executive vice president owned 56,862 shares in the company, valued at approximately $10,892,484.72. This trade represents a 49.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 74,015 shares of company stock valued at $14,180,486. 4.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On Jazz Pharmaceuticals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Cardinal Capital Management boosted its position in shares of Jazz Pharmaceuticals by 0.5% in the fourth quarter. Cardinal Capital Management now owns 14,538 shares of the specialty pharmaceutical company’s stock valued at $2,471,000 after acquiring an additional 66 shares during the period. EverSource Wealth Advisors LLC boosted its position in shares of Jazz Pharmaceuticals by 9.0% in the third quarter. EverSource Wealth Advisors LLC now owns 983 shares of the specialty pharmaceutical company’s stock valued at $130,000 after acquiring an additional 81 shares during the period. UMB Bank n.a. boosted its position in shares of Jazz Pharmaceuticals by 12.6% in the fourth quarter. UMB Bank n.a. now owns 725 shares of the specialty pharmaceutical company’s stock valued at $123,000 after acquiring an additional 81 shares during the period. Tectonic Advisors LLC boosted its position in shares of Jazz Pharmaceuticals by 1.5% in the third quarter. Tectonic Advisors LLC now owns 5,626 shares of the specialty pharmaceutical company’s stock valued at $742,000 after acquiring an additional 82 shares during the period. Finally, Pinnacle Associates Ltd. boosted its position in shares of Jazz Pharmaceuticals by 0.7% in the fourth quarter. Pinnacle Associates Ltd. now owns 11,203 shares of the specialty pharmaceutical company’s stock valued at $1,905,000 after acquiring an additional 83 shares during the period. Institutional investors and hedge funds own 89.14% of the company’s stock.

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.