Jazz Pharmaceuticals (NASDAQ:JAZZ) Hits New 52-Week High After Analyst Upgrade

Jazz Pharmaceuticals PLC (NASDAQ:JAZZ) reached a new 52-week high during trading on Tuesday after Needham & Company LLC raised their price target on the stock from $255.00 to $282.00. Needham & Company LLC currently has a buy rating on the stock. Jazz Pharmaceuticals traded as high as $250.85 and last traded at $250.4050, with a volume of 166153 shares. The stock had previously closed at $243.47.

Several other analysts also recently weighed in on JAZZ. Canaccord Genuity Group assumed coverage on Jazz Pharmaceuticals in a report on Thursday. They issued a “buy” rating and a $290.00 price objective for the company. Raymond James Financial reiterated an “outperform” rating and set a $239.00 target price on shares of Jazz Pharmaceuticals in a report on Wednesday, May 6th. Barclays raised their target price on shares of Jazz Pharmaceuticals from $253.00 to $260.00 and gave the company an “overweight” rating in a research report on Tuesday, July 14th. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of Jazz Pharmaceuticals in a research report on Tuesday, June 9th. Finally, Morgan Stanley reiterated an “overweight” rating and set a $245.00 price objective on shares of Jazz Pharmaceuticals in a research note on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, Jazz Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average price target of $259.06.

Insider Activity at Jazz Pharmaceuticals

In other Jazz Pharmaceuticals news, Director Bruce C. Cozadd sold 6,000 shares of Jazz Pharmaceuticals stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $240.47, for a total value of $1,442,820.00. Following the transaction, the director owned 366,682 shares in the company, valued at $88,176,020.54. The trade was a 1.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Neena M. Patil sold 1,200 shares of the firm’s stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $231.83, for a total transaction of $278,196.00. Following the completion of the sale, the executive vice president owned 51,549 shares in the company, valued at $11,950,604.67. This represents a 2.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 13,098 shares of company stock valued at $3,131,906 over the last 90 days. Company insiders own 4.10% of the company’s stock.

Institutional Trading of Jazz Pharmaceuticals

Institutional investors have recently made changes to their positions in the business. Hilltop National Bank purchased a new stake in Jazz Pharmaceuticals in the fourth quarter valued at about $36,000. LRI Investments LLC acquired a new position in Jazz Pharmaceuticals during the 4th quarter valued at approximately $38,000. Danske Bank A S acquired a new position in shares of Jazz Pharmaceuticals in the third quarter valued at about $40,000. Geneos Wealth Management Inc. increased its holdings in shares of Jazz Pharmaceuticals by 57.6% in the first quarter. Geneos Wealth Management Inc. now owns 375 shares of the specialty pharmaceutical company’s stock valued at $47,000 after purchasing an additional 137 shares during the period. Finally, Caitong International Asset Management Co. Ltd raised its stake in shares of Jazz Pharmaceuticals by 1,383.3% in the third 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 during the last quarter. Institutional investors and hedge funds own 89.14% of the company’s stock.

Jazz Pharmaceuticals Price Performance

The company has a debt-to-equity ratio of 0.95, a current ratio of 2.04 and a quick ratio of 1.85. The stock has a market cap of $15.71 billion, a price-to-earnings ratio of -12,500.00, a P/E/G ratio of 0.22 and a beta of 0.32. The stock has a fifty day moving average of $235.51 and a 200 day moving average of $201.15.

Jazz Pharmaceuticals (NASDAQ:JAZZ) last issued its quarterly earnings results on Tuesday, March 31st. The specialty pharmaceutical company reported $6.34 earnings per share for the quarter. Jazz Pharmaceuticals had a net margin of 0.66% and a return on equity of 14.56%. The company had revenue of $1.07 billion for the quarter. On average, analysts expect that Jazz Pharmaceuticals PLC will post 21.9 EPS for the current fiscal year.

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.