Jazz Pharmaceuticals (NASDAQ:JAZZ) Now Covered by Analysts at Citigroup

Equities researchers at Citigroup assumed coverage on shares of Jazz Pharmaceuticals (NASDAQ:JAZZ) in a report released on Wednesday, MarketBeat Ratings reports. The brokerage set a “buy” rating and a $325.00 price target on the specialty pharmaceutical company’s stock. Citigroup’s price objective suggests a potential upside of 39.88% from the company’s current price.

Several other equities research analysts have also recently issued reports on the stock. Robert W. Baird lifted their target price on shares of Jazz Pharmaceuticals from $252.00 to $280.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 4th. Truist Financial increased their target price on shares of Jazz Pharmaceuticals from $264.00 to $281.00 and gave the company a “buy” rating in a research report on Wednesday, August 26th. Piper Sandler raised their price target on shares of Jazz Pharmaceuticals from $301.00 to $310.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 4th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Jazz Pharmaceuticals from $287.00 to $300.00 and gave the stock a “buy” rating in a research report on Wednesday, August 26th. Finally, Barclays upped their price objective on shares of Jazz Pharmaceuticals from $270.00 to $271.00 and gave the company an “overweight” rating in a research note on Thursday, September 10th. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $291.15.

Jazz Pharmaceuticals Price Performance

Shares of Jazz Pharmaceuticals stock opened at $232.35 on Wednesday. The stock has a market capitalization of $15.08 billion, a P/E ratio of 16.02, a PEG ratio of 0.21 and a beta of 0.36. The business has a 50 day simple moving average of $248.25 and a two-hundred day simple moving average of $228.58. Jazz Pharmaceuticals has a 12 month low of $128.49 and a 12 month high of $266.38. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.78 and a quick ratio of 1.58.

Jazz Pharmaceuticals (NASDAQ:JAZZ) last issued its quarterly earnings results on Monday, August 3rd. The specialty pharmaceutical company reported $5.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $6.18 by ($0.47). Jazz Pharmaceuticals had a return on equity of 33.97% and a net margin of 20.45%.The firm had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.11 billion. During the same period in the prior year, the firm earned ($8.25) earnings per share. The business’s revenue was up 15.5% on a year-over-year basis. As a group, analysts predict that Jazz Pharmaceuticals will post 21.61 EPS for the current fiscal year.

Insider Activity

In other Jazz Pharmaceuticals news, EVP Neena Patil sold 1,200 shares of Jazz Pharmaceuticals stock in a transaction dated Thursday, September 10th. The shares were sold at an average price of $240.94, for a total transaction of $289,128.00. Following the transaction, the executive vice president directly owned 47,671 shares of the company’s stock, valued at $11,485,850.74. The trade was a 2.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bruce Cozadd sold 6,000 shares of the business’s stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $250.13, for a total transaction of $1,500,780.00. Following the completion of the transaction, the director owned 351,875 shares in the company, valued at $88,014,493.75. The trade was a 1.68% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 92,121 shares of company stock valued at $23,001,022 in the last ninety days. 4.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in JAZZ. USA Financial Formulas purchased a new stake in Jazz Pharmaceuticals in the first quarter valued at $25,000. Ameritas Advisory Services LLC purchased a new position in shares of Jazz Pharmaceuticals during the 2nd quarter worth $47,000. Westpac Banking Corp purchased a new position in shares of Jazz Pharmaceuticals during the 1st quarter worth $51,000. Root Financial Partners LLC increased its position in shares of Jazz Pharmaceuticals by 42.8% during the 1st quarter. Root Financial Partners LLC now owns 297 shares of the specialty pharmaceutical company’s stock worth $56,000 after purchasing an additional 89 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Jazz Pharmaceuticals during the 2nd quarter worth about $61,000. 89.14% of the stock is currently owned by hedge funds and other institutional investors.

About Jazz Pharmaceuticals

Jazz Pharmaceuticals plc is a biopharmaceutical company focused on developing and commercializing medicines for patients with serious neurological and oncology-related conditions. Founded in 2003 and headquartered in Dublin, Ireland, the company operates internationally, with a significant commercial presence in the United States and other markets.

Jazz’s neuroscience portfolio includes Xywav and Xyrem, which contain oxybate and are used to treat narcolepsy-related symptoms; Xywav is also approved for idiopathic hypersomnia in adults.