Jazz Pharmaceuticals (NASDAQ:JAZZ) Price Target Raised to $282.00

Jazz Pharmaceuticals (NASDAQ:JAZZ) had its target price increased by Needham & Company LLC from $255.00 to $282.00 in a report released on Monday morning,Benzinga reports. Needham & Company LLC currently has a buy rating on the specialty pharmaceutical company’s stock.

Other equities analysts have also issued reports about the company. Royal Bank Of Canada boosted their target price on Jazz Pharmaceuticals from $195.00 to $258.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 6th. Sanford C. Bernstein reissued a “market perform” rating on shares of Jazz Pharmaceuticals in a research note on Tuesday, June 9th. Weiss Ratings upgraded shares of Jazz Pharmaceuticals from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, June 29th. Barclays upped their target price on shares of Jazz Pharmaceuticals from $253.00 to $260.00 and gave the company an “overweight” rating in a research note on Tuesday, July 14th. Finally, Raymond James Financial reiterated an “outperform” rating and issued a $239.00 target price on shares of Jazz Pharmaceuticals in a report on Wednesday, May 6th. One 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’s stock. According to MarketBeat, Jazz Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus price target of $259.06.

Jazz Pharmaceuticals Stock Performance

Shares of Jazz Pharmaceuticals stock opened at $250.41 on Monday. The firm has a fifty day moving average of $236.40 and a two-hundred day moving average of $202.31. The stock has a market capitalization of $15.73 billion, a price-to-earnings ratio of -12,514.24, a PEG ratio of 0.22 and a beta of 0.32. Jazz Pharmaceuticals has a 52 week low of $105.00 and a 52 week high of $255.20. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.85 and a current ratio of 2.04.

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

Insider Buying and Selling at Jazz Pharmaceuticals

In other 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 transaction 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 position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mark Douglas Smith sold 1,157 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $230.55, for a total value of $266,746.35. Following the completion of the transaction, the director owned 9,680 shares of the company’s stock, valued at $2,231,724. This represents a 10.68% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 13,098 shares of company stock worth $3,131,906 over the last three months. Company insiders own 4.10% of the company’s stock.

Institutional Investors Weigh In On Jazz Pharmaceuticals

Several large investors have recently made changes to their positions in the stock. Vestal Point Capital LP bought a new stake in Jazz Pharmaceuticals in the 2nd quarter valued at $127,344,000. Franklin Resources Inc. boosted its stake 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 purchasing an additional 1,129,995 shares during the period. Bank of New York Mellon Corp increased its holdings in Jazz Pharmaceuticals by 160.2% during the 4th quarter. Bank of New York Mellon Corp now owns 1,161,857 shares of the specialty pharmaceutical company’s stock worth $197,516,000 after purchasing an additional 715,361 shares in the last quarter. Adage Capital Partners GP L.L.C. increased its holdings in Jazz Pharmaceuticals by 258.2% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 548,000 shares of the specialty pharmaceutical company’s stock worth $93,160,000 after purchasing an additional 395,000 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC raised its stake in shares of Jazz Pharmaceuticals by 592.1% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 436,443 shares of the specialty pharmaceutical company’s stock valued at $57,523,000 after purchasing an additional 373,383 shares during the period. Institutional investors own 89.14% of the company’s stock.

About Jazz Pharmaceuticals

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.