Jazz Pharmaceuticals (NASDAQ:JAZZ) Reaches New 12-Month High – What’s Next?

Jazz Pharmaceuticals PLC (NASDAQ:JAZZ) reached a new 52-week high on Monday . The company traded as high as $257.00 and last traded at $255.89, with a volume of 174866 shares. The stock had previously closed at $253.87.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Deutsche Bank Aktiengesellschaft increased their price objective on Jazz Pharmaceuticals from $250.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday, July 9th. Morgan Stanley reissued an “overweight” rating and issued a $245.00 target price on shares of Jazz Pharmaceuticals in a research note on Thursday, May 7th. Piper Sandler upped their target price on shares of Jazz Pharmaceuticals from $232.00 to $301.00 and gave the company an “overweight” rating in a report on Friday, May 22nd. TD Cowen raised their price target on shares of Jazz Pharmaceuticals from $220.00 to $275.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Finally, Truist Financial lowered their price target on shares of Jazz Pharmaceuticals from $256.00 to $254.00 and set a “buy” rating for the company in a report on Tuesday, July 7th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, Jazz Pharmaceuticals has a consensus rating of “Moderate Buy” and an average target price of $259.06.

Jazz Pharmaceuticals Trading Up 0.8%

The business has a 50 day simple moving average of $237.37 and a 200-day simple moving average of $203.44. The company has a current ratio of 2.04, a quick ratio of 1.85 and a debt-to-equity ratio of 0.95. The stock has a market capitalization of $16.07 billion, a price-to-earnings ratio of -12,783.61, a price-to-earnings-growth ratio of 0.22 and a beta of 0.32.

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

Insider Activity at Jazz Pharmaceuticals

In other Jazz Pharmaceuticals news, Director Rick E. Winningham sold 2,741 shares of Jazz Pharmaceuticals stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $241.57, for a total value of $662,143.37. Following the transaction, the director owned 9,567 shares in the company, valued at $2,311,100.19. This trade represents a 22.27% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Mark Douglas Smith sold 1,157 shares of the business’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $230.55, for a total transaction of $266,746.35. Following the sale, the director directly 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. 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 13,098 shares of company stock valued at $3,131,906 over the last 90 days. 4.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Jazz Pharmaceuticals

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Royal Bank of Canada lifted its stake in shares of Jazz Pharmaceuticals by 96.5% in the 1st quarter. Royal Bank of Canada now owns 67,614 shares of the specialty pharmaceutical company’s stock valued at $8,394,000 after purchasing an additional 33,210 shares in the last quarter. Goldman Sachs Group Inc. increased its position in Jazz Pharmaceuticals by 147.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 351,609 shares of the specialty pharmaceutical company’s stock worth $43,652,000 after purchasing an additional 209,667 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Jazz Pharmaceuticals by 4.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 197,174 shares of the specialty pharmaceutical company’s stock valued at $24,479,000 after buying an additional 7,954 shares during the period. Focus Partners Wealth raised its holdings in Jazz Pharmaceuticals by 3.4% in the first quarter. Focus Partners Wealth now owns 4,623 shares of the specialty pharmaceutical company’s stock valued at $574,000 after buying an additional 154 shares during the period. Finally, Geneos Wealth Management Inc. lifted its position in Jazz Pharmaceuticals by 57.6% during the first quarter. Geneos Wealth Management Inc. now owns 375 shares of the specialty pharmaceutical company’s stock valued at $47,000 after buying an additional 137 shares in the last quarter. 89.14% of the stock is currently owned by institutional investors and hedge funds.

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.