Jazz Pharmaceuticals (NASDAQ:JAZZ) Receives “Overweight” Rating from Morgan Stanley

Jazz Pharmaceuticals (NASDAQ:JAZZ)‘s stock had its “overweight” rating restated by Morgan Stanley in a research note issued to investors on Friday,Benzinga reports. They currently have a $183.00 target price on the specialty pharmaceutical company’s stock, up from their prior target price of $175.00. Morgan Stanley’s price objective would indicate a potential upside of 31.38% from the company’s current price.

A number of other equities analysts also recently issued reports on the stock. Truist Financial lifted their price objective on shares of Jazz Pharmaceuticals from $220.00 to $230.00 and gave the stock a “buy” rating in a report on Thursday. Piper Sandler reiterated an “overweight” rating and issued a $176.00 target price (up previously from $163.00) on shares of Jazz Pharmaceuticals in a research note on Wednesday, February 26th. Cantor Fitzgerald cut shares of Jazz Pharmaceuticals from an “overweight” rating to a “neutral” rating and increased their target price for the stock from $140.00 to $150.00 in a research note on Wednesday, February 26th. Robert W. Baird raised their price target on Jazz Pharmaceuticals from $154.00 to $162.00 and gave the company an “outperform” rating in a report on Monday, November 18th. Finally, TD Cowen decreased their price objective on shares of Jazz Pharmaceuticals from $200.00 to $195.00 and set a “buy” rating on the stock in a research report on Thursday, November 7th. One analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $189.40.

Jazz Pharmaceuticals Trading Up 2.1 %

Shares of NASDAQ JAZZ traded up $2.84 during midday trading on Friday, reaching $139.29. The stock had a trading volume of 497,795 shares, compared to its average volume of 746,949. The company’s 50 day moving average price is $127.85 and its 200 day moving average price is $119.83. Jazz Pharmaceuticals has a twelve month low of $99.06 and a twelve month high of $148.06. The company has a debt-to-equity ratio of 1.46, a quick ratio of 3.74 and a current ratio of 4.26. The firm has a market cap of $8.46 billion, a price-to-earnings ratio of 19.59, a price-to-earnings-growth ratio of 1.04 and a beta of 0.56.

Insider Transactions at Jazz Pharmaceuticals

In related news, CAO Patricia Carr sold 4,813 shares of the company’s stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $144.42, for a total value of $695,093.46. Following the completion of the sale, the chief accounting officer now owns 8,237 shares of the company’s stock, valued at approximately $1,189,587.54. This represents a 36.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Bruce C. Cozadd sold 6,500 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $144.25, for a total value of $937,625.00. Following the transaction, the chief executive officer now owns 464,058 shares of the company’s stock, valued at approximately $66,940,366.50. This represents a 1.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 18,113 shares of company stock worth $2,551,834 over the last 90 days. 4.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. LSV Asset Management increased its stake in Jazz Pharmaceuticals by 1.5% in the fourth quarter. LSV Asset Management now owns 2,531,050 shares of the specialty pharmaceutical company’s stock valued at $311,699,000 after purchasing an additional 37,108 shares during the period. Pacer Advisors Inc. increased its position in Jazz Pharmaceuticals by 5.5% during the fourth quarter. Pacer Advisors Inc. now owns 2,214,480 shares of the specialty pharmaceutical company’s stock worth $272,713,000 after purchasing an additional 115,102 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Jazz Pharmaceuticals by 18.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,035,070 shares of the specialty pharmaceutical company’s stock valued at $250,619,000 after buying an additional 320,724 shares during the period. Capital World Investors lifted its position in Jazz Pharmaceuticals by 5.7% during the 4th quarter. Capital World Investors now owns 1,923,342 shares of the specialty pharmaceutical company’s stock worth $236,860,000 after acquiring an additional 104,195 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its position in shares of Jazz Pharmaceuticals by 20.9% during the fourth quarter. Ameriprise Financial Inc. now owns 1,827,658 shares of the specialty pharmaceutical company’s stock worth $225,076,000 after acquiring an additional 315,608 shares during the last quarter. Institutional investors and hedge funds own 89.14% of the company’s stock.

About Jazz Pharmaceuticals

Jazz Pharmaceuticals plc identifies, develops, and commercializes pharmaceutical products for unmet medical needs in the United States, Europe, and internationally. The company offers Xywav for cataplexy or excessive daytime sleepiness (EDS) with narcolepsy and idiopathic hypersomnia; Xyrem to treat cataplexy or EDS with narcolepsy; Epidiolex for seizures associated with Lennox-Gastaut and Dravet syndromes, or tuberous sclerosis complex; Zepzelca to treat metastatic small cell lung cancer, or with disease progression on or after platinum-based chemotherapy; Rylaze for acute lymphoblastic leukemia or lymphoblastic lymphoma; Enrylaze to treat acute lymphoblastic leukemia and lymphoblastic lymphoma; Defitelio to treat severe hepatic veno-occlusive disease; and Vyxeos for newly-diagnosed therapy-related acute myeloid leukemia.