Jazz Pharmaceuticals (NASDAQ:JAZZ) Sees Strong Trading Volume on Analyst Upgrade

Jazz Pharmaceuticals plc (NASDAQ:JAZZ) saw strong trading volume on Wednesday after JPMorgan Chase & Co. raised their price target on the stock from $200.00 to $209.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. 1,787,968 shares changed hands during trading, an increase of 167% from the previous session’s volume of 669,349 shares.The stock last traded at $144.26 and had previously closed at $139.67.

JAZZ has been the subject of a number of other research reports. Robert W. Baird upped their target price on Jazz Pharmaceuticals from $154.00 to $162.00 and gave the stock an “outperform” rating in a report on Monday, November 18th. Piper Sandler reaffirmed an “overweight” rating and set a $163.00 price target on shares of Jazz Pharmaceuticals in a research report on Thursday, December 12th. TD Cowen reduced their price target on Jazz Pharmaceuticals from $200.00 to $195.00 and set a “buy” rating on the stock in a research report on Thursday, November 7th. Wells Fargo & Company raised Jazz Pharmaceuticals from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $130.00 to $170.00 in a research report on Thursday, February 13th. Finally, Morgan Stanley raised Jazz Pharmaceuticals from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $140.00 to $175.00 in a research report on Thursday, December 12th. Two analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $182.47.

Insider Activity at Jazz Pharmaceuticals

In other Jazz Pharmaceuticals news, CEO Bruce C. Cozadd sold 1,500 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $123.43, for a total value of $185,145.00. Following the sale, the chief executive officer now directly owns 425,525 shares of the company’s stock, valued at approximately $52,522,550.75. This represents a 0.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold a total of 5,053 shares of company stock valued at $617,442 in the last ninety days. Company insiders own 4.20% of the company’s stock.

Institutional Investors Weigh In On Jazz Pharmaceuticals

Hedge funds have recently added to or reduced their stakes in the business. IFP Advisors Inc purchased a new stake in Jazz Pharmaceuticals in the fourth quarter valued at $25,000. Quadrant Capital Group LLC boosted its holdings in Jazz Pharmaceuticals by 97.1% in the fourth quarter. Quadrant Capital Group LLC now owns 205 shares of the specialty pharmaceutical company’s stock valued at $25,000 after purchasing an additional 101 shares during the last quarter. Elequin Capital LP boosted its holdings in Jazz Pharmaceuticals by 677.8% in the fourth quarter. Elequin Capital LP now owns 210 shares of the specialty pharmaceutical company’s stock valued at $26,000 after purchasing an additional 183 shares during the last quarter. CoreFirst Bank & Trust purchased a new stake in Jazz Pharmaceuticals in the fourth quarter valued at $28,000. Finally, Allianz SE purchased a new stake in Jazz Pharmaceuticals in the fourth quarter valued at $29,000. 89.14% of the stock is owned by hedge funds and other institutional investors.

Jazz Pharmaceuticals Stock Performance

The company has a debt-to-equity ratio of 1.46, a current ratio of 4.26 and a quick ratio of 3.74. The company has a market capitalization of $8.72 billion, a PE ratio of 20.31, a price-to-earnings-growth ratio of 1.04 and a beta of 0.56. The firm’s fifty day simple moving average is $125.42 and its 200 day simple moving average is $118.44.

Jazz Pharmaceuticals Company Profile

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.