Jazz Pharmaceuticals (NASDAQ:JAZZ) Downgraded by StockNews.com to Hold

StockNews.com cut shares of Jazz Pharmaceuticals (NASDAQ:JAZZGet Rating) from a buy rating to a hold rating in a report published on Tuesday morning.

JAZZ has been the topic of several other research reports. UBS Group assumed coverage on shares of Jazz Pharmaceuticals in a report on Monday, June 13th. They issued a buy rating and a $194.00 target price on the stock. Cowen raised their price objective on shares of Jazz Pharmaceuticals from $200.00 to $225.00 in a report on Thursday, May 5th. Cowen raised their price objective on shares of Jazz Pharmaceuticals from $200.00 to $225.00 in a report on Thursday, May 5th. Piper Sandler cut their price objective on shares of Jazz Pharmaceuticals from $197.00 to $193.00 in a report on Thursday, May 5th. Finally, The Goldman Sachs Group cut shares of Jazz Pharmaceuticals from a buy rating to a neutral rating and cut their price objective for the stock from $202.00 to $196.00 in a report on Wednesday, April 6th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus price target of $202.92.

Jazz Pharmaceuticals Stock Up 1.1 %

Shares of JAZZ opened at $152.75 on Tuesday. The company’s 50-day simple moving average is $153.00 and its 200-day simple moving average is $151.51. The stock has a market capitalization of $9.54 billion, a PE ratio of -20.34, a P/E/G ratio of 1.30 and a beta of 0.69. Jazz Pharmaceuticals has a 1 year low of $117.64 and a 1 year high of $171.78. The company has a debt-to-equity ratio of 1.66, a quick ratio of 2.06 and a current ratio of 3.39.

Jazz Pharmaceuticals (NASDAQ:JAZZGet Rating) last issued its earnings results on Wednesday, May 4th. The specialty pharmaceutical company reported $3.13 earnings per share for the quarter, beating the consensus estimate of $3.00 by $0.13. The firm had revenue of $813.72 million for the quarter, compared to analysts’ expectations of $853.73 million. Jazz Pharmaceuticals had a negative net margin of 13.63% and a positive return on equity of 22.45%. The firm’s revenue was up 33.9% compared to the same quarter last year. During the same quarter last year, the company earned $3.42 earnings per share. Analysts forecast that Jazz Pharmaceuticals will post 14.74 earnings per share for the current fiscal year.

Insider Activity at Jazz Pharmaceuticals

In related news, SVP Finbar Larkin sold 1,747 shares of Jazz Pharmaceuticals stock in a transaction on Monday, May 9th. The shares were sold at an average price of $148.94, for a total value of $260,198.18. Following the transaction, the senior vice president now directly owns 19,462 shares in the company, valued at approximately $2,898,670.28. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, SVP Finbar Larkin sold 1,747 shares of Jazz Pharmaceuticals stock in a transaction on Monday, May 9th. The shares were sold at an average price of $148.94, for a total value of $260,198.18. Following the transaction, the senior vice president now directly owns 19,462 shares in the company, valued at approximately $2,898,670.28. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Samantha Pearce sold 8,487 shares of the firm’s stock in a transaction on Wednesday, June 8th. The shares were sold at an average price of $155.00, for a total value of $1,315,485.00. Following the completion of the sale, the senior vice president now directly owns 11,309 shares of the company’s stock, valued at approximately $1,752,895. The disclosure for this sale can be found here. Insiders have sold a total of 44,559 shares of company stock worth $6,868,569 in the last three months. Insiders own 4.40% of the company’s stock.

Institutional Investors Weigh In On Jazz Pharmaceuticals

A number of hedge funds and other institutional investors have recently bought and sold shares of JAZZ. Goldman Sachs Group Inc. lifted its holdings in Jazz Pharmaceuticals by 638.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,310,729 shares of the specialty pharmaceutical company’s stock valued at $166,987,000 after acquiring an additional 1,133,121 shares during the period. Deep Track Capital LP acquired a new stake in Jazz Pharmaceuticals in the fourth quarter valued at $63,700,000. Millennium Management LLC acquired a new position in shares of Jazz Pharmaceuticals during the 4th quarter worth $56,159,000. JPMorgan Chase & Co. raised its stake in shares of Jazz Pharmaceuticals by 11.2% during the 4th quarter. JPMorgan Chase & Co. now owns 3,221,792 shares of the specialty pharmaceutical company’s stock worth $410,457,000 after buying an additional 325,479 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. raised its stake in shares of Jazz Pharmaceuticals by 47.8% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 750,000 shares of the specialty pharmaceutical company’s stock worth $95,550,000 after buying an additional 242,606 shares during the last quarter. Institutional investors and hedge funds own 93.23% of the company’s stock.

About Jazz Pharmaceuticals

(Get Rating)

Jazz Pharmaceuticals plc, a biopharmaceutical company, identifies, develops, and commercializes pharmaceutical products for various unmet medical needs in the United States, Europe, and internationally. The company has a portfolio of products and product candidates with a focus in the areas of neuroscience, including sleep medicine and movement disorders; and in oncology, including hematologic and solid tumors.

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