Jazz Pharmaceuticals’ (JAZZ) Buy Rating Reiterated at Needham & Company LLC

Jazz Pharmaceuticals (NASDAQ:JAZZ)‘s stock had its “buy” rating reaffirmed by Needham & Company LLC in a report issued on Wednesday,Benzinga reports. They currently have a $202.00 target price on the specialty pharmaceutical company’s stock. Needham & Company LLC’s price objective indicates a potential upside of 83.15% from the company’s previous close.

Other equities analysts have also recently issued research reports about the company. Wells Fargo & Company upgraded Jazz Pharmaceuticals from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $130.00 to $170.00 in a report on Thursday, February 13th. Barclays reiterated an “overweight” rating and set a $200.00 target price (up from $190.00) on shares of Jazz Pharmaceuticals in a research report on Thursday, February 27th. Cantor Fitzgerald cut shares of Jazz Pharmaceuticals from an “overweight” rating to a “neutral” rating and upped their price target for the stock from $140.00 to $150.00 in a report on Wednesday, February 26th. Royal Bank of Canada reduced their price target on shares of Jazz Pharmaceuticals from $182.00 to $172.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 7th. Finally, Wall Street Zen lowered shares of Jazz Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Thursday, May 15th. Two investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, Jazz Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus price target of $184.00.

Jazz Pharmaceuticals Stock Performance

Shares of NASDAQ:JAZZ opened at $110.29 on Wednesday. The company has a current ratio of 4.26, a quick ratio of 3.74 and a debt-to-equity ratio of 1.46. Jazz Pharmaceuticals has a 12 month low of $95.49 and a 12 month high of $148.06. The company has a market capitalization of $6.80 billion, a price-to-earnings ratio of 15.53, a PEG ratio of 1.04 and a beta of 0.33. The firm’s 50-day moving average is $107.72 and its 200 day moving average is $120.66.

Jazz Pharmaceuticals (NASDAQ:JAZZ) last announced its earnings results on Tuesday, May 6th. The specialty pharmaceutical company reported $1.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.65 by ($2.97). The business had revenue of $897.84 million for the quarter, compared to analysts’ expectations of $984.16 million. Jazz Pharmaceuticals had a net margin of 11.60% and a return on equity of 29.30%. The firm’s quarterly revenue was down .5% on a year-over-year basis. During the same quarter last year, the firm earned $2.68 EPS. Research analysts predict that Jazz Pharmaceuticals will post 16.96 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Bruce C. Cozadd sold 1,500 shares of the business’s stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $123.75, for a total value of $185,625.00. Following the completion of the transaction, the chief executive officer now directly owns 440,307 shares of the company’s stock, valued at approximately $54,487,991.25. The trade was a 0.34% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Seamus Mulligan acquired 100,000 shares of the firm’s stock in a transaction that occurred on Friday, May 9th. The shares were bought at an average price of $98.26 per share, with a total value of $9,826,000.00. Following the completion of the purchase, the director now directly owns 100,000 shares in the company, valued at $9,826,000. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold a total of 3,000 shares of company stock worth $355,925 in the last three months. Corporate insiders own 4.20% of the company’s stock.

Hedge Funds Weigh In On Jazz Pharmaceuticals

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Focus Partners Wealth purchased a new stake in shares of Jazz Pharmaceuticals during the fourth quarter valued at about $551,000. Summit Trail Advisors LLC purchased a new position in shares of Jazz Pharmaceuticals in the 4th quarter worth approximately $539,000. Atria Investments Inc raised its stake in shares of Jazz Pharmaceuticals by 19.5% during the 4th quarter. Atria Investments Inc now owns 2,732 shares of the specialty pharmaceutical company’s stock worth $336,000 after acquiring an additional 445 shares in the last quarter. Harvey Capital Management Inc. bought a new position in shares of Jazz Pharmaceuticals during the 4th quarter worth approximately $3,134,000. Finally, Charles Schwab Investment Management Inc. lifted its position in Jazz Pharmaceuticals by 15.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 615,517 shares of the specialty pharmaceutical company’s stock valued at $75,801,000 after acquiring an additional 83,807 shares during the last quarter. Hedge funds and other institutional investors own 89.14% of the company’s stock.

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.