Jazz Pharmaceuticals (NASDAQ:JAZZ) Price Target Cut to $191.00

Jazz Pharmaceuticals (NASDAQ:JAZZGet Rating) had its price target cut by research analysts at UBS Group from $194.00 to $191.00 in a research report issued to clients and investors on Thursday, MarketBeat.com reports. The brokerage currently has a “buy” rating on the specialty pharmaceutical company’s stock. UBS Group’s price objective would suggest a potential upside of 24.25% from the company’s current price.

Other research analysts also recently issued reports about the company. The Goldman Sachs Group downgraded Jazz Pharmaceuticals from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $202.00 to $196.00 in a report on Wednesday, April 6th. Morgan Stanley lifted their price target on Jazz Pharmaceuticals from $174.00 to $187.00 and gave the company an “equal weight” rating in a research note on Thursday. Cowen raised their price objective on Jazz Pharmaceuticals from $200.00 to $225.00 in a report on Thursday, May 5th. Piper Sandler dropped their price objective on Jazz Pharmaceuticals from $197.00 to $193.00 in a research note on Thursday, May 5th. Finally, StockNews.com lowered Jazz Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Tuesday. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, Jazz Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus price target of $203.69.

Jazz Pharmaceuticals Price Performance

Shares of NASDAQ JAZZ opened at $153.72 on Thursday. The company has a quick ratio of 2.06, a current ratio of 3.67 and a debt-to-equity ratio of 1.87. Jazz Pharmaceuticals has a 12 month low of $117.64 and a 12 month high of $169.98. The business’s 50 day moving average is $153.10 and its two-hundred day moving average is $151.63.

Jazz Pharmaceuticals (NASDAQ:JAZZGet Rating) last announced its quarterly earnings results on Wednesday, May 4th. The specialty pharmaceutical company reported $3.13 EPS for the quarter, beating the consensus estimate of $3.00 by $0.13. Jazz Pharmaceuticals had a positive return on equity of 25.50% and a negative net margin of 1.49%. The business had revenue of $813.72 million for the quarter, compared to analyst estimates of $853.73 million. During the same quarter in the previous year, the firm earned $3.42 EPS. Jazz Pharmaceuticals’s quarterly revenue was up 33.9% on a year-over-year basis. On average, analysts predict that Jazz Pharmaceuticals will post 14.83 earnings per share for the current year.

Insider Activity at Jazz Pharmaceuticals

In other Jazz Pharmaceuticals news, SVP Samantha Pearce sold 8,487 shares of the stock in a transaction on Wednesday, June 8th. The shares were sold at an average price of $155.00, for a total transaction of $1,315,485.00. Following the transaction, the senior vice president now directly owns 11,309 shares of the company’s stock, valued at $1,752,895. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CEO Bruce C. Cozadd sold 6,362 shares of the firm’s stock in a transaction dated Wednesday, June 1st. The shares were sold at an average price of $146.87, for a total value of $934,386.94. Following the transaction, the chief executive officer now directly owns 351,987 shares of the company’s stock, valued at $51,696,330.69. 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 dated Wednesday, June 8th. The stock was sold at an average price of $155.00, for a total transaction of $1,315,485.00. Following the completion of the transaction, the senior vice president now directly owns 11,309 shares in the company, valued at $1,752,895. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 51,564 shares of company stock worth $7,949,626. 4.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On Jazz Pharmaceuticals

Several hedge funds and other institutional investors have recently bought and sold shares of JAZZ. Goldman Sachs Group Inc. increased its position in Jazz Pharmaceuticals by 638.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,310,729 shares of the specialty pharmaceutical company’s stock worth $166,987,000 after purchasing an additional 1,133,121 shares during the last quarter. Deep Track Capital LP acquired a new stake in Jazz Pharmaceuticals during the fourth quarter worth about $63,700,000. Millennium Management LLC acquired a new stake in Jazz Pharmaceuticals during the fourth quarter worth about $56,159,000. JPMorgan Chase & Co. increased its position in Jazz Pharmaceuticals by 11.2% during the fourth quarter. JPMorgan Chase & Co. now owns 3,221,792 shares of the specialty pharmaceutical company’s stock worth $410,457,000 after purchasing an additional 325,479 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. increased its position in Jazz Pharmaceuticals by 47.8% during the fourth 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 purchasing an additional 242,606 shares during the last quarter. 93.23% of the stock is currently owned by institutional investors and hedge funds.

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.

Further Reading

Analyst Recommendations for Jazz Pharmaceuticals (NASDAQ:JAZZ)

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