Shares of Jazz Pharmaceuticals PLC (NASDAQ:JAZZ – Get Free Report) hit a new 52-week high during trading on Wednesday . The company traded as high as $249.64 and last traded at $247.72, with a volume of 1056204 shares. The stock had previously closed at $244.17.
Wall Street Analyst Weigh In
Several equities research analysts recently issued reports on the stock. Truist Financial dropped their target price on shares of Jazz Pharmaceuticals from $256.00 to $254.00 and set a “buy” rating on the stock in a report on Tuesday. Leerink Partners boosted their target price on shares of Jazz Pharmaceuticals from $215.00 to $225.00 and gave the company an “outperform” rating in a research note on Wednesday, April 22nd. Piper Sandler increased their price target on Jazz Pharmaceuticals from $232.00 to $301.00 and gave the company an “overweight” rating in a report on Friday, May 22nd. Wells Fargo & Company raised their price target on Jazz Pharmaceuticals from $250.00 to $265.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. Finally, Weiss Ratings raised Jazz Pharmaceuticals from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, June 29th. Sixteen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, Jazz Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average target price of $252.88.
Read Our Latest Stock Analysis on Jazz Pharmaceuticals
Jazz Pharmaceuticals Stock Down 0.5%
Jazz Pharmaceuticals (NASDAQ:JAZZ – Get Free Report) last posted its quarterly earnings data on Tuesday, March 31st. The specialty pharmaceutical company reported $6.34 EPS for the quarter. The firm had revenue of $1.07 billion for the quarter. Jazz Pharmaceuticals had a return on equity of 14.56% and a net margin of 0.66%. On average, equities analysts anticipate that Jazz Pharmaceuticals PLC will post 21.9 earnings per share for the current year.
Insiders Place Their Bets
In other news, Director Mark Douglas Smith sold 1,157 shares of the firm’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $230.55, for a total transaction of $266,746.35. Following the sale, the director directly owned 9,680 shares in the company, valued at $2,231,724. This trade represents a 10.68% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bruce C. Cozadd sold 6,000 shares of Jazz Pharmaceuticals stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $240.47, for a total transaction of $1,442,820.00. Following the transaction, the director owned 366,682 shares in the company, valued at approximately $88,176,020.54. This trade represents a 1.61% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 13,098 shares of company stock valued at $3,131,906. Insiders own 4.10% of the company’s stock.
Institutional Investors Weigh In On Jazz Pharmaceuticals
Institutional investors have recently added to or reduced their stakes in the stock. Vestal Point Capital LP purchased a new position in shares of Jazz Pharmaceuticals in the second quarter worth $127,344,000. Goldentree Asset Management LP purchased a new position in Jazz Pharmaceuticals during the third quarter valued at $149,597,000. Franklin Resources Inc. increased its holdings in Jazz Pharmaceuticals by 164.0% in the 4th quarter. Franklin Resources Inc. now owns 1,818,911 shares of the specialty pharmaceutical company’s stock valued at $309,215,000 after acquiring an additional 1,129,995 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in Jazz Pharmaceuticals by 160.2% in the 4th quarter. Bank of New York Mellon Corp now owns 1,161,857 shares of the specialty pharmaceutical company’s stock valued at $197,516,000 after acquiring an additional 715,361 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. lifted its stake in Jazz Pharmaceuticals by 258.2% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 548,000 shares of the specialty pharmaceutical company’s stock worth $93,160,000 after purchasing an additional 395,000 shares in the last quarter. 89.14% of the stock is owned by hedge funds and other institutional investors.
Jazz Pharmaceuticals Company Profile
Jazz Pharmaceuticals plc is a global biopharmaceutical company focused on developing and commercializing therapies in neuroscience and oncology. The company’s research and development efforts target unmet medical needs in sleep disorders, hematologic malignancies, rare neurological conditions and solid tumors. Jazz’s product portfolio includes therapies for narcolepsy, hepatic veno-occlusive disease, acute myeloid leukemia and other serious disorders.
Flagship products from Jazz Pharmaceuticals include Xyrem® (sodium oxybate) and Xywav® (calcium, magnesium, potassium, and sodium oxybates) for the treatment of cataplexy and excessive daytime sleepiness in patients with narcolepsy.
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