Wall Street Zen downgraded shares of Jazz Pharmaceuticals (NASDAQ:JAZZ – Free Report) from a buy rating to a hold rating in a report released on Saturday morning,Wall Street Zen reports.
Several other equities research analysts have also weighed in on the company. Stifel Nicolaus set a $275.00 price objective on Jazz Pharmaceuticals in a research note on Tuesday, August 4th. Deutsche Bank Aktiengesellschaft boosted their target price on Jazz Pharmaceuticals from $287.00 to $300.00 and gave the stock a “buy” rating in a research report on Wednesday, August 26th. JPMorgan Chase & Co. upped their target price on Jazz Pharmaceuticals from $300.00 to $310.00 and gave the company an “overweight” rating in a report on Tuesday, November 3rd. Robert W. Baird increased their price target on Jazz Pharmaceuticals from $252.00 to $280.00 and gave the company an “outperform” rating in a research report on Tuesday, August 4th. Finally, Royal Bank Of Canada lifted their price target on Jazz Pharmaceuticals from $296.00 to $305.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 3rd. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, Jazz Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average price target of $293.00.
View Our Latest Stock Analysis on JAZZ
Jazz Pharmaceuticals Stock Up 3.7%
JAZZ stock opened at $243.54 on Friday. Jazz Pharmaceuticals has a 12 month low of $132.10 and a 12 month high of $266.38. The firm has a market cap of $15.63 billion, a PE ratio of 20.80, a P/E/G ratio of 0.47 and a beta of 0.38. The firm has a 50 day simple moving average of $229.37 and a 200 day simple moving average of $218.11. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.82 and a quick ratio of 1.58.
Jazz Pharmaceuticals (NASDAQ:JAZZ – Get Free Report) last posted its quarterly earnings results on Monday, November 2nd. The specialty pharmaceutical company reported ($3.88) earnings per share (EPS) for the quarter, topping the consensus estimate of ($4.03) by $0.15. The firm had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.21 billion. Jazz Pharmaceuticals had a net margin of 4.37% and a return on equity of 16.88%. The firm’s quarterly revenue was up 10.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $8.13 earnings per share. Equities research analysts forecast that Jazz Pharmaceuticals will post 11.08 earnings per share for the current fiscal year.
Insider Transactions at Jazz Pharmaceuticals
In related news, EVP Neena Patil sold 1,200 shares of the firm’s stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $240.94, for a total value of $289,128.00. Following the completion of the transaction, the executive vice president owned 47,671 shares of the company’s stock, valued at approximately $11,485,850.74. This trade represents a 2.46% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Renée Galá sold 2,000 shares of Jazz Pharmaceuticals stock in a transaction that occurred on Tuesday, September 8th. The stock was sold at an average price of $243.03, for a total transaction of $486,060.00. Following the transaction, the chief executive officer owned 143,394 shares in the company, valued at approximately $34,849,043.82. The trade was a 1.38% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 102,534 shares of company stock worth $25,185,243. 4.10% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently modified their holdings of JAZZ. Bank of New York Mellon Corp raised its position in Jazz Pharmaceuticals by 44.5% during the first quarter. Bank of New York Mellon Corp now owns 1,679,371 shares of the specialty pharmaceutical company’s stock valued at $317,485,000 after buying an additional 517,514 shares during the period. Bank of America Corp DE boosted its position in Jazz Pharmaceuticals by 10.9% during the 1st quarter. Bank of America Corp DE now owns 1,014,800 shares of the specialty pharmaceutical company’s stock worth $191,848,000 after acquiring an additional 99,656 shares during the period. Systematic Financial Management LP grew its stake in Jazz Pharmaceuticals by 2.6% during the 1st quarter. Systematic Financial Management LP now owns 407,114 shares of the specialty pharmaceutical company’s stock valued at $76,965,000 after acquiring an additional 10,237 shares in the last quarter. Retirement Systems of Alabama grew its stake in Jazz Pharmaceuticals by 7.6% during the 3rd quarter. Retirement Systems of Alabama now owns 171,801 shares of the specialty pharmaceutical company’s stock valued at $39,775,000 after acquiring an additional 12,138 shares in the last quarter. Finally, Quantinno Capital Management LP increased its holdings in shares of Jazz Pharmaceuticals by 9.7% in the 1st quarter. Quantinno Capital Management LP now owns 191,286 shares of the specialty pharmaceutical company’s stock valued at $36,163,000 after purchasing an additional 16,928 shares during the period. Hedge funds and other institutional investors own 89.14% of the company’s stock.
Jazz Pharmaceuticals Company Profile
Jazz Pharmaceuticals plc is a global biopharmaceutical company focused on developing and commercializing medicines for serious diseases, particularly in neuroscience and oncology. Founded in 2003, the company is headquartered in Dublin, Ireland, and serves patients in the United States and international markets.
Its products include treatments for sleep disorders and seizure conditions, such as Xywav, Xyrem, Sunosi and Epidiolex. Jazz also offers medicines used in cancer care, including Zepzelca, Vyxeos and Rylaze, as well as Defitelio for a serious complication following stem cell transplantation.
Jazz expanded its portfolio through acquisitions, including the 2021 acquisition of GW Pharmaceuticals, which added Epidiolex and other cannabinoid-based medicines.
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