Jazz Pharmaceuticals (NASDAQ:JAZZ – Get Free Report) had its price objective hoisted by stock analysts at Needham & Company LLC from $292.00 to $310.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the specialty pharmaceutical company’s stock. Needham & Company LLC’s price objective would suggest a potential upside of 19.13% from the stock’s current price.
A number of other equities research analysts have also recently commented on JAZZ. Stifel Nicolaus set a $275.00 price objective on shares of Jazz Pharmaceuticals in a research note on Tuesday, August 4th. Morgan Stanley lifted their target price on shares of Jazz Pharmaceuticals from $280.00 to $283.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 11th. Royal Bank Of Canada upped their price target on shares of Jazz Pharmaceuticals from $195.00 to $258.00 and gave the company an “outperform” rating in a report on Wednesday, May 6th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $300.00 price target on shares of Jazz Pharmaceuticals in a research report on Wednesday. Finally, Piper Sandler raised their price objective on shares of Jazz Pharmaceuticals from $301.00 to $310.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, Jazz Pharmaceuticals has a consensus rating of “Buy” and a consensus target price of $274.53.
Read Our Latest Analysis on JAZZ
Jazz Pharmaceuticals Stock Performance
Jazz Pharmaceuticals (NASDAQ:JAZZ – Get Free Report) last posted its earnings results on Monday, August 3rd. The specialty pharmaceutical company reported $5.71 earnings per share for the quarter, missing the consensus estimate of $6.18 by ($0.47). Jazz Pharmaceuticals had a net margin of 20.45% and a return on equity of 33.97%. The firm had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.11 billion. During the same period last year, the company posted ($8.25) EPS. The firm’s revenue for the quarter was up 15.5% on a year-over-year basis. Sell-side analysts forecast that Jazz Pharmaceuticals will post 21.66 earnings per share for the current fiscal year.
Insider Buying and Selling
In other Jazz Pharmaceuticals news, Director Bruce C. Cozadd sold 6,000 shares of the firm’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $252.98, for a total transaction of $1,517,880.00. Following the sale, the director directly owned 360,682 shares of the company’s stock, valued at $91,245,332.36. This trade represents a 1.64% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Neena M. Patil sold 1,200 shares of the stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $231.83, for a total value of $278,196.00. Following the transaction, the executive vice president directly owned 51,549 shares in the company, valued at approximately $11,950,604.67. This represents a 2.27% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 14,357 shares of company stock worth $3,505,642. 4.10% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On Jazz Pharmaceuticals
A number of institutional investors have recently bought and sold shares of the stock. USA Financial Formulas acquired a new position in Jazz Pharmaceuticals during the first quarter worth approximately $25,000. LRI Investments LLC acquired a new position in shares of Jazz Pharmaceuticals in the 4th quarter valued at $38,000. Danske Bank A S purchased a new stake in shares of Jazz Pharmaceuticals during the 3rd quarter valued at $40,000. Ameritas Advisory Services LLC acquired a new stake in shares of Jazz Pharmaceuticals during the 2nd quarter worth $47,000. Finally, Geneos Wealth Management Inc. increased its holdings in shares of Jazz Pharmaceuticals by 57.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 375 shares of the specialty pharmaceutical company’s stock worth $47,000 after buying an additional 137 shares during the last quarter. 89.14% of the stock is currently owned by hedge funds and other institutional investors.
Jazz Pharmaceuticals News Roundup
Here are the key news stories impacting Jazz Pharmaceuticals this week:
- Positive Sentiment: Ziihera received expanded FDA approval for two first-line treatment regimens in unresectable or metastatic HER2-positive gastroesophageal adenocarcinoma. The approval covers Ziihera with tislelizumab and chemotherapy for both IHC 3+ and IHC 2+/ISH+ patients, regardless of PD-L1 status, as well as Ziihera with chemotherapy for IHC 3+ patients. The broader label increases the drug’s addressable market and supports Jazz’s growth strategy. FDA approval announcement
- Positive Sentiment: Analyst and industry coverage characterized Ziihera’s approval as potentially practice-changing and capable of supporting blockbuster sales, making the oncology drug an increasingly important contributor to Jazz’s future revenue growth. Ziihera sales outlook Ziihera industry coverage
- Positive Sentiment: Brokerages collectively maintain an average “Buy” recommendation, indicating that analyst sentiment remains supportive following the regulatory approval. Brokerage recommendation
- Neutral Sentiment: Jazz plans to issue $1.0 billion of exchangeable senior notes due 2032, with an option for purchasers to buy up to an additional $150 million. Concurrent ordinary-share repurchases may help offset potential exchange-related dilution, but the transaction also increases financing complexity and leverage. Exchangeable notes and share repurchases
- Neutral Sentiment: Reported short-interest data showed zero shares and a zero-day short ratio, which provides no meaningful evidence of short-selling pressure.
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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