Jazz Pharmaceuticals (NASDAQ:JAZZ) Hits New 1-Year High – Still a Buy?

Jazz Pharmaceuticals plc (NASDAQ:JAZZ)’s stock price reached a new 52-week high on Wednesday . The company traded as high as $135.16 and last traded at $133.98, with a volume of 309350 shares. The stock had previously closed at $129.98.

Analysts Set New Price Targets

Several research analysts recently commented on JAZZ shares. Royal Bank of Canada restated an “outperform” rating and set a $179.00 target price on shares of Jazz Pharmaceuticals in a report on Tuesday, December 10th. Piper Sandler reiterated an “overweight” rating and issued a $163.00 price target on shares of Jazz Pharmaceuticals in a research note on Thursday, December 12th. Robert W. Baird raised their target price on shares of Jazz Pharmaceuticals from $154.00 to $162.00 and gave the company an “outperform” rating in a research note on Monday, November 18th. HC Wainwright restated a “buy” rating and issued a $200.00 price target on shares of Jazz Pharmaceuticals in a research note on Friday, November 22nd. Finally, Morgan Stanley raised Jazz Pharmaceuticals from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $140.00 to $175.00 in a report on Thursday, December 12th. Two investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $177.00.

Jazz Pharmaceuticals Stock Up 3.2 %

The stock’s 50-day moving average price is $122.56 and its 200-day moving average price is $116.63. The company has a current ratio of 4.26, a quick ratio of 3.74 and a debt-to-equity ratio of 1.46. The company has a market cap of $8.11 billion, a P/E ratio of 18.92, a PEG ratio of 0.92 and a beta of 0.56.

Insider Activity

In other Jazz Pharmaceuticals news, CEO Bruce C. Cozadd sold 2,000 shares of the business’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $121.17, for a total value of $242,340.00. Following the sale, the chief executive officer now directly owns 427,025 shares in the company, valued at $51,742,619.25. The trade was a 0.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders sold a total of 5,053 shares of company stock worth $617,442 over the last quarter. Insiders own 4.20% of the company’s stock.

Hedge Funds Weigh In On Jazz Pharmaceuticals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in JAZZ. IFP Advisors Inc bought a new stake in Jazz Pharmaceuticals during the fourth quarter valued at approximately $25,000. CoreFirst Bank & Trust purchased a new position in shares of Jazz Pharmaceuticals in the fourth quarter worth $28,000. Allianz SE bought a new stake in Jazz Pharmaceuticals in the 4th quarter worth $29,000. Jones Financial Companies Lllp increased its holdings in Jazz Pharmaceuticals by 75.1% during the 4th quarter. Jones Financial Companies Lllp now owns 303 shares of the specialty pharmaceutical company’s stock valued at $37,000 after purchasing an additional 130 shares during the period. Finally, UMB Bank n.a. lifted its holdings in Jazz Pharmaceuticals by 70.9% in the 4th quarter. UMB Bank n.a. now owns 311 shares of the specialty pharmaceutical company’s stock worth $38,000 after buying an additional 129 shares during the period. 89.14% of the stock is currently owned by hedge funds and other institutional investors.

About Jazz Pharmaceuticals

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.