Jazz Pharmaceuticals (NASDAQ:JAZZ) Earns “Buy” Rating from Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Jazz Pharmaceuticals (NASDAQ:JAZZ) in a research note released on Wednesday,Benzinga reports. Needham & Company LLC currently has a $210.00 price target on the specialty pharmaceutical company’s stock.

Several other research firms also recently weighed in on JAZZ. Royal Bank of Canada reduced their target price on shares of Jazz Pharmaceuticals from $179.00 to $178.00 and set an “outperform” rating for the company in a research note on Wednesday, February 26th. Robert W. Baird boosted their price target on shares of Jazz Pharmaceuticals from $154.00 to $162.00 and gave the stock an “outperform” rating in a research note on Monday, November 18th. Barclays restated an “overweight” rating and issued a $200.00 price objective (up from $190.00) on shares of Jazz Pharmaceuticals in a report on Thursday, February 27th. HC Wainwright restated a “buy” rating and issued a $200.00 price objective on shares of Jazz Pharmaceuticals in a report on Friday, November 22nd. Finally, JPMorgan Chase & Co. upped their price target on shares of Jazz Pharmaceuticals from $200.00 to $209.00 and gave the company an “overweight” rating in a report on Wednesday, February 26th. Two analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Jazz Pharmaceuticals has an average rating of “Moderate Buy” and an average price target of $182.47.

Jazz Pharmaceuticals Stock Performance

Shares of JAZZ stock opened at $140.23 on Wednesday. The firm has a market cap of $8.52 billion, a price-to-earnings ratio of 19.75, a P/E/G ratio of 1.04 and a beta of 0.56. The company has a debt-to-equity ratio of 1.46, a quick ratio of 3.74 and a current ratio of 4.26. Jazz Pharmaceuticals has a 52 week low of $99.06 and a 52 week high of $148.06. The firm’s 50-day simple moving average is $127.64 and its two-hundred day simple moving average is $119.71.

Insider Activity

In other Jazz Pharmaceuticals news, CEO Bruce C. Cozadd sold 1,500 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $123.43, for a total transaction of $185,145.00. Following the completion of the sale, the chief executive officer now directly owns 425,525 shares of the company’s stock, valued at approximately $52,522,550.75. This represents a 0.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Patricia Carr sold 4,813 shares of the stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $144.42, for a total transaction of $695,093.46. Following the sale, the chief accounting officer now directly owns 8,237 shares of the company’s stock, valued at approximately $1,189,587.54. The trade was a 36.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 18,113 shares of company stock valued at $2,551,834. 4.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Jazz Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Mackenzie Financial Corp grew its stake in shares of Jazz Pharmaceuticals by 493.3% during the 4th quarter. Mackenzie Financial Corp now owns 20,286 shares of the specialty pharmaceutical company’s stock worth $2,498,000 after purchasing an additional 16,867 shares during the period. Forum Financial Management LP purchased a new position in Jazz Pharmaceuticals in the 4th quarter valued at $245,000. GF Fund Management CO. LTD. purchased a new position in Jazz Pharmaceuticals in the 4th quarter valued at $156,000. MidWestOne Financial Group Inc. lifted its holdings in Jazz Pharmaceuticals by 10.4% in the 4th quarter. MidWestOne Financial Group Inc. now owns 24,347 shares of the specialty pharmaceutical company’s stock valued at $2,998,000 after purchasing an additional 2,284 shares in the last quarter. Finally, Elequin Capital LP lifted its holdings in Jazz Pharmaceuticals by 677.8% in the 4th quarter. Elequin Capital LP now owns 210 shares of the specialty pharmaceutical company’s stock valued at $26,000 after purchasing an additional 183 shares in the last quarter. Institutional investors and hedge funds own 89.14% of the company’s stock.

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.