Needham & Company LLC Reiterates Buy Rating for Jazz Pharmaceuticals (NASDAQ:JAZZ)

Needham & Company LLC restated their buy rating on shares of Jazz Pharmaceuticals (NASDAQ:JAZZ) in a report released on Thursday,Benzinga reports. They currently have a $210.00 price objective on the specialty pharmaceutical company’s stock.

A number of other analysts have also issued reports on the company. JPMorgan Chase & Co. raised their target price on Jazz Pharmaceuticals from $200.00 to $209.00 and gave the company an “overweight” rating in a report on Wednesday, February 26th. Royal Bank of Canada lowered their price objective on shares of Jazz Pharmaceuticals from $179.00 to $178.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 26th. Piper Sandler reiterated an “overweight” rating and set a $176.00 target price (up from $163.00) on shares of Jazz Pharmaceuticals in a research note on Wednesday, February 26th. Morgan Stanley restated an “overweight” rating and issued a $183.00 price target (up from $175.00) on shares of Jazz Pharmaceuticals in a research report on Friday, March 7th. Finally, Truist Financial upped their price objective on shares of Jazz Pharmaceuticals from $220.00 to $230.00 and gave the company a “buy” rating in a research report on Thursday, March 6th. One research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $187.71.

Jazz Pharmaceuticals Stock Down 1.5 %

Jazz Pharmaceuticals stock opened at $100.50 on Thursday. The firm has a market cap of $6.10 billion, a price-to-earnings ratio of 14.15, a P/E/G ratio of 1.04 and a beta of 0.42. The firm has a fifty day moving average price of $129.67 and a two-hundred day moving average price of $122.68. Jazz Pharmaceuticals has a fifty-two week low of $95.49 and a fifty-two week high of $148.06. The company has a debt-to-equity ratio of 1.46, a current ratio of 4.26 and a quick ratio of 3.74.

Insider Activity

In other Jazz Pharmaceuticals news, CEO Bruce C. Cozadd sold 1,500 shares of the business’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $122.31, for a total value of $183,465.00. Following the transaction, the chief executive officer now directly owns 439,744 shares in the company, valued at $53,785,088.64. The trade was a 0.34 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Patricia Carr sold 4,813 shares of the firm’s stock in a transaction that occurred on Thursday, February 27th. The stock was 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 position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 28,736 shares of company stock worth $4,023,305. Corporate insiders own 4.20% of the company’s stock.

Institutional Trading of Jazz Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Centre Asset Management LLC acquired a new stake in Jazz Pharmaceuticals in the 4th quarter valued at about $9,335,000. Moloney Securities Asset Management LLC acquired a new stake in shares of Jazz Pharmaceuticals in the fourth quarter valued at approximately $464,000. Franklin Resources Inc. raised its position in Jazz Pharmaceuticals by 4.6% in the 3rd quarter. Franklin Resources Inc. now owns 1,118,688 shares of the specialty pharmaceutical company’s stock worth $124,208,000 after purchasing an additional 48,708 shares during the last quarter. Hennion & Walsh Asset Management Inc. lifted its holdings in Jazz Pharmaceuticals by 13.7% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 35,894 shares of the specialty pharmaceutical company’s stock worth $4,420,000 after buying an additional 4,332 shares in the last quarter. Finally, Sanctuary Advisors LLC boosted its position in Jazz Pharmaceuticals by 502.8% in the 3rd quarter. Sanctuary Advisors LLC now owns 11,754 shares of the specialty pharmaceutical company’s stock valued at $1,310,000 after buying an additional 9,804 shares during the last quarter. 89.14% of the stock is currently owned by institutional investors and hedge funds.

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.