Jazz Pharmaceuticals (NASDAQ:JAZZ) Downgraded by StockNews.com to Hold

StockNews.com lowered shares of Jazz Pharmaceuticals (NASDAQ:JAZZ) from a buy rating to a hold rating in a research report report published on Thursday morning.

A number of other brokerages have also commented on JAZZ. Needham & Company LLC reiterated a “buy” rating and set a $200.00 price target on shares of Jazz Pharmaceuticals in a report on Wednesday, May 7th. Cantor Fitzgerald lowered Jazz Pharmaceuticals from an “overweight” rating to a “neutral” rating and raised their target price for the stock from $140.00 to $150.00 in a research report on Wednesday, February 26th. UBS Group raised Jazz Pharmaceuticals from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $145.00 to $179.00 in a report on Friday, March 7th. JPMorgan Chase & Co. increased their price target on Jazz Pharmaceuticals from $200.00 to $209.00 and gave the company an “overweight” rating in a research note on Wednesday, February 26th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $147.00 price objective (down from $176.00) on shares of Jazz Pharmaceuticals in a research note on Wednesday, May 7th. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $182.79.

Jazz Pharmaceuticals Trading Down 0.5%

JAZZ opened at $106.07 on Thursday. The company’s 50 day moving average is $116.29 and its 200-day moving average is $121.97. Jazz Pharmaceuticals has a 1-year low of $95.49 and a 1-year high of $148.06. 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 $6.54 billion, a P/E ratio of 14.94, a PEG ratio of 1.04 and a beta of 0.38.

Jazz Pharmaceuticals (NASDAQ:JAZZ) last issued its earnings results on Tuesday, May 6th. The specialty pharmaceutical company reported $1.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.65 by ($2.97). The firm had revenue of $897.84 million during the quarter, compared to analyst estimates of $984.16 million. Jazz Pharmaceuticals had a return on equity of 29.30% and a net margin of 11.60%. Jazz Pharmaceuticals’s revenue for the quarter was down .5% on a year-over-year basis. During the same period in the previous year, the company earned $2.68 EPS. Equities research analysts predict that Jazz Pharmaceuticals will post 16.96 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CMO Robert Iannone sold 7,080 shares of Jazz Pharmaceuticals stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $138.60, for a total transaction of $981,288.00. Following the completion of the transaction, the chief marketing officer now directly owns 82,024 shares in the company, valued at $11,368,526.40. This trade represents a 7.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Seamus Mulligan bought 100,000 shares of the stock in a transaction that occurred on Friday, May 9th. The stock was acquired at an average price of $98.26 per share, for a total transaction of $9,826,000.00. Following the acquisition, the director now directly owns 100,000 shares in the company, valued at $9,826,000. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold a total of 28,236 shares of company stock worth $3,956,190 in the last ninety days. Corporate insiders own 4.20% of the company’s stock.

Hedge Funds Weigh In On Jazz Pharmaceuticals

Hedge funds have recently added to or reduced their stakes in the stock. Barclays PLC increased its stake in Jazz Pharmaceuticals by 19.1% in the 3rd quarter. Barclays PLC now owns 39,210 shares of the specialty pharmaceutical company’s stock valued at $4,369,000 after buying an additional 6,289 shares during the last quarter. Park Avenue Securities LLC increased its position in shares of Jazz Pharmaceuticals by 19.5% during the fourth quarter. Park Avenue Securities LLC now owns 2,521 shares of the specialty pharmaceutical company’s stock valued at $310,000 after acquiring an additional 412 shares during the last quarter. Burney Co. increased its position in shares of Jazz Pharmaceuticals by 20.6% during the fourth quarter. Burney Co. now owns 23,840 shares of the specialty pharmaceutical company’s stock valued at $2,936,000 after acquiring an additional 4,079 shares during the last quarter. Hennion & Walsh Asset Management Inc. lifted its holdings in Jazz Pharmaceuticals by 13.7% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 35,894 shares of the specialty pharmaceutical company’s stock worth $4,420,000 after acquiring an additional 4,332 shares during the period. Finally, Empirical Asset Management LLC purchased a new position in Jazz Pharmaceuticals in the fourth quarter worth $5,359,000. Institutional investors and hedge funds own 89.14% of the company’s stock.

Jazz Pharmaceuticals Company Profile

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.