Jazz Pharmaceuticals (NASDAQ:JAZZ) Rating Increased to Strong-Buy at Canaccord Genuity Group

Canaccord Genuity Group upgraded shares of Jazz Pharmaceuticals (NASDAQ:JAZZ) to a strong-buy rating in a research report released on Thursday,Zacks.com reports.

A number of other equities analysts have also recently issued reports on JAZZ. Bank of America increased their target price on Jazz Pharmaceuticals from $281.00 to $307.00 and gave the stock a “buy” rating in a report on Wednesday, June 10th. UBS Group raised shares of Jazz Pharmaceuticals from a “neutral” rating to a “buy” rating and lifted their price target for the company from $188.00 to $307.00 in a report on Tuesday, May 19th. Piper Sandler raised their price objective on shares of Jazz Pharmaceuticals from $232.00 to $301.00 and gave the stock an “overweight” rating in a report on Friday, May 22nd. Raymond James Financial restated an “outperform” rating and set a $239.00 price target on shares of Jazz Pharmaceuticals in a research report on Wednesday, May 6th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on Jazz Pharmaceuticals from $250.00 to $270.00 and gave the company a “buy” rating in a report on Thursday, July 9th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $256.44.

Jazz Pharmaceuticals Stock Performance

NASDAQ JAZZ opened at $247.53 on Thursday. The stock has a market cap of $15.55 billion, a P/E ratio of -12,370.31, a PEG ratio of 0.21 and a beta of 0.32. The company’s 50-day simple moving average is $235.11 and its 200 day simple moving average is $200.42. Jazz Pharmaceuticals has a twelve month low of $105.00 and a twelve month high of $250.49. The company has a quick ratio of 1.85, a current ratio of 2.04 and a debt-to-equity ratio of 0.95.

Jazz Pharmaceuticals (NASDAQ:JAZZ) last posted its quarterly earnings results on Tuesday, March 31st. The specialty pharmaceutical company reported $6.34 earnings per share (EPS) for the quarter. The firm had revenue of $1.07 billion during the quarter. Jazz Pharmaceuticals had a net margin of 0.66% and a return on equity of 14.56%. As a group, research analysts forecast that Jazz Pharmaceuticals will post 21.9 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, EVP Neena M. Patil sold 1,200 shares of the firm’s stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $231.83, for a total value of $278,196.00. Following the transaction, the executive vice president owned 51,549 shares of the company’s stock, valued at approximately $11,950,604.67. This trade represents a 2.27% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Rick E. Winningham sold 2,741 shares of the business’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $241.57, for a total transaction of $662,143.37. Following the sale, the director directly owned 9,567 shares of the company’s stock, valued at approximately $2,311,100.19. This trade represents a 22.27% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 13,098 shares of company stock worth $3,131,906. 4.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Jazz Pharmaceuticals

A number of institutional investors and hedge funds have recently added to or reduced their stakes in JAZZ. Hilltop National Bank bought a new position in Jazz Pharmaceuticals during the fourth quarter worth about $36,000. LRI Investments LLC bought a new stake in shares of Jazz Pharmaceuticals in the 4th quarter valued at about $38,000. Danske Bank A S bought a new stake in shares of Jazz Pharmaceuticals in the 3rd quarter valued at about $40,000. Geneos Wealth Management Inc. raised its position in shares of Jazz Pharmaceuticals by 57.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 375 shares of the specialty pharmaceutical company’s stock valued at $47,000 after acquiring an additional 137 shares during the period. Finally, Caitong International Asset Management Co. Ltd raised its position in shares of Jazz Pharmaceuticals by 1,383.3% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 356 shares of the specialty pharmaceutical company’s stock valued at $47,000 after acquiring an additional 332 shares during the period. Institutional investors own 89.14% of the company’s stock.

About Jazz Pharmaceuticals

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.