Jazz Pharmaceuticals (NASDAQ:JAZZ) Price Target Raised to $330.00

Jazz Pharmaceuticals (NASDAQ:JAZZ) had its price target upped by Piper Sandler from $310.00 to $330.00 in a report released on Thursday morning,Benzinga reports. The firm currently has an overweight rating on the specialty pharmaceutical company’s stock.

Several other research firms also recently commented on JAZZ. UBS Group increased their price objective on Jazz Pharmaceuticals from $315.00 to $337.00 and gave the company a “buy” rating in a report on Friday, September 11th. Wells Fargo & Company upped their price target on shares of Jazz Pharmaceuticals from $285.00 to $300.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 4th. JPMorgan Chase & Co. upped their target price on shares of Jazz Pharmaceuticals from $300.00 to $310.00 and gave the company an “overweight” rating in a report on Tuesday, November 3rd. Needham & Company LLC raised their target price on shares of Jazz Pharmaceuticals from $292.00 to $310.00 and gave the company a “buy” rating in a research note on Wednesday, August 26th. Finally, Canaccord Genuity Group set a $300.00 price target on Jazz Pharmaceuticals in a report on Wednesday, August 26th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, Jazz Pharmaceuticals presently has an average rating of “Moderate Buy” and an average price target of $294.25.

Jazz Pharmaceuticals Stock Up 0.5%

Shares of NASDAQ:JAZZ traded up $1.18 during midday trading on Thursday, reaching $241.55. The company had a trading volume of 496,700 shares, compared to its average volume of 813,001. The company has a quick ratio of 1.64, a current ratio of 1.82 and a debt-to-equity ratio of 1.09. The business’s 50 day moving average price is $229.13 and its 200 day moving average price is $219.62. The stock has a market cap of $15.51 billion, a PE ratio of 82.16, a P/E/G ratio of 0.44 and a beta of 0.38. Jazz Pharmaceuticals has a 1-year low of $139.26 and a 1-year high of $266.38.

Jazz Pharmaceuticals (NASDAQ:JAZZ) last issued its quarterly earnings results on Monday, November 2nd. The specialty pharmaceutical company reported ($3.88) EPS for the quarter, beating the consensus estimate of ($4.03) by $0.15. The firm had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.21 billion. Jazz Pharmaceuticals had a return on equity of 16.88% and a net margin of 4.37%. The business’s quarterly revenue was up 10.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $8.13 earnings per share. Research analysts forecast that Jazz Pharmaceuticals will post 11.08 EPS for the current fiscal year.

Insider Transactions at Jazz Pharmaceuticals

In other news, CEO Renee D. Gala sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $243.03, for a total transaction of $486,060.00. Following the completion of the sale, the chief executive officer owned 143,394 shares in the company, valued at approximately $34,849,043.82. This trade represents a 1.38% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Robert Iannone sold 76,921 shares of Jazz Pharmaceuticals stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $249.70, for a total transaction of $19,207,173.70. Following the sale, the executive vice president directly owned 65,686 shares of the company’s stock, valued at $16,401,794.20. The trade was a 53.94% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 171,342 shares of company stock valued at $41,420,491. Corporate insiders own 4.10% of the company’s stock.

Hedge Funds Weigh In On Jazz Pharmaceuticals

A number of large investors have recently made changes to their positions in the company. Triumph Capital Management boosted its stake in shares of Jazz Pharmaceuticals by 2.0% during the second quarter. Triumph Capital Management now owns 2,597 shares of the specialty pharmaceutical company’s stock valued at $626,000 after purchasing an additional 52 shares during the period. Keybank National Association OH boosted its position in Jazz Pharmaceuticals by 0.6% during the 3rd quarter. Keybank National Association OH now owns 10,141 shares of the specialty pharmaceutical company’s stock valued at $2,348,000 after buying an additional 57 shares during the period. XML Financial LLC boosted its position in Jazz Pharmaceuticals by 1.1% during the 3rd quarter. XML Financial LLC now owns 6,559 shares of the specialty pharmaceutical company’s stock valued at $1,519,000 after buying an additional 71 shares during the period. Bessemer Group Inc. boosted its position in Jazz Pharmaceuticals by 0.3% during the 1st quarter. Bessemer Group Inc. now owns 22,362 shares of the specialty pharmaceutical company’s stock valued at $4,228,000 after buying an additional 73 shares during the period. Finally, Evergreen Capital Management LLC grew its holdings in Jazz Pharmaceuticals by 4.2% in the 3rd quarter. Evergreen Capital Management LLC now owns 2,250 shares of the specialty pharmaceutical company’s stock worth $521,000 after acquiring an additional 90 shares during the last quarter. 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 medicines for serious diseases, particularly in neuroscience and oncology. Founded in 2003, the company is headquartered in Dublin, Ireland, and serves patients in the United States and international markets. Its products include treatments for sleep disorders and seizure conditions, such as Xywav, Xyrem, Sunosi and Epidiolex. Jazz also offers medicines used in cancer care, including Zepzelca, Vyxeos and Rylaze, as well as Defitelio for a serious complication following stem cell transplantation.