Jazz Pharmaceuticals (NASDAQ:JAZZ) Given New $232.00 Price Target at Piper Sandler
by Sarita Garza · The Markets DailyJazz Pharmaceuticals (NASDAQ:JAZZ – Get Free Report) had its price objective increased by equities researchers at Piper Sandler from $219.00 to $232.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the specialty pharmaceutical company’s stock. Piper Sandler’s price target indicates a potential upside of 28.42% from the stock’s current price.
JAZZ has been the subject of a number of other reports. Truist Financial upped their target price on Jazz Pharmaceuticals from $220.00 to $230.00 and gave the company a “buy” rating in a research note on Monday, January 12th. Needham & Company LLC raised their price objective on shares of Jazz Pharmaceuticals from $210.00 to $235.00 and gave the stock a “buy” rating in a report on Monday, January 12th. Wells Fargo & Company lifted their target price on shares of Jazz Pharmaceuticals from $235.00 to $250.00 and gave the company an “overweight” rating in a research report on Wednesday, February 25th. UBS Group reissued a “neutral” rating and issued a $188.00 target price (up from $163.00) on shares of Jazz Pharmaceuticals in a research note on Monday, November 24th. Finally, Bank of America lifted their price objective on Jazz Pharmaceuticals from $263.00 to $275.00 and gave the company a “buy” rating in a report on Wednesday, February 25th. Thirteen equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $215.38.
Check Out Our Latest Stock Report on JAZZ
Jazz Pharmaceuticals Stock Up 0.1%
JAZZ traded up $0.21 during midday trading on Thursday, hitting $180.66. 216,618 shares of the company’s stock traded hands, compared to its average volume of 1,043,355. The company has a market cap of $11.12 billion, a PE ratio of -30.30, a price-to-earnings-growth ratio of 0.33 and a beta of 0.22. The stock’s fifty day simple moving average is $172.99 and its 200-day simple moving average is $157.36. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.86 and a quick ratio of 1.67. Jazz Pharmaceuticals has a one year low of $95.49 and a one year high of $198.00.
Jazz Pharmaceuticals (NASDAQ:JAZZ – Get Free Report) last announced its quarterly earnings results on Tuesday, February 24th. The specialty pharmaceutical company reported $6.64 EPS for the quarter, beating the consensus estimate of $6.49 by $0.15. The company had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.17 billion. Jazz Pharmaceuticals had a positive return on equity of 6.87% and a negative net margin of 8.35%.The company’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same quarter last year, the company posted $6.51 earnings per share. As a group, equities analysts anticipate that Jazz Pharmaceuticals will post 16.96 earnings per share for the current fiscal year.
Insider Transactions at Jazz Pharmaceuticals
In other news, SVP Mary Elizabeth Henderson sold 5,343 shares of the firm’s stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $194.49, for a total value of $1,039,160.07. Following the completion of the sale, the senior vice president directly owned 28,728 shares of the company’s stock, valued at $5,587,308.72. This trade represents a 15.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Neena M. Patil sold 55,600 shares of Jazz Pharmaceuticals stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $191.56, for a total value of $10,650,736.00. Following the transaction, the executive vice president owned 56,862 shares of the company’s stock, valued at $10,892,484.72. This represents a 49.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 68,015 shares of company stock worth $13,037,486. 4.30% of the stock is currently owned by insiders.
Hedge Funds Weigh In On Jazz Pharmaceuticals
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC lifted its stake in shares of Jazz Pharmaceuticals by 754.8% during the 3rd quarter. Farther Finance Advisors LLC now owns 265 shares of the specialty pharmaceutical company’s stock worth $35,000 after buying an additional 234 shares during the last quarter. Hilltop National Bank bought a new position in Jazz Pharmaceuticals in the fourth quarter valued at approximately $36,000. LRI Investments LLC bought a new stake in Jazz Pharmaceuticals during the fourth quarter worth $38,000. Danske Bank A S bought a new position in shares of Jazz Pharmaceuticals in the 3rd quarter valued at $40,000. Finally, Quent Capital LLC acquired a new position in shares of Jazz Pharmaceuticals during the 3rd quarter worth $44,000. 89.14% of the stock is owned by institutional investors.
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.