Jazz Pharmaceuticals (NASDAQ:JAZZ) Reaches New 12-Month High – Here’s What Happened

Jazz Pharmaceuticals PLC (NASDAQ:JAZZ) shares hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $243.81 and last traded at $243.47, with a volume of 751678 shares changing hands. The stock had previously closed at $237.51.

Analyst Ratings Changes

JAZZ has been the topic of a number of analyst reports. Robert W. Baird set a $252.00 target price on shares of Jazz Pharmaceuticals in a research note on Wednesday, May 6th. Morgan Stanley reissued an “overweight” rating and issued a $245.00 price target on shares of Jazz Pharmaceuticals in a research note on Thursday, May 7th. Wells Fargo & Company raised their price target on shares of Jazz Pharmaceuticals from $250.00 to $265.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. Piper Sandler lifted their price target on shares of Jazz Pharmaceuticals from $232.00 to $301.00 and gave the company an “overweight” rating in a research report on Friday, May 22nd. Finally, UBS Group upgraded Jazz Pharmaceuticals from a “neutral” rating to a “buy” rating and upped their price objective for the company from $188.00 to $307.00 in a report on Tuesday, May 19th. Sixteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $246.06.

Jazz Pharmaceuticals Stock Performance

The company has a debt-to-equity ratio of 0.95, a current ratio of 2.04 and a quick ratio of 1.85. The company has a market cap of $15.29 billion, a PE ratio of -12,167.42, a price-to-earnings-growth ratio of 0.21 and a beta of 0.32. The company’s 50 day simple moving average is $228.38 and its two-hundred day simple moving average is $195.25.

Jazz Pharmaceuticals (NASDAQ:JAZZ) last released its quarterly earnings results on Tuesday, March 31st. The specialty pharmaceutical company reported $6.34 earnings per share (EPS) for the quarter. The business had revenue of $1.07 billion for the quarter. Jazz Pharmaceuticals had a net margin of 0.66% and a return on equity of 14.56%. As a group, sell-side analysts anticipate that Jazz Pharmaceuticals PLC will post 22.09 EPS for the current fiscal year.

Insider Transactions at Jazz Pharmaceuticals

In other Jazz Pharmaceuticals news, Director Rick E. Winningham sold 2,741 shares of the company’s stock in a transaction 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 transaction, the director directly owned 9,567 shares in the company, valued at $2,311,100.19. This represents a 22.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Neena M. Patil sold 1,200 shares of the firm’s stock in a transaction on Wednesday, June 10th. The stock was 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 represents a 2.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 7,098 shares of company stock worth $1,689,086 in the last ninety days. 4.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Jazz Pharmaceuticals

Several institutional investors have recently bought and sold shares of JAZZ. Hilltop National Bank purchased a new position in shares of Jazz Pharmaceuticals in the fourth quarter valued at approximately $36,000. LRI Investments LLC acquired a new position in shares of Jazz Pharmaceuticals in the fourth quarter valued at approximately $38,000. Danske Bank A S purchased a new stake in Jazz Pharmaceuticals during the 3rd quarter worth approximately $40,000. Geneos Wealth Management Inc. increased its stake in Jazz Pharmaceuticals by 57.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 375 shares of the specialty pharmaceutical company’s stock worth $47,000 after buying an additional 137 shares during the period. Finally, Caitong International Asset Management Co. Ltd lifted its holdings in Jazz Pharmaceuticals by 1,383.3% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 356 shares of the specialty pharmaceutical company’s stock worth $47,000 after buying an additional 332 shares in the last quarter. 89.14% of the stock is owned by institutional investors and hedge funds.

Jazz Pharmaceuticals Company Profile

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.