Morgan Stanley Forecasts Strong Price Appreciation for Jazz Pharmaceuticals (NASDAQ:JAZZ) Stock

Jazz Pharmaceuticals (NASDAQ:JAZZ) had its target price raised by research analysts at Morgan Stanley from $319.00 to $324.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm presently has an “overweight” rating on the specialty pharmaceutical company’s stock. Morgan Stanley‘s target price indicates a potential upside of 34.13% from the stock’s current price.

Several other analysts have also weighed in on the stock. TD Cowen raised their price objective on shares of Jazz Pharmaceuticals from $275.00 to $300.00 and gave the stock a “buy” rating in a report on Tuesday, August 4th. JPMorgan Chase & Co. raised their price target on Jazz Pharmaceuticals from $300.00 to $310.00 and gave the company an “overweight” rating in a report on Tuesday, November 3rd. Sanford C. Bernstein reiterated a “market perform” rating and issued a $220.00 price objective on shares of Jazz Pharmaceuticals in a research report on Monday, November 9th. Barclays boosted their price objective on Jazz Pharmaceuticals from $271.00 to $275.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 3rd. Finally, Needham & Company LLC increased their target price on Jazz Pharmaceuticals from $292.00 to $310.00 and gave the stock a “buy” rating in a report on Wednesday, August 26th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $294.25.

Jazz Pharmaceuticals Price Performance

Shares of Jazz Pharmaceuticals stock traded up $1.18 during mid-day trading on Friday, reaching $241.55. 496,700 shares of the stock were exchanged, compared to its average volume of 813,001. The company has a market cap of $15.51 billion, a price-to-earnings ratio of 82.16, a price-to-earnings-growth ratio of 0.44 and a beta of 0.38. The company has a current ratio of 1.82, a quick ratio of 1.64 and a debt-to-equity ratio of 1.09. The firm has a 50-day simple moving average of $229.13 and a 200 day simple moving average of $219.62. Jazz Pharmaceuticals has a fifty-two week low of $139.26 and a fifty-two week high of $266.38.

Jazz Pharmaceuticals (NASDAQ:JAZZ) last announced its quarterly earnings results on Monday, November 2nd. The specialty pharmaceutical company reported ($3.88) earnings per share (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 the consensus estimate of $1.21 billion. Jazz Pharmaceuticals had a net margin of 4.37% and a return on equity of 16.88%. The firm’s quarterly revenue was up 10.4% on a year-over-year basis. During the same period last year, the firm posted $8.13 EPS. On average, sell-side analysts predict that Jazz Pharmaceuticals will post 11.08 EPS for the current fiscal year.

Insiders Place Their Bets

In other Jazz Pharmaceuticals news, CEO Renee D. Gala sold 2,000 shares of the company’s stock in a transaction on 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. The trade was a 1.38% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Neena M. Patil sold 1,200 shares of the stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $240.94, for a total value of $289,128.00. Following the completion of the transaction, the executive vice president directly owned 47,671 shares in the company, valued at approximately $11,485,850.74. This trade represents a 2.46% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 171,342 shares of company stock valued at $41,420,491 over the last three months. 4.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Jazz Pharmaceuticals

A number of institutional investors have recently made changes to their positions in the stock. USA Financial Formulas acquired a new position in Jazz Pharmaceuticals in the first quarter valued at about $25,000. Pension & Wealth Management Advisors Inc. bought a new position in Jazz Pharmaceuticals during the third quarter worth about $32,000. Ameritas Advisory Services LLC bought a new position in Jazz Pharmaceuticals during the second quarter worth about $47,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Jazz Pharmaceuticals during the 2nd quarter worth about $61,000. Finally, Elevation Wealth Partners LLC grew its position in shares of Jazz Pharmaceuticals by 156.4% during the 3rd quarter. Elevation Wealth Partners LLC now owns 259 shares of the specialty pharmaceutical company’s stock worth $60,000 after buying an additional 158 shares during the period. 89.14% of the stock is owned by institutional investors and hedge funds.

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.