Jazz Pharmaceuticals (NASDAQ:JAZZ) Price Target Raised to $258.00

Jazz Pharmaceuticals (NASDAQ:JAZZ) had its target price hoisted by Royal Bank Of Canada from $195.00 to $258.00 in a research note released on Wednesday,Benzinga reports. The brokerage currently has an outperform rating on the specialty pharmaceutical company’s stock.

Other analysts have also recently issued research reports about the stock. Raymond James Financial reiterated an “outperform” rating and issued a $239.00 price objective on shares of Jazz Pharmaceuticals in a research note on Wednesday. Truist Financial upgraded shares of Jazz Pharmaceuticals to a “strong-buy” rating in a research note on Wednesday, March 25th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Jazz Pharmaceuticals in a research note on Friday, March 27th. TD Cowen raised their price objective on shares of Jazz Pharmaceuticals from $220.00 to $275.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Wells Fargo & Company raised their price objective on shares of Jazz Pharmaceuticals from $250.00 to $265.00 and gave the company an “overweight” rating in a research note on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Jazz Pharmaceuticals has a consensus rating of “Moderate Buy” and an average price target of $230.56.

Jazz Pharmaceuticals Trading Down 0.5%

NASDAQ JAZZ opened at $225.79 on Wednesday. The stock has a market capitalization of $14.17 billion, a P/E ratio of -11,283.86, a P/E/G ratio of 0.41 and a beta of 0.27. Jazz Pharmaceuticals has a 52-week low of $97.56 and a 52-week high of $230.40. The firm has a 50-day moving average price of $192.62 and a 200 day moving average price of $172.95. The company has a quick ratio of 1.67, 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. Jazz Pharmaceuticals had a net margin of 0.66% and a return on equity of 14.56%. The firm had revenue of $1.07 billion during the quarter. Equities research analysts expect that Jazz Pharmaceuticals will post 20.51 EPS for the current year.

Insider Activity

In other Jazz Pharmaceuticals news, Director Norbert G. Riedel sold 3,415 shares of the firm’s stock in a transaction dated Friday, February 27th. The shares were sold at an average price of $192.00, for a total transaction of $655,680.00. Following the completion of the transaction, the director directly owned 7,024 shares in the company, valued at approximately $1,348,608. This trade represents a 32.71% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Bruce C. Cozadd sold 6,000 shares of the firm’s stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $190.50, for a total transaction of $1,143,000.00. Following the transaction, the director owned 384,682 shares of the company’s stock, valued at $73,281,921. This trade represents a 1.54% decrease in their ownership of the stock. 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. Insiders sold a total of 74,015 shares of company stock worth $14,180,486 in the last three months. Company insiders own 4.30% of the company’s stock.

Institutional Investors Weigh In On Jazz Pharmaceuticals

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Dimensional Fund Advisors LP grew its holdings in shares of Jazz Pharmaceuticals by 11.8% during the third quarter. Dimensional Fund Advisors LP now owns 2,836,652 shares of the specialty pharmaceutical company’s stock worth $373,855,000 after buying an additional 298,815 shares in the last quarter. Capital World Investors grew its holdings in shares of Jazz Pharmaceuticals by 4.4% during the fourth quarter. Capital World Investors now owns 2,666,602 shares of the specialty pharmaceutical company’s stock worth $453,322,000 after buying an additional 111,735 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in shares of Jazz Pharmaceuticals by 11.4% during the second quarter. Ameriprise Financial Inc. now owns 1,867,399 shares of the specialty pharmaceutical company’s stock worth $198,159,000 after buying an additional 191,637 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Jazz Pharmaceuticals by 8.5% during the third quarter. JPMorgan Chase & Co. now owns 1,867,159 shares of the specialty pharmaceutical company’s stock worth $246,092,000 after buying an additional 145,865 shares in the last quarter. Finally, Franklin Resources Inc. grew its holdings in shares of Jazz Pharmaceuticals by 164.0% during the fourth quarter. Franklin Resources Inc. now owns 1,818,911 shares of the specialty pharmaceutical company’s stock worth $309,215,000 after buying an additional 1,129,995 shares in the last quarter. 89.14% of the stock is currently owned by hedge funds and other 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.