Jazz Pharmaceuticals (NASDAQ:JAZZ) Price Target Raised to $280.00 at Robert W. Baird

Jazz Pharmaceuticals (NASDAQ:JAZZ) had its price objective upped by analysts at Robert W. Baird from $252.00 to $280.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has an “outperform” rating on the specialty pharmaceutical company’s stock. Robert W. Baird’s target price suggests a potential upside of 11.30% from the company’s current price.

A number of other brokerages have also recently issued reports on JAZZ. Royal Bank Of Canada increased their target price on Jazz Pharmaceuticals from $195.00 to $258.00 and gave the stock an “outperform” rating in a report on Wednesday, May 6th. Morgan Stanley reaffirmed an “overweight” rating and issued a $245.00 price target on shares of Jazz Pharmaceuticals in a research note on Thursday, May 7th. Needham & Company LLC upped their price target on Jazz Pharmaceuticals from $282.00 to $292.00 and gave the company a “buy” rating in a research report on Tuesday. Sanford C. Bernstein reiterated a “market perform” rating on shares of Jazz Pharmaceuticals in a research note on Tuesday, June 9th. Finally, Raymond James Financial restated an “outperform” rating and issued a $239.00 target price on shares of Jazz Pharmaceuticals in a research note on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $262.22.

Jazz Pharmaceuticals Stock Performance

NASDAQ JAZZ opened at $251.58 on Tuesday. Jazz Pharmaceuticals has a twelve month low of $105.00 and a twelve month high of $261.30. The company has a quick ratio of 1.85, a current ratio of 2.04 and a debt-to-equity ratio of 0.95. The stock has a market cap of $15.80 billion, a P/E ratio of -12,572.71, a PEG ratio of 0.22 and a beta of 0.32. The company’s 50-day simple moving average is $239.50 and its 200 day simple moving average is $207.30.

Jazz Pharmaceuticals (NASDAQ:JAZZ) last announced its quarterly earnings results on Monday, August 3rd. The specialty pharmaceutical company reported $5.71 EPS for the quarter, missing analysts’ consensus estimates of $6.18 by ($0.47). The business had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.11 billion. Jazz Pharmaceuticals had a return on equity of 14.56% and a net margin of 0.66%.The firm’s revenue for the quarter was up 15.5% on a year-over-year basis. During the same quarter in the prior year, the business earned ($8.25) EPS. As a group, research analysts forecast that Jazz Pharmaceuticals will post 21.9 earnings per share for the current fiscal year.

Insider Activity

In related news, 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 transaction of $278,196.00. Following the completion of the sale, the executive vice president directly owned 51,549 shares of the company’s stock, valued at $11,950,604.67. This trade represents a 2.27% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Bruce C. Cozadd sold 6,000 shares of the business’s stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $240.47, for a total value of $1,442,820.00. Following the completion of the transaction, the director directly owned 366,682 shares in the company, valued at approximately $88,176,020.54. This represents a 1.61% 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 three months, insiders sold 13,098 shares of company stock worth $3,131,906. 4.10% of the stock is currently owned by insiders.

Institutional Trading of Jazz Pharmaceuticals

Hedge funds have recently modified their holdings of the stock. Ruffer LLP acquired a new position in Jazz Pharmaceuticals during the fourth quarter valued at approximately $2,425,000. Allianz Asset Management GmbH raised its holdings in Jazz Pharmaceuticals by 68.2% in the fourth quarter. Allianz Asset Management GmbH now owns 598,832 shares of the specialty pharmaceutical company’s stock worth $101,801,000 after purchasing an additional 242,892 shares during the period. Swedbank AB raised its holdings in Jazz Pharmaceuticals by 2.7% in the fourth quarter. Swedbank AB now owns 1,102,974 shares of the specialty pharmaceutical company’s stock worth $187,506,000 after purchasing an additional 28,882 shares during the period. SEB Asset Management AB bought a new position in shares of Jazz Pharmaceuticals during the first quarter worth $8,765,000. Finally, Fieldview Capital Management LLC acquired a new position in shares of Jazz Pharmaceuticals in the 4th quarter valued at $1,864,000. 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.