Jazz Pharmaceuticals (NASDAQ:JAZZ) Given New $296.00 Price Target at Royal Bank Of Canada

Jazz Pharmaceuticals (NASDAQ:JAZZ) had its target price lowered by equities researchers at Royal Bank Of Canada from $299.00 to $296.00 in a report issued on Thursday, Benzinga reports. The firm currently has an “outperform” rating on the specialty pharmaceutical company’s stock. Royal Bank Of Canada’s target price would suggest a potential upside of 35.11% from the company’s current price.

A number of other equities analysts also recently weighed in on the stock. Piper Sandler boosted their price target on shares of Jazz Pharmaceuticals from $301.00 to $310.00 and gave the stock an “overweight” rating in a report on Tuesday, August 4th. Bank of America raised their price objective on shares of Jazz Pharmaceuticals from $281.00 to $307.00 and gave the stock a “buy” rating in a report on Wednesday, June 10th. Weiss Ratings raised shares of Jazz Pharmaceuticals from a “hold (c-)” rating to a “buy (b-)” rating in a research report on Tuesday, August 4th. UBS Group boosted their target price on shares of Jazz Pharmaceuticals from $315.00 to $337.00 and gave the company a “buy” rating in a research note on Friday, September 11th. Finally, Citigroup started coverage on shares of Jazz Pharmaceuticals in a research report on Wednesday, September 30th. They set a “buy” rating and a $325.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $291.25.

Jazz Pharmaceuticals Stock Performance

Shares of JAZZ traded down $12.11 on Thursday, reaching $219.08. 248,396 shares of the company’s stock traded hands, compared to its average volume of 934,344. The stock’s 50 day simple moving average is $245.68 and its two-hundred day simple moving average is $230.80. The stock has a market cap of $14.22 billion, a PE ratio of 15.11, a PEG ratio of 0.21 and a beta of 0.37. Jazz Pharmaceuticals has a 52-week low of $128.80 and a 52-week high of $266.38. The company has a current ratio of 1.78, a quick ratio of 1.58 and a debt-to-equity ratio of 0.69.

Jazz Pharmaceuticals (NASDAQ:JAZZ) last posted its quarterly earnings data on Monday, August 3rd. The specialty pharmaceutical company reported $5.71 earnings per share for the quarter, missing the consensus estimate of $6.18 by ($0.47). The business had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.11 billion. Jazz Pharmaceuticals had a return on equity of 33.97% and a net margin of 20.45%.The firm’s revenue for the quarter was up 15.5% on a year-over-year basis. During the same period in the prior year, the firm posted ($8.25) EPS. On average, analysts forecast that Jazz Pharmaceuticals will post 21.61 earnings per share for the current fiscal year.

Insider Buying and Selling at Jazz Pharmaceuticals

In other news, CEO Renee D. Gala sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 6th. The shares were sold at an average price of $236.40, for a total value of $472,800.00. Following the sale, the chief executive officer owned 141,394 shares of the company’s stock, valued at $33,425,541.60. The trade was a 1.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Robert Iannone sold 76,921 shares of the company’s stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $249.70, for a total transaction of $19,207,173.70. Following the sale, the executive vice president owned 65,686 shares in the company, valued at $16,401,794.20. The trade was a 53.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 100,121 shares of company stock valued at $24,855,802 in the last three months. 4.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Bank of New York Mellon Corp grew its holdings in Jazz Pharmaceuticals by 44.5% during the 1st quarter. Bank of New York Mellon Corp now owns 1,679,371 shares of the specialty pharmaceutical company’s stock valued at $317,485,000 after buying an additional 517,514 shares in the last quarter. Bank of America Corp DE lifted its holdings in shares of Jazz Pharmaceuticals by 10.9% in the first quarter. Bank of America Corp DE now owns 1,014,800 shares of the specialty pharmaceutical company’s stock worth $191,848,000 after buying an additional 99,656 shares in the last quarter. Sofinnova Investments Inc. lifted its holdings in shares of Jazz Pharmaceuticals by 63.0% in the fourth quarter. Sofinnova Investments Inc. now owns 959,860 shares of the specialty pharmaceutical company’s stock worth $163,176,000 after buying an additional 371,032 shares in the last quarter. Pacer Advisors Inc. boosted its position in shares of Jazz Pharmaceuticals by 19.8% in the fourth quarter. Pacer Advisors Inc. now owns 647,084 shares of the specialty pharmaceutical company’s stock valued at $110,004,000 after acquiring an additional 107,144 shares during the period. Finally, Allianz Asset Management GmbH grew its stake in Jazz Pharmaceuticals by 68.2% during the fourth quarter. Allianz Asset Management GmbH now owns 598,832 shares of the specialty pharmaceutical company’s stock valued at $101,801,000 after acquiring an additional 242,892 shares in the last quarter. 89.14% of the stock is currently owned by hedge funds and other institutional investors.

Jazz Pharmaceuticals Company Profile

Jazz Pharmaceuticals plc is a biopharmaceutical company focused on developing and commercializing medicines for patients with serious neurological and oncology-related conditions. Founded in 2003 and headquartered in Dublin, Ireland, the company operates internationally, with a significant commercial presence in the United States and other markets.

Jazz’s neuroscience portfolio includes Xywav and Xyrem, which contain oxybate and are used to treat narcolepsy-related symptoms; Xywav is also approved for idiopathic hypersomnia in adults.