Jazz Pharmaceuticals (NASDAQ:JAZZ) Downgraded by StockNews.com to Buy

StockNews.com lowered shares of Jazz Pharmaceuticals (NASDAQ:JAZZ) from a strong-buy rating to a buy rating in a research report released on Wednesday.

A number of other analysts have also recently weighed in on JAZZ. Royal Bank of Canada reissued an outperform rating and set a $195.00 price objective on shares of Jazz Pharmaceuticals in a report on Thursday, February 29th. Needham & Company LLC reaffirmed a buy rating and issued a $222.00 target price on shares of Jazz Pharmaceuticals in a report on Thursday, May 2nd. The Goldman Sachs Group began coverage on shares of Jazz Pharmaceuticals in a report on Wednesday, June 5th. They issued a buy rating and a $169.00 target price on the stock. Truist Financial reaffirmed a buy rating and issued a $200.00 target price on shares of Jazz Pharmaceuticals in a report on Wednesday, March 20th. Finally, HC Wainwright reaffirmed a buy rating and issued a $200.00 target price on shares of Jazz Pharmaceuticals in a report on Friday, May 3rd. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, Jazz Pharmaceuticals has a consensus rating of Moderate Buy and an average price target of $190.92.

Jazz Pharmaceuticals Stock Down 1.6 %

JAZZ stock opened at $112.68 on Wednesday. The company has a current ratio of 2.27, a quick ratio of 1.90 and a debt-to-equity ratio of 1.38. Jazz Pharmaceuticals has a twelve month low of $103.01 and a twelve month high of $146.70. The company’s 50 day moving average is $109.25 and its two-hundred day moving average is $117.39. The stock has a market cap of $7.11 billion, a P/E ratio of 23.23, a PEG ratio of 1.76 and a beta of 0.62.

Jazz Pharmaceuticals (NASDAQ:JAZZ) last released its quarterly earnings data on Wednesday, May 1st. The specialty pharmaceutical company reported $1.98 earnings per share for the quarter, missing analysts’ consensus estimates of $3.53 by ($1.55). Jazz Pharmaceuticals had a return on equity of 27.86% and a net margin of 8.61%. The company had revenue of $901.98 million for the quarter, compared to analyst estimates of $938.99 million. Research analysts expect that Jazz Pharmaceuticals will post 15.35 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Jazz Pharmaceuticals news, EVP Neena M. Patil sold 5,000 shares of the business’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $109.65, for a total transaction of $548,250.00. Following the sale, the executive vice president now directly owns 36,629 shares in the company, valued at approximately $4,016,369.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 4.40% of the company’s stock.

Institutional Investors Weigh In On Jazz Pharmaceuticals

Institutional investors and hedge funds have recently made changes to their positions in the business. Baupost Group LLC MA boosted its position in shares of Jazz Pharmaceuticals by 23.7% in the 4th quarter. Baupost Group LLC MA now owns 833,696 shares of the specialty pharmaceutical company’s stock worth $102,545,000 after buying an additional 160,000 shares in the last quarter. Polaris Capital Management LLC boosted its position in shares of Jazz Pharmaceuticals by 2.2% in the 4th quarter. Polaris Capital Management LLC now owns 1,267,460 shares of the specialty pharmaceutical company’s stock worth $155,898,000 after buying an additional 27,100 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Jazz Pharmaceuticals in the 4th quarter worth about $380,000. International Assets Investment Management LLC purchased a new stake in shares of Jazz Pharmaceuticals in the 4th quarter worth about $7,201,000. Finally, Desjardins Global Asset Management Inc. purchased a new stake in shares of Jazz Pharmaceuticals in the 4th quarter worth about $1,943,000. 89.14% of the stock is currently owned by hedge funds and other institutional investors.

About Jazz Pharmaceuticals

Jazz Pharmaceuticals plc identifies, develops, and commercializes pharmaceutical products for unmet medical needs in the United States, Europe, and internationally. The company offers Xywav for cataplexy or excessive daytime sleepiness (EDS) with narcolepsy and idiopathic hypersomnia; Xyrem to treat cataplexy or EDS with narcolepsy; Epidiolex for seizures associated with Lennox-Gastaut and Dravet syndromes, or tuberous sclerosis complex; Zepzelca to treat metastatic small cell lung cancer, or with disease progression on or after platinum-based chemotherapy; Rylaze for acute lymphoblastic leukemia or lymphoblastic lymphoma; Enrylaze to treat acute lymphoblastic leukemia and lymphoblastic lymphoma; Defitelio to treat severe hepatic veno-occlusive disease; and Vyxeos for newly-diagnosed therapy-related acute myeloid leukemia.