Jazz Pharmaceuticals (NASDAQ:JAZZ) Upgraded at Morgan Stanley

Morgan Stanley upgraded shares of Jazz Pharmaceuticals (NASDAQ:JAZZ) from an equal weight rating to an overweight rating in a research report report published on Thursday morning, Marketbeat.com reports. They currently have $175.00 price objective on the specialty pharmaceutical company’s stock, up from their previous price objective of $140.00.

JAZZ has been the topic of several other research reports. TD Cowen dropped their price target on shares of Jazz Pharmaceuticals from $200.00 to $195.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. JPMorgan Chase & Co. lifted their price target on shares of Jazz Pharmaceuticals from $190.00 to $202.00 and gave the stock an “overweight” rating in a research note on Monday, August 19th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $140.00 price target on shares of Jazz Pharmaceuticals in a research note on Monday, September 9th. Piper Sandler reaffirmed an “overweight” rating and set a $163.00 price target (down previously from $166.00) on shares of Jazz Pharmaceuticals in a research note on Thursday, November 21st. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $179.00 price target on shares of Jazz Pharmaceuticals in a research note on Tuesday, December 10th. Two research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Jazz Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average price target of $177.00.

Jazz Pharmaceuticals Stock Performance

Jazz Pharmaceuticals stock opened at $123.04 on Thursday. Jazz Pharmaceuticals has a 12-month low of $99.06 and a 12-month high of $134.17. The company has a market capitalization of $7.44 billion, a price-to-earnings ratio of 17.33, a price-to-earnings-growth ratio of 1.02 and a beta of 0.57. The company has a debt-to-equity ratio of 1.46, a current ratio of 4.26 and a quick ratio of 3.74. The firm’s fifty day moving average price is $117.39 and its 200 day moving average price is $112.16.

Insider Activity at Jazz Pharmaceuticals

In related news, CEO Bruce C. Cozadd sold 1,000 shares of the business’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $110.84, for a total transaction of $110,840.00. Following the completion of the sale, the chief executive officer now owns 428,976 shares of the company’s stock, valued at $47,547,699.84. This represents a 0.23 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Neena M. Patil sold 3,700 shares of the business’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $123.41, for a total transaction of $456,617.00. Following the sale, the executive vice president now directly owns 33,048 shares of the company’s stock, valued at approximately $4,078,453.68. This represents a 10.07 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 6,753 shares of company stock valued at $816,289 in the last quarter. Insiders own 4.20% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. LSV Asset Management boosted its stake in Jazz Pharmaceuticals by 4.2% during the 2nd quarter. LSV Asset Management now owns 2,480,563 shares of the specialty pharmaceutical company’s stock valued at $264,750,000 after purchasing an additional 99,705 shares during the period. Pacer Advisors Inc. boosted its stake in Jazz Pharmaceuticals by 15.3% during the 3rd quarter. Pacer Advisors Inc. now owns 2,099,378 shares of the specialty pharmaceutical company’s stock valued at $233,892,000 after purchasing an additional 278,465 shares during the period. Baupost Group LLC MA boosted its stake in Jazz Pharmaceuticals by 52.8% during the 2nd quarter. Baupost Group LLC MA now owns 1,274,248 shares of the specialty pharmaceutical company’s stock valued at $136,000,000 after purchasing an additional 440,552 shares during the period. Dimensional Fund Advisors LP boosted its stake in Jazz Pharmaceuticals by 48.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,222,198 shares of the specialty pharmaceutical company’s stock valued at $130,447,000 after purchasing an additional 398,549 shares during the period. Finally, Franklin Resources Inc. boosted its stake in Jazz Pharmaceuticals by 4.6% during the 3rd quarter. Franklin Resources Inc. now owns 1,118,688 shares of the specialty pharmaceutical company’s stock valued at $124,208,000 after purchasing an additional 48,708 shares during the period. 89.14% of the stock is owned by institutional investors and hedge funds.

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.