Royal Bank of Canada Issues Pessimistic Forecast for Jazz Pharmaceuticals (NASDAQ:JAZZ) Stock Price

Jazz Pharmaceuticals (NASDAQ:JAZZ) had its price objective cut by Royal Bank of Canada from $179.00 to $178.00 in a report released on Wednesday,Benzinga reports. They currently have an outperform rating on the specialty pharmaceutical company’s stock.

Several other brokerages also recently commented on JAZZ. TD Cowen cut their target price on Jazz Pharmaceuticals from $200.00 to $195.00 and set a “buy” rating on the stock in a report on Thursday, November 7th. Piper Sandler reaffirmed an “overweight” rating and set a $163.00 target price on shares of Jazz Pharmaceuticals in a report on Thursday, December 12th. JPMorgan Chase & Co. lifted their target price on Jazz Pharmaceuticals from $200.00 to $209.00 and gave the stock an “overweight” rating in a report on Wednesday. Needham & Company LLC lifted their target price on Jazz Pharmaceuticals from $205.00 to $210.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Robert W. Baird lifted their target price on Jazz Pharmaceuticals from $154.00 to $162.00 and gave the stock an “outperform” rating in a report on Monday, November 18th. Two research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Jazz Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average target price of $182.47.

Jazz Pharmaceuticals Trading Up 3.2 %

Shares of JAZZ stock opened at $144.17 on Wednesday. The firm has a market capitalization of $8.72 billion, a P/E ratio of 20.31, a P/E/G ratio of 1.04 and a beta of 0.56. Jazz Pharmaceuticals has a twelve month low of $99.06 and a twelve month high of $148.06. The company has a quick ratio of 3.74, a current ratio of 4.26 and a debt-to-equity ratio of 1.46. The stock’s fifty day simple moving average is $125.42 and its 200 day simple moving average is $118.44.

Insider Buying and Selling

In related news, CEO Bruce C. Cozadd sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $122.31, for a total transaction of $183,465.00. Following the transaction, the chief executive officer now directly owns 439,744 shares of the company’s stock, valued at approximately $53,785,088.64. This represents a 0.34 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last three months, insiders have sold 5,053 shares of company stock valued at $617,442. 4.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in JAZZ. Raymond James & Associates raised its stake in Jazz Pharmaceuticals by 13.3% during the 3rd quarter. Raymond James & Associates now owns 53,611 shares of the specialty pharmaceutical company’s stock worth $5,973,000 after buying an additional 6,293 shares during the period. Allspring Global Investments Holdings LLC raised its stake in Jazz Pharmaceuticals by 9.0% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 19,629 shares of the specialty pharmaceutical company’s stock worth $2,187,000 after buying an additional 1,616 shares during the period. Private Advisor Group LLC raised its stake in Jazz Pharmaceuticals by 238.6% during the 3rd quarter. Private Advisor Group LLC now owns 7,716 shares of the specialty pharmaceutical company’s stock worth $860,000 after buying an additional 5,437 shares during the period. International Assets Investment Management LLC acquired a new position in Jazz Pharmaceuticals during the 3rd quarter worth approximately $6,703,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in Jazz Pharmaceuticals by 15.1% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,476 shares of the specialty pharmaceutical company’s stock worth $275,000 after purchasing an additional 325 shares in the last quarter. 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.