Jazz Pharmaceuticals (NASDAQ:JAZZ) Earns “Buy” Rating from Needham & Company LLC

Jazz Pharmaceuticals (NASDAQ:JAZZ)‘s stock had its “buy” rating reiterated by investment analysts at Needham & Company LLC in a research note issued to investors on Wednesday,Benzinga reports. They currently have a $210.00 price target on the specialty pharmaceutical company’s stock. Needham & Company LLC’s price target would suggest a potential upside of 49.26% from the stock’s current price.

A number of other equities research analysts have also issued reports on JAZZ. Morgan Stanley upgraded Jazz Pharmaceuticals from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $140.00 to $175.00 in a research note on Thursday, December 12th. Barclays reissued an “overweight” rating and issued a $200.00 target price (up from $190.00) on shares of Jazz Pharmaceuticals in a report on Thursday, February 27th. Wells Fargo & Company raised shares of Jazz Pharmaceuticals from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $130.00 to $170.00 in a research report on Thursday, February 13th. Robert W. Baird lifted their target price on Jazz Pharmaceuticals from $154.00 to $162.00 and gave the company an “outperform” rating in a research report on Monday, November 18th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $200.00 price target on shares of Jazz Pharmaceuticals in a research report on Friday, November 22nd. Two equities 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. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $182.47.

Jazz Pharmaceuticals Stock Performance

NASDAQ:JAZZ traded up $1.74 on Wednesday, hitting $140.69. The stock had a trading volume of 265,585 shares, compared to its average volume of 721,354. The business’s 50-day simple moving average is $127.31 and its two-hundred day simple moving average is $119.57. 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 has a market cap of $8.54 billion, a price-to-earnings ratio of 19.82, a price-to-earnings-growth ratio of 1.04 and a beta of 0.56. Jazz Pharmaceuticals has a 52-week low of $99.06 and a 52-week high of $148.06.

Insider Activity at Jazz Pharmaceuticals

In other Jazz Pharmaceuticals news, CAO Patricia Carr sold 4,813 shares of the firm’s stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $144.42, for a total value of $695,093.46. Following the sale, the chief accounting officer now directly owns 8,237 shares in the company, valued at $1,189,587.54. This trade represents a 36.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Bruce C. Cozadd sold 1,500 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $123.43, for a total value of $185,145.00. Following the transaction, the chief executive officer now directly owns 425,525 shares of the company’s stock, valued at approximately $52,522,550.75. This represents a 0.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 18,113 shares of company stock valued at $2,551,834 over the last 90 days. 4.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Jazz Pharmaceuticals

Several hedge funds and other institutional investors have recently made changes to their positions in JAZZ. Bessemer Group Inc. grew its stake in shares of Jazz Pharmaceuticals by 0.3% in the 4th quarter. Bessemer Group Inc. now owns 26,932 shares of the specialty pharmaceutical company’s stock valued at $3,317,000 after purchasing an additional 92 shares during the last quarter. CIBC Asset Management Inc grew its position in Jazz Pharmaceuticals by 5.2% in the 4th quarter. CIBC Asset Management Inc now owns 1,972 shares of the specialty pharmaceutical company’s stock valued at $243,000 after buying an additional 97 shares during the last quarter. Synovus Financial Corp increased its stake in Jazz Pharmaceuticals by 0.5% in the 4th quarter. Synovus Financial Corp now owns 19,206 shares of the specialty pharmaceutical company’s stock valued at $2,365,000 after buying an additional 100 shares during the period. Quarry LP increased its stake in Jazz Pharmaceuticals by 6.3% in the 4th quarter. Quarry LP now owns 1,700 shares of the specialty pharmaceutical company’s stock valued at $209,000 after buying an additional 100 shares during the period. Finally, Quadrant Capital Group LLC raised its position in Jazz Pharmaceuticals by 97.1% during the 4th quarter. Quadrant Capital Group LLC now owns 205 shares of the specialty pharmaceutical company’s stock worth $25,000 after buying an additional 101 shares during the last quarter. Institutional investors and hedge funds own 89.14% of the company’s stock.

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.