Jazz Pharmaceuticals PLC (JAZZ) Upgraded at Zacks Investment Research
Jazz Pharmaceuticals PLC (NASDAQ:JAZZ) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research note issued on Wednesday.
According to Zacks, “Jazz is well-positioned in the sleep franchise market. Its lead product Xyrem has immense commercial potential. Jazz is looking to broaden Xyrem's label by expanding the targeted patient population. JZP-110 also complements Jazz’s existing sleep disorder portfolio. The Celator acquisition added Vyxeos, with multi-million dollar potential, to Jazz’ portfolio. However, Xyrem, is facing patent challenges and some of Xyrem’s patents are undergoing inter partes review. With Xyrem accounting for 72% of 2015 sales, the sooner-than-expected entry of generics would be a huge setback. Jazz has also been facing challenges in building sufficient inventory levels for Erwinaze due to constrained manufacturing capacity. Estimates have remained stable lately ahead of the company’s Q3 earnings release. The company has a positive record of earnings surprises in recent quarters.”
A number of other equities research analysts have also issued reports on the company. BMO Capital Markets reaffirmed an “outperform” rating and issued a $195.00 target price on shares of Jazz Pharmaceuticals PLC in a research note on Friday, October 7th. Goldman Sachs Group Inc. reaffirmed a “buy” rating and issued a $187.00 target price (down previously from $195.00) on shares of Jazz Pharmaceuticals PLC in a research note on Tuesday, September 27th. Mizuho reaffirmed a “buy” rating and issued a $185.00 target price on shares of Jazz Pharmaceuticals PLC in a research note on Thursday, September 15th. Leerink Swann reaffirmed an “outperform” rating and issued a $202.00 target price on shares of Jazz Pharmaceuticals PLC in a research note on Wednesday, September 7th. Finally, Janney Montgomery Scott assumed coverage on Jazz Pharmaceuticals PLC in a research note on Thursday, August 25th. They issued a “neutral” rating on the stock. Three research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $185.00.
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Jazz Pharmaceuticals PLC (NASDAQ:JAZZ) traded up 0.76% on Wednesday, reaching $120.26. The company had a trading volume of 115,189 shares. Jazz Pharmaceuticals PLC has a 12 month low of $108.50 and a 12 month high of $160.00. The stock has a market capitalization of $7.28 billion, a P/E ratio of 21.14 and a beta of 0.96. The firm has a 50-day moving average of $123.14 and a 200-day moving average of $139.48.
Jazz Pharmaceuticals PLC (NASDAQ:JAZZ) last posted its earnings results on Tuesday, August 9th. The specialty pharmaceutical company reported $2.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.80 by $0.17. Jazz Pharmaceuticals PLC had a net margin of 25.46% and a return on equity of 28.39%. The company earned $381 million during the quarter, compared to analysts’ expectations of $376.40 million. During the same period in the previous year, the company posted $2.41 EPS. Jazz Pharmaceuticals PLC’s quarterly revenue was up 14.2% compared to the same quarter last year. On average, equities research analysts expect that Jazz Pharmaceuticals PLC will post $9.97 earnings per share for the current fiscal year.
In related news, COO Russell J. Cox sold 4,000 shares of the stock in a transaction on Tuesday, August 9th. The stock was sold at an average price of $148.66, for a total value of $594,640.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Bruce C. Cozadd sold 1,000 shares of the stock in a transaction on Tuesday, August 9th. The shares were sold at an average price of $150.00, for a total value of $150,000.00. The disclosure for this sale can be found here. 3.90% of the stock is owned by corporate insiders.
Hedge funds have recently made changes to their positions in the stock. Springbok Capital Management LLC increased its stake in shares of Jazz Pharmaceuticals PLC by 21.8% in the first quarter. Springbok Capital Management LLC now owns 2,120 shares of the specialty pharmaceutical company’s stock valued at $277,000 after buying an additional 380 shares in the last quarter. Adage Capital Partners GP L.L.C. acquired a new stake in shares of Jazz Pharmaceuticals PLC during the first quarter valued at $6,528,000. Nuveen Asset Management LLC acquired a new stake in shares of Jazz Pharmaceuticals PLC during the first quarter valued at $1,352,000. Renaissance Technologies LLC increased its stake in shares of Jazz Pharmaceuticals PLC by 1,044.1% in the first quarter. Renaissance Technologies LLC now owns 215,100 shares of the specialty pharmaceutical company’s stock valued at $28,081,000 after buying an additional 196,300 shares in the last quarter. Finally, HBK Investments L P acquired a new stake in shares of Jazz Pharmaceuticals PLC during the first quarter valued at $980,000. Hedge funds and other institutional investors own 88.26% of the company’s stock.
About Jazz Pharmaceuticals PLC
Jazz Pharmaceuticals, Inc is a specialty pharmaceutical company focusing on the development and commercialization of pharmaceutical products to meet unmet medical needs in neurology and psychiatry. As of December 31, 2009, the Company markets two products: Xyrem (sodium oxybate) for the treatment of both cataplexy and excessive daytime sleepiness in patients with narcolepsy; and Luvox CR (fluvoxamine maleate) for the treatment of both obsessive compulsive disorder and social anxiety disorder.
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