Piper Sandler Increases Jazz Pharmaceuticals (NASDAQ:JAZZ) Price Target to $232.00

Jazz Pharmaceuticals (NASDAQ:JAZZ) had its target price boosted by stock analysts at Piper Sandler from $219.00 to $232.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the specialty pharmaceutical company’s stock. Piper Sandler’s price objective would indicate a potential upside of 28.45% from the stock’s current price.

Other equities analysts also recently issued reports about the company. Bank of America boosted their price objective on Jazz Pharmaceuticals from $263.00 to $275.00 and gave the stock a “buy” rating in a research report on Wednesday, February 25th. Barclays reaffirmed an “overweight” rating and set a $224.00 target price on shares of Jazz Pharmaceuticals in a research note on Monday, March 9th. Truist Financial increased their price target on Jazz Pharmaceuticals from $220.00 to $230.00 and gave the stock a “buy” rating in a research note on Monday, January 12th. Royal Bank Of Canada raised their price target on Jazz Pharmaceuticals from $191.00 to $195.00 and gave the company an “outperform” rating in a report on Wednesday, February 25th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Jazz Pharmaceuticals in a research note on Monday, December 29th. Thirteen equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Jazz Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus price target of $215.38.

Jazz Pharmaceuticals Trading Down 0.6%

Shares of NASDAQ:JAZZ opened at $180.62 on Thursday. The company has a quick ratio of 1.67, a current ratio of 1.86 and a debt-to-equity ratio of 1.00. The company’s 50-day moving average price is $173.81 and its 200 day moving average price is $157.89. The company has a market cap of $11.12 billion, a PE ratio of -30.25, a P/E/G ratio of 0.33 and a beta of 0.22. Jazz Pharmaceuticals has a fifty-two week low of $95.49 and a fifty-two week high of $198.00.

Jazz Pharmaceuticals (NASDAQ:JAZZ) last posted its earnings results on Tuesday, February 24th. The specialty pharmaceutical company reported $6.64 EPS for the quarter, topping the consensus estimate of $6.49 by $0.15. Jazz Pharmaceuticals had a negative net margin of 8.35% and a positive return on equity of 6.87%. The firm had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.17 billion. During the same quarter in the prior year, the firm earned $6.51 EPS. Jazz Pharmaceuticals’s quarterly revenue was up 8.1% on a year-over-year basis. Sell-side analysts anticipate that Jazz Pharmaceuticals will post 16.96 earnings per share for the current year.

Insider Activity

In related news, Director Norbert G. Riedel sold 3,415 shares of the firm’s stock in a transaction that occurred on Friday, February 27th. The shares were sold at an average price of $192.00, for a total value of $655,680.00. Following the completion of the transaction, the director owned 7,024 shares of the company’s stock, valued at approximately $1,348,608. This trade represents a 32.71% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Neena M. Patil sold 55,600 shares of Jazz Pharmaceuticals stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $191.56, for a total transaction of $10,650,736.00. Following the transaction, the executive vice president owned 56,862 shares in the company, valued at approximately $10,892,484.72. The trade was a 49.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 68,015 shares of company stock worth $13,037,486 in the last quarter. Insiders own 4.30% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Farther Finance Advisors LLC raised its position in Jazz Pharmaceuticals by 754.8% during the third quarter. Farther Finance Advisors LLC now owns 265 shares of the specialty pharmaceutical company’s stock valued at $35,000 after buying an additional 234 shares during the period. Hilltop National Bank acquired a new stake in Jazz Pharmaceuticals during the 4th quarter worth about $36,000. LRI Investments LLC purchased a new position in Jazz Pharmaceuticals during the 4th quarter valued at about $38,000. Danske Bank A S purchased a new position in Jazz Pharmaceuticals during the 3rd quarter valued at about $40,000. Finally, Quent Capital LLC acquired a new position in shares of Jazz Pharmaceuticals in the 3rd quarter valued at about $44,000. Hedge funds and other institutional investors own 89.14% of the company’s stock.

Jazz Pharmaceuticals Company Profile

Jazz Pharmaceuticals plc is a global biopharmaceutical company focused on developing and commercializing therapies in neuroscience and oncology. The company’s research and development efforts target unmet medical needs in sleep disorders, hematologic malignancies, rare neurological conditions and solid tumors. Jazz’s product portfolio includes therapies for narcolepsy, hepatic veno-occlusive disease, acute myeloid leukemia and other serious disorders.

Flagship products from Jazz Pharmaceuticals include Xyrem® (sodium oxybate) and Xywav® (calcium, magnesium, potassium, and sodium oxybates) for the treatment of cataplexy and excessive daytime sleepiness in patients with narcolepsy.