Jazz Pharmaceuticals (NASDAQ:JAZZ) Price Target Lowered to $254.00 at Truist Financial

Jazz Pharmaceuticals (NASDAQ:JAZZ) had its price target decreased by analysts at Truist Financial from $256.00 to $254.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the specialty pharmaceutical company’s stock. Truist Financial’s price objective suggests a potential upside of 4.03% from the company’s previous close.

A number of other brokerages also recently commented on JAZZ. Piper Sandler upped their target price on Jazz Pharmaceuticals from $232.00 to $301.00 and gave the company an “overweight” rating in a report on Friday, May 22nd. Barclays lifted their price target on shares of Jazz Pharmaceuticals from $234.00 to $253.00 and gave the company an “overweight” rating in a report on Wednesday, May 27th. Royal Bank Of Canada boosted their price objective on shares of Jazz Pharmaceuticals from $195.00 to $258.00 and gave the company an “outperform” rating in a research report on Wednesday, May 6th. Weiss Ratings upgraded shares of Jazz Pharmaceuticals from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, June 29th. Finally, Wells Fargo & Company raised their target price on shares of Jazz Pharmaceuticals from $250.00 to $265.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. Sixteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $245.94.

Jazz Pharmaceuticals Stock Performance

Jazz Pharmaceuticals stock opened at $244.17 on Tuesday. Jazz Pharmaceuticals has a 1-year low of $105.00 and a 1-year high of $246.07. The firm has a market cap of $15.34 billion, a P/E ratio of -12,202.40, a P/E/G ratio of 0.21 and a beta of 0.32. The company has a current ratio of 2.04, a quick ratio of 1.85 and a debt-to-equity ratio of 0.95. The firm has a 50-day moving average of $229.26 and a 200-day moving average of $195.95.

Jazz Pharmaceuticals (NASDAQ:JAZZ) last released its quarterly earnings results on Tuesday, March 31st. The specialty pharmaceutical company reported $6.34 EPS for the quarter. Jazz Pharmaceuticals had a return on equity of 14.56% and a net margin of 0.66%.The business had revenue of $1.07 billion during the quarter. Sell-side analysts expect that Jazz Pharmaceuticals will post 22.09 EPS for the current year.

Insiders Place Their Bets

In other news, Director Mark Douglas Smith sold 1,157 shares of Jazz Pharmaceuticals stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $230.55, for a total transaction of $266,746.35. Following the completion of the transaction, the director directly owned 9,680 shares in the company, valued at approximately $2,231,724. This trade represents a 10.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Rick E. Winningham sold 2,741 shares of the business’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $241.57, for a total value of $662,143.37. Following the completion of the sale, the director directly owned 9,567 shares in the company, valued at approximately $2,311,100.19. This represents a 22.27% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 13,098 shares of company stock valued at $3,131,906. Insiders own 4.10% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in JAZZ. Vestal Point Capital LP bought a new position in Jazz Pharmaceuticals in the 2nd quarter worth about $127,344,000. Goldentree Asset Management LP bought a new stake in shares of Jazz Pharmaceuticals during the third quarter valued at approximately $149,597,000. Franklin Resources Inc. increased its position in shares of Jazz Pharmaceuticals by 164.0% during the fourth quarter. Franklin Resources Inc. now owns 1,818,911 shares of the specialty pharmaceutical company’s stock valued at $309,215,000 after acquiring an additional 1,129,995 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Jazz Pharmaceuticals by 160.2% in the 4th quarter. Bank of New York Mellon Corp now owns 1,161,857 shares of the specialty pharmaceutical company’s stock worth $197,516,000 after acquiring an additional 715,361 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. raised its holdings in Jazz Pharmaceuticals by 258.2% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 548,000 shares of the specialty pharmaceutical company’s stock worth $93,160,000 after acquiring an additional 395,000 shares during the last quarter. 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.