Needham & Company LLC Forecasts Strong Price Appreciation for Jazz Pharmaceuticals (NASDAQ:JAZZ) Stock

Jazz Pharmaceuticals (NASDAQ:JAZZ) had its target price raised by equities research analysts at Needham & Company LLC from $255.00 to $282.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the specialty pharmaceutical company’s stock. Needham & Company LLC’s price target suggests a potential upside of 10.93% from the company’s current price.

Other equities research analysts have also recently issued research reports about the stock. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Jazz Pharmaceuticals from $250.00 to $270.00 and gave the stock a “buy” rating in a research note on Thursday, July 9th. Sanford C. Bernstein restated a “market perform” rating on shares of Jazz Pharmaceuticals in a research report on Tuesday, June 9th. Piper Sandler upped their price objective on shares of Jazz Pharmaceuticals from $232.00 to $301.00 and gave the company an “overweight” rating in a research note on Friday, May 22nd. Wells Fargo & Company increased their price objective on shares of Jazz Pharmaceuticals from $265.00 to $285.00 and gave the company an “overweight” rating in a report on Tuesday, July 14th. Finally, Leerink Partners raised their target price on shares of Jazz Pharmaceuticals from $215.00 to $225.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 22nd. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $259.06.

Jazz Pharmaceuticals Stock Performance

Shares of NASDAQ:JAZZ opened at $254.22 on Monday. The company has a debt-to-equity ratio of 0.95, a current ratio of 2.04 and a quick ratio of 1.85. The business’s 50 day moving average price is $236.03 and its 200-day moving average price is $201.74. The firm has a market capitalization of $15.97 billion, a PE ratio of -12,704.65, a P/E/G ratio of 0.21 and a beta of 0.32. Jazz Pharmaceuticals has a 1 year low of $105.00 and a 1 year high of $255.20.

Jazz Pharmaceuticals (NASDAQ:JAZZ) last issued 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 firm had revenue of $1.07 billion during the quarter. As a group, equities research analysts expect that Jazz Pharmaceuticals will post 21.9 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Bruce C. Cozadd sold 6,000 shares of the stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $240.47, for a total value of $1,442,820.00. Following the sale, the director directly owned 366,682 shares in the company, valued at approximately $88,176,020.54. This trade represents a 1.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing 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, EVP Neena M. Patil sold 1,200 shares of Jazz Pharmaceuticals stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $231.83, for a total transaction of $278,196.00. Following the completion of the transaction, the executive vice president owned 51,549 shares of the company’s stock, valued at $11,950,604.67. This represents a 2.27% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 13,098 shares of company stock worth $3,131,906. Insiders own 4.10% of the company’s stock.

Institutional Investors Weigh In On Jazz Pharmaceuticals

Several hedge funds and other institutional investors have recently made changes to their positions in JAZZ. Hilltop National Bank acquired a new position in Jazz Pharmaceuticals in the fourth quarter valued at approximately $36,000. LRI Investments LLC acquired a new stake in Jazz Pharmaceuticals during the fourth quarter worth approximately $38,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Jazz Pharmaceuticals during the 2nd quarter worth approximately $61,000. Westpac Banking Corp purchased a new stake in shares of Jazz Pharmaceuticals during the 1st quarter worth approximately $51,000. Finally, Leonteq Securities AG acquired a new position in shares of Jazz Pharmaceuticals in the 4th quarter valued at $50,000. Institutional investors and hedge funds own 89.14% of the company’s stock.

About Jazz Pharmaceuticals

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.