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

Needham & Company LLC reiterated their buy rating on shares of Jazz Pharmaceuticals (NASDAQ:JAZZ) in a report released on Thursday morning, Benzinga reports. Needham & Company LLC currently has a $222.00 target price on the specialty pharmaceutical company’s stock.

Several other equities analysts have also weighed in on the stock. Piper Sandler increased their price target on shares of Jazz Pharmaceuticals from $171.00 to $188.00 and gave the company an overweight rating in a research report on Wednesday, March 20th. Barclays decreased their price target on shares of Jazz Pharmaceuticals from $235.00 to $230.00 and set an overweight rating for the company in a research note on Friday, March 1st. Cantor Fitzgerald reiterated an overweight rating and issued a $180.00 price objective on shares of Jazz Pharmaceuticals in a research note on Wednesday, April 10th. Robert W. Baird assumed coverage on Jazz Pharmaceuticals in a research report on Wednesday, January 3rd. They issued an outperform rating and a $160.00 target price for the company. Finally, HC Wainwright dropped their price target on Jazz Pharmaceuticals from $204.00 to $200.00 and set a buy rating on the stock in a research report on Thursday, March 14th. Two equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of Moderate Buy and a consensus target price of $192.75.

Jazz Pharmaceuticals Price Performance

Shares of NASDAQ JAZZ opened at $110.01 on Thursday. The company has a market capitalization of $6.94 billion, a PE ratio of 22.68, a PEG ratio of 1.53 and a beta of 0.63. The company has a quick ratio of 1.90, a current ratio of 2.27 and a debt-to-equity ratio of 1.38. The stock’s 50 day moving average price is $116.44 and its 200-day moving average price is $120.94. Jazz Pharmaceuticals has a twelve month low of $103.01 and a twelve month high of $146.70.

Jazz Pharmaceuticals (NASDAQ:JAZZ) last issued its quarterly earnings results on Wednesday, February 28th. The specialty pharmaceutical company reported $4.40 EPS for the quarter, missing analysts’ consensus estimates of $4.44 by ($0.04). The business had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1.01 billion. Jazz Pharmaceuticals had a return on equity of 27.86% and a net margin of 8.61%. On average, equities analysts anticipate that Jazz Pharmaceuticals will post 16.24 EPS for the current year.

Insider Buying and Selling at Jazz Pharmaceuticals

In other news, CFO Philip L. Johnson acquired 12,000 shares of the business’s stock in a transaction dated Friday, March 1st. The stock was bought at an average cost of $119.65 per share, for a total transaction of $1,435,800.00. Following the completion of the transaction, the chief financial officer now owns 27,932 shares of the company’s stock, valued at $3,342,063.80. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Philip L. Johnson purchased 12,000 shares of the firm’s stock in a transaction dated Friday, March 1st. The shares were purchased at an average price of $119.65 per share, with a total value of $1,435,800.00. Following the completion of the acquisition, the chief financial officer now owns 27,932 shares in the company, valued at approximately $3,342,063.80. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Patricia Carr sold 1,936 shares of Jazz Pharmaceuticals stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $119.64, for a total value of $231,623.04. Following the sale, the chief accounting officer now directly owns 8,364 shares of the company’s stock, valued at approximately $1,000,668.96. The disclosure for this sale can be found here. Insiders own 4.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of JAZZ. Rise Advisors LLC raised its position in shares of Jazz Pharmaceuticals by 2,255.6% during the 1st quarter. Rise Advisors LLC now owns 212 shares of the specialty pharmaceutical company’s stock valued at $26,000 after buying an additional 203 shares in the last quarter. Cape Investment Advisory Inc. increased its stake in shares of Jazz Pharmaceuticals by 14,600.0% in the fourth quarter. Cape Investment Advisory Inc. now owns 294 shares of the specialty pharmaceutical company’s stock worth $36,000 after buying an additional 292 shares during the period. Covestor Ltd raised its holdings in Jazz Pharmaceuticals by 676.5% during the 3rd quarter. Covestor Ltd now owns 396 shares of the specialty pharmaceutical company’s stock valued at $51,000 after buying an additional 345 shares during the last quarter. Assetmark Inc. boosted its position in Jazz Pharmaceuticals by 37.1% during the 4th quarter. Assetmark Inc. now owns 440 shares of the specialty pharmaceutical company’s stock valued at $54,000 after buying an additional 119 shares during the period. Finally, Spire Wealth Management grew its holdings in Jazz Pharmaceuticals by 128.6% in the 3rd quarter. Spire Wealth Management now owns 423 shares of the specialty pharmaceutical company’s stock worth $55,000 after acquiring an additional 238 shares during the last quarter. 89.14% of the stock is currently owned by institutional investors.

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.