Barclays Cuts Jazz Pharmaceuticals (NASDAQ:JAZZ) Price Target to $200.00

Jazz Pharmaceuticals (NASDAQ:JAZZ) had its price target lowered by Barclays from $230.00 to $200.00 in a research report report published on Friday, Benzinga reports. The brokerage currently has an overweight rating on the specialty pharmaceutical company’s stock.

Several other brokerages also recently issued reports on JAZZ. Stifel Nicolaus boosted their price target on shares of Jazz Pharmaceuticals from $225.00 to $230.00 and gave the company a buy rating in a report on Friday, March 15th. HC Wainwright decreased their target price on shares of Jazz Pharmaceuticals from $204.00 to $200.00 and set a buy rating for the company in a research report on Thursday, March 14th. Royal Bank of Canada reaffirmed an outperform rating and set a $195.00 price target on shares of Jazz Pharmaceuticals in a report on Thursday, February 29th. Piper Sandler increased their price objective on Jazz Pharmaceuticals from $171.00 to $188.00 and gave the stock an overweight rating in a report on Wednesday, March 20th. Finally, JPMorgan Chase & Co. lifted their target price on Jazz Pharmaceuticals from $170.00 to $190.00 and gave the company an overweight rating in a research note on Friday, March 22nd. Two investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, Jazz Pharmaceuticals currently 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 $109.85 on Friday. 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 firm has a 50-day simple moving average of $115.98 and a 200 day simple moving average of $120.78. Jazz Pharmaceuticals has a fifty-two week low of $103.01 and a fifty-two week high of $146.70. The company has a market cap of $6.92 billion, a PE ratio of 22.65, a P/E/G ratio of 1.53 and a beta of 0.63.

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

Insider Activity at Jazz Pharmaceuticals

In other news, CAO Patricia Carr sold 1,936 shares of Jazz Pharmaceuticals stock in a transaction that occurred 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 transaction, the chief accounting officer now owns 8,364 shares of the company’s stock, valued at approximately $1,000,668.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related 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 price of $119.65 per share, for a total transaction of $1,435,800.00. Following 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 filing with the SEC, which is available through this hyperlink. Also, CAO Patricia Carr sold 1,936 shares of the firm’s stock in a transaction on Wednesday, March 6th. The stock was 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 $1,000,668.96. The disclosure for this sale can be found here. 4.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Jazz Pharmaceuticals

Several hedge funds have recently modified their holdings of JAZZ. Baupost Group LLC MA lifted its stake in Jazz Pharmaceuticals by 23.7% during the fourth quarter. Baupost Group LLC MA now owns 833,696 shares of the specialty pharmaceutical company’s stock valued at $102,545,000 after buying an additional 160,000 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in shares of Jazz Pharmaceuticals in the 4th quarter valued at approximately $7,201,000. Desjardins Global Asset Management Inc. purchased a new stake in shares of Jazz Pharmaceuticals in the fourth quarter valued at $1,943,000. Kovack Advisors Inc. boosted its position in shares of Jazz Pharmaceuticals by 347.1% in the fourth quarter. Kovack Advisors Inc. now owns 29,971 shares of the specialty pharmaceutical company’s stock worth $3,686,000 after buying an additional 23,267 shares during the period. Finally, DekaBank Deutsche Girozentrale grew its holdings in shares of Jazz Pharmaceuticals by 94.2% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 91,540 shares of the specialty pharmaceutical company’s stock valued at $11,210,000 after buying an additional 44,414 shares in the last quarter. 89.14% of the stock is owned by hedge funds and other 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.