Jazz Pharmaceuticals (NASDAQ:JAZZ) Price Target Raised to $310.00

Key Points

• Needham raised Jazz Pharmaceuticals’ price target to $310 from $292 and maintained a “buy” rating, implying 19.13% upside from the prior close.
• Analyst sentiment remains broadly positive, with a consensus “Buy” rating and average price target of $274.53; UBS holds the highest cited target at $315.
• Jazz reported quarterly revenue of $1.21 billion, exceeding expectations, though adjusted EPS of $5.71 missed the $6.18 consensus estimate. Shares opened at $260.23, up 2.3%.

Jazz Pharmaceuticals (NASDAQ:JAZZ - Get Free Report) had its price target lifted by equities researchers at Needham & Company LLC from $292.00 to $310.00 in a report issued on Wednesday,Benzinga reports. The firm presently has a "buy" rating on the specialty pharmaceutical company's stock. Needham & Company LLC's target price would indicate a potential upside of 19.13% from the company's previous close.

Several other equities research analysts also recently weighed in on the stock. Raymond James Financial reiterated an "outperform" rating and set a $239.00 target price on shares of Jazz Pharmaceuticals in a research note on Wednesday, May 6th. Royal Bank Of Canada boosted their price target on 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 raised Jazz Pharmaceuticals from a "hold (c-)" rating to a "buy (b-)" rating in a research note on Tuesday, August 4th. Robert W. Baird lifted their target price on Jazz Pharmaceuticals from $252.00 to $280.00 and gave the company an "outperform" rating in a research note on Tuesday, August 4th. Finally, UBS Group reissued a "buy" rating and issued a $315.00 target price on shares of Jazz Pharmaceuticals in a report on Tuesday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, Jazz Pharmaceuticals currently has an average rating of "Buy" and a consensus price target of $274.53.

Jazz Pharmaceuticals Stock Up 2.3%

Shares of NASDAQ:JAZZ opened at $260.23 on Wednesday. The firm has a 50 day simple moving average of $245.93 and a 200-day simple moving average of $216.92. Jazz Pharmaceuticals has a twelve month low of $122.50 and a twelve month high of $266.38. The company has a current ratio of 1.78, a quick ratio of 1.58 and a debt-to-equity ratio of 0.69. The company has a market capitalization of $16.89 billion, a PE ratio of 17.95, a P/E/G ratio of 0.23 and a beta of 0.32.

Jazz Pharmaceuticals (NASDAQ:JAZZ - Get Free Report) last released its quarterly earnings results on Monday, August 3rd. The specialty pharmaceutical company reported $5.71 EPS for the quarter, missing the consensus estimate of $6.18 by ($0.47). Jazz Pharmaceuticals had a net margin of 20.45% and a return on equity of 33.97%. The business had revenue of $1.21 billion during the quarter, compared to analysts' expectations of $1.11 billion. During the same quarter last year, the company earned ($8.25) EPS. The firm's revenue for the quarter was up 15.5% compared to the same quarter last year. On average, equities analysts predict that Jazz Pharmaceuticals will post 21.66 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Bruce C. Cozadd sold 6,000 shares of the stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $252.98, for a total transaction of $1,517,880.00. Following the completion of the transaction, the director directly owned 360,682 shares of the company's stock, valued at $91,245,332.36. This represents a 1.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 value of $266,746.35. Following the completion of the sale, the director directly owned 9,680 shares in the company, valued at $2,231,724. This represents a 10.68% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 14,357 shares of company stock valued at $3,505,642 over the last ninety days. Corporate insiders own 4.10% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. USA Financial Formulas acquired a new stake in Jazz Pharmaceuticals in the first quarter valued at $25,000. Ameritas Advisory Services LLC acquired a new position in shares of Jazz Pharmaceuticals during the 2nd quarter worth $47,000. LRI Investments LLC acquired a new position in shares of Jazz Pharmaceuticals during the 4th quarter worth $38,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Jazz Pharmaceuticals in the 2nd quarter valued at about $61,000. Finally, Westpac Banking Corp purchased a new position in shares of Jazz Pharmaceuticals in the 1st quarter valued at about $51,000. Institutional investors and hedge funds own 89.14% of the company's stock.

Trending Headlines about Jazz Pharmaceuticals

Here are the key news stories impacting Jazz Pharmaceuticals this week:

• Positive Sentiment: Ziihera received expanded FDA approval for two first-line treatment regimens in unresectable or metastatic HER2-positive gastroesophageal adenocarcinoma. The approval covers Ziihera with tislelizumab and chemotherapy for both IHC 3+ and IHC 2+/ISH+ patients, regardless of PD-L1 status, as well as Ziihera with chemotherapy for IHC 3+ patients. The broader label increases the drug’s addressable market and supports Jazz’s growth strategy. FDA approval announcement
• Positive Sentiment: Analyst and industry coverage characterized Ziihera’s approval as potentially practice-changing and capable of supporting blockbuster sales, making the oncology drug an increasingly important contributor to Jazz’s future revenue growth. Ziihera sales outlook Ziihera industry coverage
• Positive Sentiment: Brokerages collectively maintain an average “Buy” recommendation, indicating that analyst sentiment remains supportive following the regulatory approval. Brokerage recommendation
• Neutral Sentiment: Jazz plans to issue $1.0 billion of exchangeable senior notes due 2032, with an option for purchasers to buy up to an additional $150 million. Concurrent ordinary-share repurchases may help offset potential exchange-related dilution, but the transaction also increases financing complexity and leverage. Exchangeable notes and share repurchases
• Neutral Sentiment: Reported short-interest data showed zero shares and a zero-day short ratio, which provides no meaningful evidence of short-selling pressure.

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.

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