Jazz Pharmaceuticals (NASDAQ:JAZZ) Stock Rating Lowered by Wall Street Zen

Key Points

• Wall Street Zen downgraded Jazz Pharmaceuticals from “strong buy” to “buy,” though the broader analyst consensus remains “Buy,” with a consensus price target of $291.15.
• Jazz Pharmaceuticals opened at $235.67, with a $15.30 billion market capitalization. Its latest quarterly revenue rose 15.5% year over year to $1.21 billion, but earnings per share of $5.71 missed estimates of $6.18.
• Insiders sold more than $23 million of shares over the past three months, while institutional investors continued to hold a dominant 89.14% stake in the company.

Jazz Pharmaceuticals (NASDAQ:JAZZ - Get Free Report) was downgraded by Wall Street Zen from a "strong-buy" rating to a "buy" rating in a note issued to investors on Saturday, Wall Street Zen reports.

Other research analysts have also recently issued reports about the company. Barclays boosted their target price on Jazz Pharmaceuticals from $270.00 to $271.00 and gave the stock an "overweight" rating in a report on Thursday, September 10th. Royal Bank Of Canada set a $299.00 price objective on Jazz Pharmaceuticals in a research report on Friday, August 28th. Canaccord Genuity Group set a $300.00 price objective on Jazz Pharmaceuticals in a research note on Wednesday, August 26th. Weiss Ratings upgraded Jazz Pharmaceuticals from a "hold (c-)" rating to a "buy (b-)" rating in a report on Tuesday, August 4th. Finally, Piper Sandler lifted their target price on shares of Jazz Pharmaceuticals from $301.00 to $310.00 and gave the stock an "overweight" rating in a research note on Tuesday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $291.15.

Jazz Pharmaceuticals Stock Up 1.1%

NASDAQ JAZZ opened at $235.67 on Friday. The business has a fifty day moving average price of $247.07 and a 200 day moving average price of $229.37. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.58 and a current ratio of 1.78. The company has a market cap of $15.30 billion, a P/E ratio of 16.25, a P/E/G ratio of 0.21 and a beta of 0.37. Jazz Pharmaceuticals has a one year low of $128.80 and a one year high of $266.38.

Jazz Pharmaceuticals (NASDAQ:JAZZ - Get Free Report) last announced its earnings results on Monday, August 3rd. The specialty pharmaceutical company reported $5.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.18 by ($0.47). Jazz Pharmaceuticals had a return on equity of 33.97% and a net margin of 20.45%.The business had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.11 billion. During the same period last year, the firm earned ($8.25) EPS. The company's revenue for the quarter was up 15.5% compared to the same quarter last year. Research analysts anticipate that Jazz Pharmaceuticals will post 21.61 EPS for the current fiscal year.

Insider Transactions at Jazz Pharmaceuticals

In related news, EVP Neena Patil sold 1,200 shares of the stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $240.94, for a total transaction of $289,128.00. Following the transaction, the executive vice president owned 47,671 shares of the company's stock, valued at approximately $11,485,850.74. This represents a 2.46% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Renée Galá sold 2,000 shares of the firm's stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $243.03, for a total value of $486,060.00. Following the transaction, the chief executive officer owned 143,394 shares of the company's stock, valued at $34,849,043.82. This trade represents a 1.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 92,121 shares of company stock valued at $23,001,022. Corporate insiders own 4.10% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Allianz Asset Management GmbH boosted its holdings in Jazz Pharmaceuticals by 68.2% in the fourth quarter. Allianz Asset Management GmbH now owns 598,832 shares of the specialty pharmaceutical company's stock valued at $101,801,000 after purchasing an additional 242,892 shares during the period. Castleark Management LLC purchased a new stake in Jazz Pharmaceuticals during the 1st quarter worth about $9,214,000. Bank of America Corp DE increased its holdings in Jazz Pharmaceuticals by 10.9% during the 1st quarter. Bank of America Corp DE now owns 1,014,800 shares of the specialty pharmaceutical company's stock worth $191,848,000 after purchasing an additional 99,656 shares during the period. SEB Asset Management AB acquired a new stake in Jazz Pharmaceuticals in the 1st quarter valued at about $8,765,000. Finally, California Public Employees Retirement System raised its position in Jazz Pharmaceuticals by 10.6% in the 1st quarter. California Public Employees Retirement System now owns 124,583 shares of the specialty pharmaceutical company's stock valued at $23,552,000 after purchasing an additional 11,915 shares in the last quarter. Institutional investors and hedge funds own 89.14% of the company's stock.

Jazz Pharmaceuticals Company Profile

Jazz Pharmaceuticals plc is a biopharmaceutical company focused on developing and commercializing medicines for patients with serious neurological and oncology-related conditions. Founded in 2003 and headquartered in Dublin, Ireland, the company operates internationally, with a significant commercial presence in the United States and other markets.

Jazz's neuroscience portfolio includes Xywav and Xyrem, which contain oxybate and are used to treat narcolepsy-related symptoms; Xywav is also approved for idiopathic hypersomnia in adults.

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