Jazz Pharmaceuticals PLC (NASDAQ:JAZZ) Given Consensus Recommendation of "Buy" by Analysts

Key Points

• Analysts maintain a bullish outlook: Nineteen research firms give Jazz Pharmaceuticals a consensus “Buy” rating, with 17 buys, one hold and one strong buy. The average 12-month price target is approximately $272.89.
• Shares have gained 2.3%: Jazz opened at $260.23, near its 52-week high of $266.38, with a market capitalization of $16.89 billion.
• Quarterly results were mixed: The company reported $5.71 in adjusted earnings per share, below the $6.18 consensus estimate, but revenue of $1.21 billion exceeded expectations and increased 15.5% year over year.

Shares of Jazz Pharmaceuticals PLC (NASDAQ:JAZZ - Get Free Report) have been given a consensus recommendation of "Buy" by the nineteen research firms that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation, seventeen have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $272.8947.

A number of brokerages have recently issued reports on JAZZ. Royal Bank Of Canada increased their price objective on shares of Jazz Pharmaceuticals from $195.00 to $258.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 6th. Robert W. Baird upped their target price on shares of Jazz Pharmaceuticals from $252.00 to $280.00 and gave the stock an "outperform" rating in a report on Tuesday, August 4th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and set a $287.00 price target on shares of Jazz Pharmaceuticals in a report on Tuesday, August 4th. Truist Financial set a $264.00 price objective on Jazz Pharmaceuticals and gave the stock a "buy" rating in a research note on Tuesday, August 4th. Finally, UBS Group reissued a "buy" rating and set a $315.00 target price on shares of Jazz Pharmaceuticals in a research note on Tuesday, August 4th.

Jazz Pharmaceuticals Stock Up 2.3%

NASDAQ JAZZ opened at $260.23 on Wednesday. The stock's 50-day moving average price is $245.93 and its 200-day moving average price is $216.92. The company has a quick ratio of 1.58, a current ratio of 1.78 and a debt-to-equity ratio of 0.69. Jazz Pharmaceuticals has a 52 week low of $122.50 and a 52 week high of $266.38. The company has a market capitalization of $16.89 billion, a P/E ratio of 17.95, a price-to-earnings-growth ratio of 0.23 and a beta of 0.32.

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

Insider Transactions at Jazz Pharmaceuticals

In other Jazz Pharmaceuticals news, Director Mark Douglas Smith sold 1,157 shares of the stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $230.55, for a total transaction of $266,746.35. Following the completion of the transaction, the director owned 9,680 shares of the company's stock, valued at $2,231,724. This represents a 10.68% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bruce C. Cozadd sold 6,000 shares of the firm's stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $252.98, for a total value of $1,517,880.00. Following the transaction, the director owned 360,682 shares of the company's stock, valued at approximately $91,245,332.36. The trade was a 1.64% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 14,357 shares of company stock valued at $3,505,642. 4.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Jazz Pharmaceuticals

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

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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