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Jazz Pharmaceuticals (NASDAQ:JAZZ) Earns "Buy" Rating from Needham & Company LLC

Jazz Pharmaceuticals logo with Medical background

Jazz Pharmaceuticals (NASDAQ:JAZZ - Get Free Report)'s stock had its "buy" rating reiterated by investment analysts at Needham & Company LLC in a research note issued to investors on Tuesday,Benzinga reports. They presently have a $202.00 target price on the specialty pharmaceutical company's stock. Needham & Company LLC's price target would suggest a potential upside of 81.77% from the stock's previous close.

Other equities analysts also recently issued reports about the stock. JPMorgan Chase & Co. upped their price target on shares of Jazz Pharmaceuticals from $200.00 to $209.00 and gave the company an "overweight" rating in a report on Wednesday, February 26th. Piper Sandler reiterated an "overweight" rating and set a $147.00 price target (down from $176.00) on shares of Jazz Pharmaceuticals in a report on Wednesday, May 7th. Barclays reiterated an "overweight" rating and set a $200.00 price target (up from $190.00) on shares of Jazz Pharmaceuticals in a report on Thursday, February 27th. Wells Fargo & Company raised shares of Jazz Pharmaceuticals from an "equal weight" rating to an "overweight" rating and boosted their price objective for the company from $130.00 to $170.00 in a research report on Thursday, February 13th. Finally, UBS Group raised shares of Jazz Pharmaceuticals from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $145.00 to $179.00 in a research report on Friday, March 7th. Two research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, Jazz Pharmaceuticals currently has a consensus rating of "Moderate Buy" and a consensus price target of $184.00.

View Our Latest Analysis on Jazz Pharmaceuticals

Jazz Pharmaceuticals Trading Up 2.1%

NASDAQ:JAZZ traded up $2.33 during mid-day trading on Tuesday, hitting $111.13. 726,472 shares of the stock traded hands, compared to its average volume of 837,621. The stock has a market capitalization of $6.85 billion, a price-to-earnings ratio of 15.65, a PEG ratio of 1.04 and a beta of 0.33. Jazz Pharmaceuticals has a 52 week low of $95.49 and a 52 week high of $148.06. The firm's 50 day moving average is $108.09 and its two-hundred day moving average is $121.00. The company has a quick ratio of 3.74, a current ratio of 4.26 and a debt-to-equity ratio of 1.46.

Jazz Pharmaceuticals (NASDAQ:JAZZ - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The specialty pharmaceutical company reported $1.68 EPS for the quarter, missing the consensus estimate of $4.65 by ($2.97). The firm had revenue of $897.84 million for the quarter, compared to the consensus estimate of $984.16 million. Jazz Pharmaceuticals had a net margin of 11.60% and a return on equity of 29.30%. The business's revenue for the quarter was down .5% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.68 earnings per share. On average, equities research analysts predict that Jazz Pharmaceuticals will post 16.96 earnings per share for the current year.

Insider Buying and Selling at Jazz Pharmaceuticals

In other Jazz Pharmaceuticals news, Director Seamus Mulligan purchased 100,000 shares of the stock in a transaction dated Friday, May 9th. The stock was purchased at an average price of $98.26 per share, with a total value of $9,826,000.00. Following the transaction, the director now owns 100,000 shares of the company's stock, valued at approximately $9,826,000. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Patricia Carr sold 1,140 shares of the company's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $137.81, for a total transaction of $157,103.40. Following the completion of the sale, the chief accounting officer now directly owns 7,012 shares of the company's stock, valued at $966,323.72. The trade was a 13.98% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 6,543 shares of company stock valued at $845,628 in the last three months. Company insiders own 4.20% of the company's stock.

Institutional Investors Weigh In On Jazz Pharmaceuticals

Several hedge funds have recently modified their holdings of the business. Versant Capital Management Inc raised its stake in shares of Jazz Pharmaceuticals by 9.4% during the 1st quarter. Versant Capital Management Inc now owns 1,058 shares of the specialty pharmaceutical company's stock worth $131,000 after acquiring an additional 91 shares in the last quarter. Bessemer Group Inc. raised its stake in shares of Jazz Pharmaceuticals by 0.3% during the 4th quarter. Bessemer Group Inc. now owns 26,932 shares of the specialty pharmaceutical company's stock worth $3,317,000 after acquiring an additional 92 shares in the last quarter. Kendall Capital Management raised its stake in shares of Jazz Pharmaceuticals by 1.2% during the 1st quarter. Kendall Capital Management now owns 7,964 shares of the specialty pharmaceutical company's stock worth $989,000 after acquiring an additional 95 shares in the last quarter. CIBC Asset Management Inc raised its stake in shares of Jazz Pharmaceuticals by 5.2% during the 4th quarter. CIBC Asset Management Inc now owns 1,972 shares of the specialty pharmaceutical company's stock worth $243,000 after acquiring an additional 97 shares in the last quarter. Finally, Synovus Financial Corp raised its stake in shares of Jazz Pharmaceuticals by 0.5% during the 4th quarter. Synovus Financial Corp now owns 19,206 shares of the specialty pharmaceutical company's stock worth $2,365,000 after acquiring an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 89.14% of the company's stock.

Jazz Pharmaceuticals Company Profile

(Get Free Report)

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.

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