Jazz Pharmaceuticals (NASDAQ:JAZZ) Given Buy Rating at Needham & Company LLC

Jazz Pharmaceuticals (NASDAQ:JAZZ - Get Free Report)'s stock had its "buy" rating reaffirmed by investment analysts at Needham & Company LLC in a report issued on Tuesday,Benzinga reports. They presently have a $202.00 price target on the specialty pharmaceutical company's stock. Needham & Company LLC's price objective suggests a potential upside of 84.56% from the company's current price.

A number of other research analysts have also weighed in on the company. Morgan Stanley dropped their target price on Jazz Pharmaceuticals from $183.00 to $166.00 and set an "overweight" rating on the stock in a report on Wednesday, May 7th. Cantor Fitzgerald downgraded shares of Jazz Pharmaceuticals from an "overweight" rating to a "neutral" rating and lifted their price objective for the stock from $140.00 to $150.00 in a report on Wednesday, February 26th. Royal Bank of Canada lowered their target price on shares of Jazz Pharmaceuticals from $182.00 to $172.00 and set an "outperform" rating for the company in a report on Wednesday, May 7th. UBS Group raised shares of Jazz Pharmaceuticals from a "neutral" rating to a "buy" rating and raised their price target for the company from $145.00 to $179.00 in a research report on Friday, March 7th. Finally, Robert W. Baird reduced their price objective on shares of Jazz Pharmaceuticals from $167.00 to $155.00 and set an "outperform" rating for the company in a research report on Wednesday, May 7th. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to MarketBeat, Jazz Pharmaceuticals presently has a consensus rating of "Moderate Buy" and an average price target of $182.93.

Jazz Pharmaceuticals Stock Down 0.8%

JAZZ stock traded down $0.87 during midday trading on Tuesday, reaching $109.45. 532,976 shares of the company's stock traded hands, compared to its average volume of 838,631. Jazz Pharmaceuticals has a 52 week low of $95.49 and a 52 week high of $148.06. The company has a market cap of $6.75 billion, a price-to-earnings ratio of 15.42, a P/E/G ratio of 1.04 and a beta of 0.38. The firm's fifty day moving average price is $108.68 and its 200-day moving average price is $121.10. 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 posted its 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). Jazz Pharmaceuticals had a return on equity of 29.30% and a net margin of 11.60%. The business had revenue of $897.84 million for the quarter, compared to the consensus estimate of $984.16 million. During the same period in the previous year, the firm earned $2.68 earnings per share. The company's revenue was down .5% on a year-over-year basis. As a group, sell-side analysts forecast that Jazz Pharmaceuticals will post 16.96 earnings per share for the current fiscal year.

Insider Activity at Jazz Pharmaceuticals

In other news, CEO Bruce C. Cozadd sold 500 shares of the business's stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $107.90, for a total value of $53,950.00. Following the sale, the chief executive officer now owns 438,473 shares of the company's stock, valued at $47,311,236.70. The trade was a 0.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Seamus Mulligan acquired 1,621 shares of Jazz Pharmaceuticals stock in a transaction that occurred on Monday, May 12th. The stock was acquired at an average price of $103.00 per share, with a total value of $166,963.00. Following the completion of the purchase, the director now directly owns 101,621 shares in the company, valued at $10,466,963. This represents a 1.62% increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have sold 13,623 shares of company stock worth $1,826,916. Company insiders own 4.20% of the company's stock.

Institutional Investors Weigh In On Jazz Pharmaceuticals

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Versant Capital Management Inc increased its position in shares of Jazz Pharmaceuticals by 9.4% in the first quarter. Versant Capital Management Inc now owns 1,058 shares of the specialty pharmaceutical company's stock worth $131,000 after purchasing an additional 91 shares during the last quarter. Bessemer Group Inc. grew its stake in Jazz Pharmaceuticals by 0.3% in the 4th quarter. Bessemer Group Inc. now owns 26,932 shares of the specialty pharmaceutical company's stock worth $3,317,000 after buying an additional 92 shares in the last quarter. Kendall Capital Management increased its holdings in shares of Jazz Pharmaceuticals by 1.2% in the 1st quarter. Kendall Capital Management now owns 7,964 shares of the specialty pharmaceutical company's stock worth $989,000 after buying an additional 95 shares during the last quarter. CIBC Asset Management Inc raised its position 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 valued at $243,000 after buying an additional 97 shares in the last quarter. Finally, Synovus Financial Corp lifted its holdings 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 during the last quarter. 89.14% of the stock is currently owned by institutional investors.

Jazz Pharmaceuticals Company Profile

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.