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

Needham & Company LLC reaffirmed their buy rating on shares of Jazz Pharmaceuticals (NASDAQ:JAZZ - Free Report) in a report published on Wednesday morning,Benzinga reports. They currently have a $202.00 price objective on the specialty pharmaceutical company's stock.

A number of other equities research analysts have also weighed in on the company. Wells Fargo & Company upgraded Jazz Pharmaceuticals from an "equal weight" rating to an "overweight" rating and lifted their price objective for the stock from $130.00 to $170.00 in a research report on Thursday, February 13th. JPMorgan Chase & Co. lifted their price objective on Jazz Pharmaceuticals from $200.00 to $209.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 26th. Piper Sandler reaffirmed an "overweight" rating and issued a $147.00 price target (down from $176.00) on shares of Jazz Pharmaceuticals in a research note on Wednesday, May 7th. Royal Bank of Canada reduced their price target on Jazz Pharmaceuticals from $182.00 to $172.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 7th. Finally, UBS Group raised Jazz Pharmaceuticals from a "neutral" rating to a "buy" rating and upped their price target for the stock from $145.00 to $179.00 in a research note on Friday, March 7th. Two investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $184.00.

Jazz Pharmaceuticals Trading Down 1.6%

Jazz Pharmaceuticals stock traded down $1.79 during trading hours on Wednesday, reaching $108.50. The company had a trading volume of 478,127 shares, compared to its average volume of 834,460. The company has a debt-to-equity ratio of 1.46, a current ratio of 4.26 and a quick ratio of 3.74. The company has a 50-day moving average price of $107.84 and a 200 day moving average price of $120.54. The firm has a market cap of $6.69 billion, a price-to-earnings ratio of 15.28, a P/E/G ratio of 1.04 and a beta of 0.33. Jazz Pharmaceuticals has a 12-month low of $95.49 and a 12-month high of $148.06.

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

Insider Transactions at Jazz Pharmaceuticals

In other Jazz Pharmaceuticals news, Director Seamus Mulligan purchased 1,621 shares of the stock in a transaction dated Monday, May 12th. The shares were purchased at an average cost of $103.00 per share, with a total value of $166,963.00. Following the completion of the acquisition, the director now directly owns 101,621 shares in the company, valued at $10,466,963. This trade represents a 1.62% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Bruce C. Cozadd sold 500 shares of the company's stock in a transaction 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 transaction, the chief executive officer now directly owns 438,473 shares in the company, valued at approximately $47,311,236.70. The trade was a 0.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,000 shares of company stock valued at $355,925. Insiders own 4.20% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Focus Partners Wealth bought a new position in shares of Jazz Pharmaceuticals during the fourth quarter valued at $551,000. Summit Trail Advisors LLC bought a new position in Jazz Pharmaceuticals in the fourth quarter valued at about $539,000. Atria Investments Inc lifted its holdings in Jazz Pharmaceuticals by 19.5% in the fourth quarter. Atria Investments Inc now owns 2,732 shares of the specialty pharmaceutical company's stock valued at $336,000 after acquiring an additional 445 shares during the period. Harvey Capital Management Inc. bought a new position in Jazz Pharmaceuticals in the fourth quarter valued at about $3,134,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Jazz Pharmaceuticals by 15.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 615,517 shares of the specialty pharmaceutical company's stock valued at $75,801,000 after acquiring an additional 83,807 shares during the period. 89.14% of the stock is owned by institutional investors.

About Jazz Pharmaceuticals

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.