Needham & Company LLC Reiterates "Buy" Rating for Jazz Pharmaceuticals (NASDAQ:JAZZ)

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

A number of other analysts have also weighed in on JAZZ. Wells Fargo & Company upgraded Jazz Pharmaceuticals from an "equal weight" rating to an "overweight" rating and increased their target price for the stock from $130.00 to $170.00 in a research note on Thursday, February 13th. Royal Bank of Canada reduced their target price on shares of Jazz Pharmaceuticals from $182.00 to $172.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 7th. Wall Street Zen lowered Jazz Pharmaceuticals from a "buy" rating to a "hold" rating in a report on Thursday, May 15th. Truist Financial increased their price objective on Jazz Pharmaceuticals from $220.00 to $230.00 and gave the stock a "buy" rating in a research note on Thursday, March 6th. Finally, Barclays reaffirmed an "overweight" rating and set a $200.00 target price (up from $190.00) on shares of Jazz Pharmaceuticals in a research report on Thursday, February 27th. Two investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $184.00.

Jazz Pharmaceuticals Trading Down 0.5%

Shares of Jazz Pharmaceuticals stock traded down $0.54 during trading on Wednesday, hitting $109.96. The stock had a trading volume of 346,313 shares, compared to its average volume of 1,051,719. The stock has a market cap of $6.78 billion, a PE ratio of 15.49, a PEG 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. The firm's fifty day simple moving average is $107.66 and its 200-day simple moving average is $120.75. The company has a debt-to-equity ratio of 1.46, a current ratio of 4.26 and a quick ratio of 3.74.

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

Insider Activity

In related news, CEO Bruce C. Cozadd sold 1,500 shares of Jazz Pharmaceuticals stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $123.75, for a total value of $185,625.00. Following the completion of the sale, the chief executive officer now directly owns 440,307 shares in the company, valued at $54,487,991.25. This trade represents a 0.34% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Seamus Mulligan bought 100,000 shares of the company's stock in a transaction on Friday, May 9th. The shares were bought at an average cost of $98.26 per share, for a total transaction of $9,826,000.00. Following the transaction, the director now owns 100,000 shares in the company, valued at $9,826,000. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 3,000 shares of company stock worth $355,925. Corporate insiders own 4.20% of the company's stock.

Institutional Investors Weigh In On Jazz Pharmaceuticals

Several institutional investors and hedge funds have recently made changes to their positions in JAZZ. Fuller & Thaler Asset Management Inc. lifted its position in Jazz Pharmaceuticals by 117.4% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 939,351 shares of the specialty pharmaceutical company's stock worth $115,681,000 after acquiring an additional 507,234 shares during the period. Nuveen LLC purchased a new stake in Jazz Pharmaceuticals in the first quarter valued at approximately $62,362,000. Darwin Global Management Ltd. acquired a new position in Jazz Pharmaceuticals in the 4th quarter worth approximately $59,668,000. Perpetual Ltd raised its position in Jazz Pharmaceuticals by 60.2% during the 1st quarter. Perpetual Ltd now owns 952,172 shares of the specialty pharmaceutical company's stock worth $118,212,000 after buying an additional 357,784 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Jazz Pharmaceuticals by 18.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,035,070 shares of the specialty pharmaceutical company's stock valued at $250,619,000 after acquiring an additional 320,724 shares during the period. 89.14% of the stock is currently owned by institutional investors and hedge funds.

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.