Jazz Pharmaceuticals (NASDAQ:JAZZ) Hits New 1-Year High - Here's Why

Key Points

• Jazz Pharmaceuticals hit a new 52-week high of $207.48 mid-day, and the stock carries a consensus "Moderate Buy" rating with an average price target of $216.29 as several analysts raised targets into the $226–$250 range.
• The company beat quarterly estimates, reporting EPS of $6.64 versus $6.49 expected and revenue of $1.20B versus $1.17B, with revenue up 8.1% year-over-year; analysts project about 20.65 EPS for the current year.
• Insiders sold 74,015 shares worth roughly $14.18M over the last three months (insiders still own 4.30%); institutional investors hold about 89.14% of the stock.

Jazz Pharmaceuticals PLC (NASDAQ:JAZZ - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $207.48 and last traded at $202.56, with a volume of 777836 shares. The stock had previously closed at $203.42.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on JAZZ shares. Morgan Stanley lifted their target price on Jazz Pharmaceuticals from $225.00 to $226.00 and gave the stock an "overweight" rating in a report on Wednesday, February 25th. Wells Fargo & Company lifted their target price on Jazz Pharmaceuticals from $235.00 to $250.00 and gave the stock an "overweight" rating in a report on Wednesday, February 25th. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Jazz Pharmaceuticals in a report on Friday, March 27th. Piper Sandler lifted their target price on Jazz Pharmaceuticals from $219.00 to $232.00 and gave the stock an "overweight" rating in a report on Thursday, March 19th. Finally, Raymond James Financial started coverage on Jazz Pharmaceuticals in a report on Friday, April 10th. They set an "outperform" rating and a $227.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $216.29.

Jazz Pharmaceuticals Price Performance

The company has a current ratio of 1.86, a quick ratio of 1.67 and a debt-to-equity ratio of 1.00. The firm has a market cap of $12.47 billion, a price-to-earnings ratio of -33.93, a price-to-earnings-growth ratio of 0.35 and a beta of 0.23. The stock has a 50-day moving average of $184.27 and a two-hundred day moving average of $167.51.

Jazz Pharmaceuticals (NASDAQ:JAZZ - Get Free Report) last released its quarterly earnings results on Wednesday, February 25th. The specialty pharmaceutical company reported $6.64 earnings per share for the quarter, beating analysts' consensus estimates of $6.49 by $0.15. Jazz Pharmaceuticals had a positive return on equity of 6.87% and a negative net margin of 8.35%.The business had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.17 billion. During the same quarter last year, the company posted $6.51 EPS. Jazz Pharmaceuticals's revenue for the quarter was up 8.1% on a year-over-year basis. On average, analysts anticipate that Jazz Pharmaceuticals PLC will post 20.65 EPS for the current year.

Insiders Place Their Bets

In related news, Director Bruce C. Cozadd sold 6,000 shares of the stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $190.50, for a total value of $1,143,000.00. Following the completion of the transaction, the director owned 384,682 shares in the company, valued at $73,281,921. This trade represents a 1.54% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Norbert G. Riedel sold 3,415 shares of the stock in a transaction on Friday, February 27th. The shares were sold at an average price of $192.00, for a total value of $655,680.00. Following the completion of the transaction, the director owned 7,024 shares of the company's stock, valued at $1,348,608. This trade represents a 32.71% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 74,015 shares of company stock worth $14,180,486 over the last three months. Company insiders own 4.30% of the company's stock.

Hedge Funds Weigh In On Jazz Pharmaceuticals

Hedge funds and other institutional investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP boosted its position in Jazz Pharmaceuticals by 11.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,836,652 shares of the specialty pharmaceutical company's stock worth $373,855,000 after acquiring an additional 298,815 shares during the period. Essex Investment Management Co. LLC acquired a new stake in Jazz Pharmaceuticals during the 3rd quarter worth about $2,697,000. Sequoia Financial Advisors LLC acquired a new stake in Jazz Pharmaceuticals during the 3rd quarter worth about $605,000. JPMorgan Chase & Co. boosted its position in Jazz Pharmaceuticals by 8.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,867,159 shares of the specialty pharmaceutical company's stock worth $246,092,000 after acquiring an additional 145,865 shares during the period. Finally, Faithward Advisors LLC boosted its position in Jazz Pharmaceuticals by 93.4% during the 3rd quarter. Faithward Advisors LLC now owns 27,904 shares of the specialty pharmaceutical company's stock worth $3,678,000 after acquiring an additional 13,475 shares during the period. Institutional investors and hedge funds own 89.14% of the company's stock.

About Jazz Pharmaceuticals

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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