Jazz Pharmaceuticals (NASDAQ:JAZZ) Hits New 52-Week High - Here's What Happened

Key Points

• Jazz Pharmaceuticals hit a new 52-week high, trading as high as $235.42 after closing at $229.55 the prior day, reflecting strong recent momentum in the stock.
• Several analysts turned more bullish on the company, led by UBS Group upgrading Jazz from neutral to buy and lifting its price target to $307. Other firms also raised targets, and the consensus rating remains Moderate Buy.
• The company recently reported Q1 EPS of $6.34 on revenue of $1.07 billion, while insider selling and heavy institutional ownership remained notable factors in the stock’s background.

Shares of Jazz Pharmaceuticals PLC (NASDAQ:JAZZ - Get Free Report) hit a new 52-week high during trading on Tuesday . The company traded as high as $235.42 and last traded at $233.5930, with a volume of 65011 shares traded. The stock had previously closed at $229.55.

Analyst Upgrades and Downgrades

JAZZ has been the subject of a number of research reports. UBS Group upgraded Jazz Pharmaceuticals from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $188.00 to $307.00 in a research report on Tuesday. Wells Fargo & Company boosted their target price on Jazz Pharmaceuticals from $250.00 to $265.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 6th. Morgan Stanley restated an "overweight" rating and set a $245.00 target price on shares of Jazz Pharmaceuticals in a research report on Thursday, May 7th. TD Cowen boosted their target price on Jazz Pharmaceuticals from $220.00 to $275.00 and gave the stock a "buy" rating in a research report on Wednesday, May 6th. Finally, Truist Financial upgraded Jazz Pharmaceuticals to a "strong-buy" rating in a research report on Wednesday, March 25th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $238.00.

Jazz Pharmaceuticals Price Performance

The company has a current ratio of 2.04, a quick ratio of 1.85 and a debt-to-equity ratio of 0.95. The firm has a market cap of $14.79 billion, a P/E ratio of -11,767.12, a PEG ratio of 0.41 and a beta of 0.27. The company has a fifty day moving average price of $198.10 and a two-hundred day moving average price of $177.42.

Jazz Pharmaceuticals (NASDAQ:JAZZ - Get Free Report) last released its earnings results on Tuesday, March 31st. The specialty pharmaceutical company reported $6.34 EPS for the quarter. The firm had revenue of $1.07 billion for the quarter. Jazz Pharmaceuticals had a return on equity of 14.56% and a net margin of 0.66%. Equities analysts anticipate that Jazz Pharmaceuticals PLC will post 20.75 earnings per share for the current year.

Insider Transactions at Jazz Pharmaceuticals

In other Jazz Pharmaceuticals news, EVP Neena M. Patil sold 55,600 shares of the business's stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $191.56, for a total value of $10,650,736.00. Following the sale, the executive vice president owned 56,862 shares in the company, valued at approximately $10,892,484.72. The trade was a 49.44% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Mary Elizabeth Henderson sold 5,343 shares of the business's stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $194.49, for a total value of $1,039,160.07. Following the completion of the sale, the senior vice president owned 28,728 shares in the company, valued at $5,587,308.72. The trade was a 15.68% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 74,015 shares of company stock worth $14,180,486. Corporate insiders own 4.30% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Cardinal Capital Management increased its position in shares of Jazz Pharmaceuticals by 0.5% during the 4th quarter. Cardinal Capital Management now owns 14,538 shares of the specialty pharmaceutical company's stock worth $2,471,000 after purchasing an additional 66 shares during the last quarter. Bessemer Group Inc. increased its position in shares of Jazz Pharmaceuticals by 0.3% during the 1st quarter. Bessemer Group Inc. now owns 22,362 shares of the specialty pharmaceutical company's stock worth $4,228,000 after purchasing an additional 73 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in shares of Jazz Pharmaceuticals by 9.0% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 983 shares of the specialty pharmaceutical company's stock worth $130,000 after purchasing an additional 81 shares during the last quarter. UMB Bank n.a. increased its position in shares of Jazz Pharmaceuticals by 12.6% during the 4th quarter. UMB Bank n.a. now owns 725 shares of the specialty pharmaceutical company's stock worth $123,000 after purchasing an additional 81 shares during the last quarter. Finally, Pinnacle Associates Ltd. increased its position in shares of Jazz Pharmaceuticals by 0.7% during the 4th quarter. Pinnacle Associates Ltd. now owns 11,203 shares of the specialty pharmaceutical company's stock worth $1,905,000 after purchasing an additional 83 shares during the last quarter. Institutional investors and hedge funds own 89.14% of the company's stock.

Jazz Pharmaceuticals Company Profile

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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