Jazz Pharmaceuticals (NASDAQ:JAZZ) Sets New 1-Year High - Time to Buy?

Key Points

• 52-week high: Jazz Pharmaceuticals reached a new 52-week high of $201.09 and was trading up roughly 2.9%, while analysts have raised price targets—consensus rating is "Moderate Buy" with an average target of $216.21.
• Quarterly beat: The company reported EPS of $6.64 (vs. $6.49 est.) and revenue of $1.20B, up 8.1% year-over-year, underpinning analyst expectations for about 16.96 EPS this year.
• Mixed fundamentals and insider activity: Jazz has a $12.38B market cap but a negative P/E (-33.68) and net margin (-8.35%), and insiders sold roughly $14.2M of shares in the last 90 days while institutional investors own about 89% of the stock.

Jazz Pharmaceuticals PLC (NASDAQ:JAZZ - Get Free Report) hit a new 52-week high during trading on Wednesday . The company traded as high as $201.09 and last traded at $201.06, with a volume of 970577 shares changing hands. The stock had previously closed at $195.31.

Analysts Set New Price Targets

A number of research analysts have commented on JAZZ shares. Barclays reaffirmed an "overweight" rating and issued a $224.00 price objective on shares of Jazz Pharmaceuticals in a report on Monday, March 9th. Wells Fargo & Company upped their price objective on Jazz Pharmaceuticals from $235.00 to $250.00 and gave the company an "overweight" rating in a report on Wednesday, February 25th. Morgan Stanley upped their price objective on Jazz Pharmaceuticals from $225.00 to $226.00 and gave the company an "overweight" rating in a report on Wednesday, February 25th. Piper Sandler upped their price objective on Jazz Pharmaceuticals from $219.00 to $232.00 and gave the company an "overweight" rating in a report on Thursday, March 19th. Finally, Raymond James Financial assumed coverage on Jazz Pharmaceuticals in a report on Friday. They issued an "outperform" rating and a $227.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Jazz Pharmaceuticals has a consensus rating of "Moderate Buy" and an average target price of $216.21.

Jazz Pharmaceuticals Trading Up 2.9%

The company has a market capitalization of $12.38 billion, a price-to-earnings ratio of -33.68, a price-to-earnings-growth ratio of 0.34 and a beta of 0.23. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.67 and a current ratio of 1.86. The firm has a fifty day moving average price of $181.40 and a 200-day moving average price of $165.62.

Jazz Pharmaceuticals (NASDAQ:JAZZ - Get Free Report) last released its earnings results on Wednesday, February 25th. The specialty pharmaceutical company reported $6.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.49 by $0.15. The company had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.17 billion. Jazz Pharmaceuticals had a positive return on equity of 6.87% and a negative net margin of 8.35%.Jazz Pharmaceuticals's quarterly revenue was up 8.1% on a year-over-year basis. During the same period in the prior year, the firm posted $6.51 EPS. As a group, equities analysts anticipate that Jazz Pharmaceuticals PLC will post 16.96 EPS for the current year.

Insiders Place Their Bets

In related news, Director Norbert G. Riedel sold 3,415 shares of the firm's stock in a transaction dated Friday, February 27th. The stock was sold at an average price of $192.00, for a total value of $655,680.00. Following the sale, the director directly owned 7,024 shares of the company's stock, valued at $1,348,608. This trade represents a 32.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Neena M. Patil sold 55,600 shares of the firm's stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $191.56, for a total value of $10,650,736.00. Following the completion of the sale, the executive vice president directly owned 56,862 shares in the company, valued at $10,892,484.72. This trade represents a 49.44% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 74,015 shares of company stock valued at $14,180,486 over the last ninety days. 4.30% of the stock is owned by insiders.

Institutional Trading of Jazz Pharmaceuticals

Several large investors have recently bought and sold shares of the business. Cardinal Capital Management boosted its stake in Jazz Pharmaceuticals by 0.5% in the fourth quarter. Cardinal Capital Management now owns 14,538 shares of the specialty pharmaceutical company's stock valued at $2,471,000 after buying an additional 66 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of Jazz Pharmaceuticals by 9.0% during the third quarter. EverSource Wealth Advisors LLC now owns 983 shares of the specialty pharmaceutical company's stock valued at $130,000 after purchasing an additional 81 shares in the last quarter. UMB Bank n.a. boosted its stake in shares of Jazz Pharmaceuticals by 12.6% during the fourth quarter. UMB Bank n.a. now owns 725 shares of the specialty pharmaceutical company's stock valued at $123,000 after purchasing an additional 81 shares in the last quarter. Tectonic Advisors LLC boosted its stake in shares of Jazz Pharmaceuticals by 1.5% during the third quarter. Tectonic Advisors LLC now owns 5,626 shares of the specialty pharmaceutical company's stock valued at $742,000 after purchasing an additional 82 shares in the last quarter. Finally, Pinnacle Associates Ltd. boosted its stake in shares of Jazz Pharmaceuticals by 0.7% during the fourth quarter. Pinnacle Associates Ltd. now owns 11,203 shares of the specialty pharmaceutical company's stock valued at $1,905,000 after purchasing an additional 83 shares in the last quarter. 89.14% of the stock is owned by institutional investors and hedge funds.

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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