Jazz Pharmaceuticals (NASDAQ:JAZZ) Stock Rating Upgraded by Canaccord Genuity Group

Key Points

• Canaccord Genuity Group upgraded Jazz Pharmaceuticals to a “strong-buy” rating, adding to a generally bullish Wall Street view of the stock.
• Several other firms also raised their outlooks or price targets, and the stock now carries a consensus “Moderate Buy” rating with an average price target of $256.44.
• Jazz Pharmaceuticals was trading up about 2.2% at $247.53, near its 52-week high, while the company also reported recent quarterly EPS of $6.34 and revenue of $1.07 billion.

Jazz Pharmaceuticals (NASDAQ:JAZZ - Get Free Report) was upgraded by Canaccord Genuity Group to a "strong-buy" rating in a research report issued to clients and investors on Thursday,Zacks.com reports.

A number of other brokerages have also commented on JAZZ. Deutsche Bank Aktiengesellschaft lifted their price target on Jazz Pharmaceuticals from $250.00 to $270.00 and gave the stock a "buy" rating in a report on Thursday, July 9th. Piper Sandler upped their price objective on Jazz Pharmaceuticals from $232.00 to $301.00 and gave the company an "overweight" rating in a research note on Friday, May 22nd. Robert W. Baird set a $252.00 target price on Jazz Pharmaceuticals in a research report on Wednesday, May 6th. Raymond James Financial reaffirmed an "outperform" rating and set a $239.00 target price on shares of Jazz Pharmaceuticals in a research report on Wednesday, May 6th. Finally, Morgan Stanley reiterated an "overweight" rating and set a $245.00 target price on shares of Jazz Pharmaceuticals in a research note on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $256.44.

Jazz Pharmaceuticals Trading Up 2.2%

NASDAQ:JAZZ opened at $247.53 on Thursday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.85 and a current ratio of 2.04. The firm has a market cap of $15.55 billion, a price-to-earnings ratio of -12,370.31, a price-to-earnings-growth ratio of 0.21 and a beta of 0.32. Jazz Pharmaceuticals has a 52 week low of $105.00 and a 52 week high of $250.49. The firm has a 50-day moving average price of $235.11 and a two-hundred day moving average price of $200.42.

Jazz Pharmaceuticals (NASDAQ:JAZZ - Get Free Report) last posted its earnings results on Tuesday, March 31st. The specialty pharmaceutical company reported $6.34 EPS for the quarter. Jazz Pharmaceuticals had a net margin of 0.66% and a return on equity of 14.56%. The firm had revenue of $1.07 billion for the quarter. On average, equities analysts expect that Jazz Pharmaceuticals will post 21.9 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Jazz Pharmaceuticals news, Director Bruce C. Cozadd sold 6,000 shares of the stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $240.47, for a total transaction of $1,442,820.00. Following the completion of the transaction, the director directly owned 366,682 shares of the company's stock, valued at approximately $88,176,020.54. This represents a 1.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Neena M. Patil sold 1,200 shares of the firm's stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $231.83, for a total value of $278,196.00. Following the completion of the sale, the executive vice president directly owned 51,549 shares of the company's stock, valued at $11,950,604.67. This represents a 2.27% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 13,098 shares of company stock valued at $3,131,906 in the last quarter. 4.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Jazz Pharmaceuticals

Large investors have recently added to or reduced their stakes in the company. Cardinal Capital Management raised its holdings 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 worth $2,471,000 after purchasing an additional 66 shares in the last quarter. Bessemer Group Inc. boosted its holdings in shares of Jazz Pharmaceuticals by 0.3% in the 1st quarter. Bessemer Group Inc. now owns 22,362 shares of the specialty pharmaceutical company's stock valued at $4,228,000 after buying an additional 73 shares in the last quarter. UMB Bank n.a. boosted its holdings in shares of Jazz Pharmaceuticals by 12.6% in the 4th quarter. UMB Bank n.a. now owns 725 shares of the specialty pharmaceutical company's stock valued at $123,000 after buying an additional 81 shares in the last quarter. Pinnacle Associates Ltd. grew its position in shares of Jazz Pharmaceuticals by 0.7% in the 4th quarter. Pinnacle Associates Ltd. now owns 11,203 shares of the specialty pharmaceutical company's stock worth $1,905,000 after buying an additional 83 shares during the last quarter. Finally, Fifth Third Wealth Advisors LLC grew its position in shares of Jazz Pharmaceuticals by 4.4% in the 1st quarter. Fifth Third Wealth Advisors LLC now owns 1,996 shares of the specialty pharmaceutical company's stock worth $377,000 after buying an additional 85 shares during the last quarter. Hedge funds and other institutional investors 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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