Leerink Partners Issues Positive Forecast for Jazz Pharmaceuticals (NASDAQ:JAZZ) Stock Price

Key Points

• Leerink Partners raised its price target on Jazz Pharmaceuticals to $225 (from $215) and maintained an "outperform" rating, implying roughly a 12% upside from current levels.
• Multiple brokers have recently raised targets (Needham $235, Piper Sandler $232, Barclays $225), leaving a consensus rating of "Moderate Buy" and a consensus target price of $216.87.
• Jazz beat quarterly estimates with EPS of $6.64 (vs. $6.49) and revenue of $1.20B (vs. $1.17B), reported 8.1% YoY revenue growth, and analysts forecast about $20.65 EPS for the year while the stock trades near $201 with a ~$12.4B market cap.

Jazz Pharmaceuticals (NASDAQ:JAZZ - Get Free Report) had its price objective lifted by Leerink Partners from $215.00 to $225.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has an "outperform" rating on the specialty pharmaceutical company's stock. Leerink Partners' price target indicates a potential upside of 12.00% from the company's current price.

JAZZ has been the subject of several other reports. TD Cowen restated a "buy" rating on shares of Jazz Pharmaceuticals in a research note on Thursday, January 29th. Royal Bank Of Canada raised their target price on Jazz Pharmaceuticals from $191.00 to $195.00 and gave the company an "outperform" rating in a research note on Wednesday, February 25th. Barclays raised their target price on Jazz Pharmaceuticals from $224.00 to $225.00 and gave the company an "overweight" rating in a research note on Monday. Piper Sandler raised their target price on Jazz Pharmaceuticals from $219.00 to $232.00 and gave the company an "overweight" rating in a research note on Thursday, March 19th. Finally, Needham & Company LLC raised their target price on Jazz Pharmaceuticals from $210.00 to $235.00 and gave the company a "buy" rating in a research note on Monday, January 12th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, two have assigned a Hold rating and one has issued 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 $216.87.

Jazz Pharmaceuticals Stock Up 0.9%

NASDAQ JAZZ traded up $1.87 during trading hours on Wednesday, hitting $200.90. The company had a trading volume of 67,039 shares, compared to its average volume of 1,007,078. Jazz Pharmaceuticals has a fifty-two week low of $97.50 and a fifty-two week high of $207.48. The company has a market capitalization of $12.37 billion, a price-to-earnings ratio of -33.61, a P/E/G ratio of 0.35 and a beta of 0.23. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.86 and a quick ratio of 1.67. The firm's 50 day moving average is $184.94 and its 200 day moving average is $167.93.

Jazz Pharmaceuticals (NASDAQ:JAZZ - Get Free Report) last announced its quarterly earnings results on Wednesday, February 25th. The specialty pharmaceutical company reported $6.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.49 by $0.15. The firm had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.17 billion. Jazz Pharmaceuticals had a positive return on equity of 6.87% and a negative net margin of 8.35%.The firm's quarterly revenue was up 8.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $6.51 EPS. Sell-side analysts anticipate that Jazz Pharmaceuticals will post 20.65 earnings per share for the current fiscal year.

Insider Buying and Selling at Jazz Pharmaceuticals

In other news, Director Bruce C. Cozadd sold 6,000 shares of the stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $190.50, for a total transaction of $1,143,000.00. Following the transaction, the director owned 384,682 shares of the company's stock, valued at approximately $73,281,921. This trade represents a 1.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Patricia Carr sold 1,287 shares of the stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $182.94, for a total transaction of $235,443.78. Following the transaction, the chief accounting officer directly owned 6,512 shares in the company, valued at $1,191,305.28. The trade was a 16.50% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 74,015 shares of company stock valued at $14,180,486. Corporate insiders own 4.30% of the company's stock.

Hedge Funds Weigh In On Jazz Pharmaceuticals

Several large investors have recently modified their holdings of the stock. Royal Bank of Canada lifted its holdings in Jazz Pharmaceuticals by 96.5% in the first quarter. Royal Bank of Canada now owns 67,614 shares of the specialty pharmaceutical company's stock worth $8,394,000 after acquiring an additional 33,210 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in Jazz Pharmaceuticals by 147.7% in the first quarter. Goldman Sachs Group Inc. now owns 351,609 shares of the specialty pharmaceutical company's stock worth $43,652,000 after acquiring an additional 209,667 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Jazz Pharmaceuticals by 4.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 197,174 shares of the specialty pharmaceutical company's stock worth $24,479,000 after acquiring an additional 7,954 shares during the last quarter. Focus Partners Wealth lifted its holdings in Jazz Pharmaceuticals by 3.4% in the first quarter. Focus Partners Wealth now owns 4,623 shares of the specialty pharmaceutical company's stock worth $574,000 after acquiring an additional 154 shares during the last quarter. Finally, Geneos Wealth Management Inc. lifted its holdings in Jazz Pharmaceuticals by 57.6% in the first quarter. Geneos Wealth Management Inc. now owns 375 shares of the specialty pharmaceutical company's stock worth $47,000 after acquiring an additional 137 shares during the last quarter. Institutional investors 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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