Morgan Stanley Cuts Jazz Pharmaceuticals (NASDAQ:JAZZ) Price Target to $165.00

Jazz Pharmaceuticals (NASDAQ:JAZZ - Get Free Report) had its price objective decreased by analysts at Morgan Stanley from $166.00 to $165.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an "overweight" rating on the specialty pharmaceutical company's stock. Morgan Stanley's target price would suggest a potential upside of 39.82% from the stock's current price.

Other equities analysts have also issued reports about the company. Deutsche Bank Aktiengesellschaft initiated coverage on Jazz Pharmaceuticals in a report on Tuesday, July 15th. They set a "buy" rating and a $152.00 target price for the company. Royal Bank Of Canada reduced their price objective on Jazz Pharmaceuticals from $182.00 to $172.00 and set an "outperform" rating for the company in a research report on Wednesday, May 7th. Robert W. Baird reduced their price objective on Jazz Pharmaceuticals from $167.00 to $155.00 and set an "outperform" rating for the company in a research report on Wednesday, May 7th. Piper Sandler reiterated an "overweight" rating and set a $147.00 price objective (down from $176.00) on shares of Jazz Pharmaceuticals in a research report on Wednesday, May 7th. Finally, Wall Street Zen downgraded Jazz Pharmaceuticals from a "buy" rating to a "hold" rating in a research report on Thursday, May 15th. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Jazz Pharmaceuticals presently has an average rating of "Moderate Buy" and a consensus target price of $181.64.

Jazz Pharmaceuticals Trading Up 0.6%

Jazz Pharmaceuticals stock traded up $0.67 during midday trading on Tuesday, reaching $118.01. The stock had a trading volume of 513,992 shares, compared to its average volume of 976,164. Jazz Pharmaceuticals has a twelve month low of $95.49 and a twelve month high of $148.06. The stock has a market capitalization of $7.14 billion, a PE ratio of 15.73, a price-to-earnings-growth ratio of 5.60 and a beta of 0.32. The company has a debt-to-equity ratio of 1.28, a quick ratio of 2.97 and a current ratio of 3.38. The stock's 50-day simple moving average is $109.79 and its 200 day simple moving average is $118.13.

Jazz Pharmaceuticals (NASDAQ:JAZZ - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The specialty pharmaceutical company reported $1.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.65 by ($2.97). Jazz Pharmaceuticals had a net margin of 11.86% and a return on equity of 26.62%. The firm had revenue of $897.84 million for the quarter, compared to analyst estimates of $984.16 million. During the same quarter in the previous year, the company earned $2.68 EPS. The company's quarterly revenue was down .5% compared to the same quarter last year. Analysts expect that Jazz Pharmaceuticals will post 16.96 EPS for the current year.

Insiders Place Their Bets

In other Jazz Pharmaceuticals news, CEO Bruce C. Cozadd sold 1,000 shares of the business's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $107.63, for a total transaction of $107,630.00. Following the sale, the chief executive officer directly owned 436,973 shares of the company's stock, valued at $47,031,403.99. The trade was a 0.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Seamus Mulligan bought 1,621 shares of the business's stock in a transaction on Monday, May 12th. The shares were purchased at an average cost of $103.00 per share, for a total transaction of $166,963.00. Following the completion of the purchase, the director owned 101,621 shares in the company, valued at approximately $10,466,963. This trade represents a 1.62% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold a total of 2,500 shares of company stock valued at $277,930 in the last quarter. Insiders own 4.30% of the company's stock.

Hedge Funds Weigh In On Jazz Pharmaceuticals

Hedge funds have recently modified their holdings of the stock. Hurley Capital LLC acquired a new position in shares of Jazz Pharmaceuticals in the first quarter worth $25,000. Quadrant Capital Group LLC increased its stake in shares of Jazz Pharmaceuticals by 97.1% in the fourth quarter. Quadrant Capital Group LLC now owns 205 shares of the specialty pharmaceutical company's stock worth $25,000 after acquiring an additional 101 shares during the last quarter. Elequin Capital LP increased its stake in shares of Jazz Pharmaceuticals by 677.8% in the fourth quarter. Elequin Capital LP now owns 210 shares of the specialty pharmaceutical company's stock worth $26,000 after acquiring an additional 183 shares during the last quarter. CoreFirst Bank & Trust acquired a new position in shares of Jazz Pharmaceuticals in the fourth quarter worth $28,000. Finally, Allianz SE acquired a new position in shares of Jazz Pharmaceuticals in the fourth quarter worth $29,000. 89.14% of the stock is owned by institutional investors and hedge funds.

Jazz Pharmaceuticals Company Profile

Jazz Pharmaceuticals plc identifies, develops, and commercializes pharmaceutical products for unmet medical needs in the United States, Europe, and internationally. The company offers Xywav for cataplexy or excessive daytime sleepiness (EDS) with narcolepsy and idiopathic hypersomnia; Xyrem to treat cataplexy or EDS with narcolepsy; Epidiolex for seizures associated with Lennox-Gastaut and Dravet syndromes, or tuberous sclerosis complex; Zepzelca to treat metastatic small cell lung cancer, or with disease progression on or after platinum-based chemotherapy; Rylaze for acute lymphoblastic leukemia or lymphoblastic lymphoma; Enrylaze to treat acute lymphoblastic leukemia and lymphoblastic lymphoma; Defitelio to treat severe hepatic veno-occlusive disease; and Vyxeos for newly-diagnosed therapy-related acute myeloid leukemia.