Needham & Company LLC Raises Jazz Pharmaceuticals (NASDAQ:JAZZ) Price Target to $282.00

Key Points

• Needham & Company LLC raised its price target on Jazz Pharmaceuticals from $255 to $282 and maintained a buy rating, implying about 13.9% upside from the current price.
• Other analysts have also turned more positive on the stock, with recent target hikes from firms including Wells Fargo, RBC, and Leerink Partners; the overall consensus remains a Moderate Buy with an average target of $259.06.
• Jazz Pharmaceuticals reported $6.34 EPS on $1.07 billion in quarterly revenue, while institutional investors continue to hold a large stake in the company, with 89.14% of shares owned by institutions and hedge funds.

Jazz Pharmaceuticals (NASDAQ:JAZZ - Get Free Report) had its price target hoisted by equities researchers at Needham & Company LLC from $255.00 to $282.00 in a report issued on Monday,Benzinga reports. The brokerage presently has a "buy" rating on the specialty pharmaceutical company's stock. Needham & Company LLC's price objective suggests a potential upside of 13.93% from the company's current price.

JAZZ has been the topic of a number of other research reports. Leerink Partners raised their target price on shares of Jazz Pharmaceuticals from $215.00 to $225.00 and gave the company an "outperform" rating in a research note on Wednesday, April 22nd. Royal Bank Of Canada increased their price target on Jazz Pharmaceuticals from $195.00 to $258.00 and gave the company an "outperform" rating in a report on Wednesday, May 6th. Robert W. Baird set a $252.00 price objective on Jazz Pharmaceuticals in a research report on Wednesday, May 6th. Weiss Ratings upgraded Jazz Pharmaceuticals from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Monday, June 29th. Finally, Wells Fargo & Company boosted their price objective on Jazz Pharmaceuticals from $265.00 to $285.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 14th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, Jazz Pharmaceuticals has a consensus rating of "Moderate Buy" and an average price target of $259.06.

Jazz Pharmaceuticals Price Performance

JAZZ opened at $247.53 on Monday. The firm has a 50 day moving average price of $235.11 and a 200 day moving average price of $200.63. The company has a market cap of $15.55 billion, a PE ratio of -12,370.31, a price-to-earnings-growth ratio of 0.22 and a beta of 0.32. Jazz Pharmaceuticals has a 1 year low of $105.00 and a 1 year high of $250.49. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.85 and a current ratio of 2.04.

Jazz Pharmaceuticals (NASDAQ:JAZZ - Get Free Report) last posted its quarterly 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. Sell-side analysts expect that Jazz Pharmaceuticals will post 21.9 earnings per share for the current year.

Insider Buying and Selling at Jazz Pharmaceuticals

In other news, Director Heather Ann Mcsharry sold 2,000 shares of the company's stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $241.00, for a total value of $482,000.00. Following the completion of the transaction, the director directly owned 18,449 shares in the company, valued at approximately $4,446,209. This represents a 9.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Bruce C. Cozadd sold 6,000 shares of the firm's stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $240.47, for a total transaction of $1,442,820.00. Following the sale, the director directly owned 366,682 shares of the company's stock, valued at approximately $88,176,020.54. The trade was a 1.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 13,098 shares of company stock valued at $3,131,906. 4.10% of the stock is owned by company insiders.

Institutional Trading of Jazz Pharmaceuticals

Large investors have recently modified their holdings of the business. Capital World Investors boosted its holdings in Jazz Pharmaceuticals by 4.4% in the fourth quarter. Capital World Investors now owns 2,666,602 shares of the specialty pharmaceutical company's stock valued at $453,322,000 after purchasing an additional 111,735 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in Jazz Pharmaceuticals by 11.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,867,399 shares of the specialty pharmaceutical company's stock worth $198,159,000 after purchasing an additional 191,637 shares during the last quarter. Franklin Resources Inc. raised its position in shares of Jazz Pharmaceuticals by 164.0% in the 4th quarter. Franklin Resources Inc. now owns 1,818,911 shares of the specialty pharmaceutical company's stock valued at $309,215,000 after purchasing an additional 1,129,995 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of Jazz Pharmaceuticals by 44.5% during the first quarter. Bank of New York Mellon Corp now owns 1,679,371 shares of the specialty pharmaceutical company's stock worth $317,485,000 after buying an additional 517,514 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. increased its stake in shares of Jazz Pharmaceuticals by 3.1% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 1,677,132 shares of the specialty pharmaceutical company's stock worth $285,113,000 after buying an additional 50,996 shares during the last quarter. 89.14% of the stock is currently owned by institutional investors and hedge funds.

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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