Sanford C. Bernstein Upgrades Jazz Pharmaceuticals (NASDAQ:JAZZ) to Hold

Key Points

• Sanford C. Bernstein upgraded Jazz Pharmaceuticals to “Hold” in a Thursday report, while the broader analyst community remains mostly positive with an overall Moderate Buy consensus and an average price target of $241.53.
• Several other firms recently raised their views and targets on JAZZ, including Piper Sandler, TD Cowen, Bank of America, and Truist Financial, reflecting improving sentiment around the stock.
• Jazz Pharmaceuticals shares were trading near their 52-week high at $239.83, and the company recently reported quarterly EPS of $6.34 on revenue of $1.07 billion.

Jazz Pharmaceuticals (NASDAQ:JAZZ - Get Free Report) was upgraded by research analysts at Sanford C. Bernstein to a "hold" rating in a report issued on Thursday,Zacks.com reports.

A number of other brokerages also recently weighed in on JAZZ. Piper Sandler lifted their target price on shares of Jazz Pharmaceuticals from $232.00 to $301.00 and gave the stock an "overweight" rating in a research note on Friday. Robert W. Baird set a $252.00 price target on shares of Jazz Pharmaceuticals in a research note on Wednesday, May 6th. TD Cowen lifted their price target on shares of Jazz Pharmaceuticals from $220.00 to $275.00 and gave the company a "buy" rating in a research note on Wednesday, May 6th. Bank of America lifted their price target on shares of Jazz Pharmaceuticals from $263.00 to $275.00 and gave the company a "buy" rating in a research note on Wednesday, February 25th. Finally, Truist Financial raised shares of Jazz Pharmaceuticals to a "strong-buy" rating in a research note on Wednesday, March 25th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $241.53.

Jazz Pharmaceuticals Price Performance

Shares of NASDAQ JAZZ opened at $239.83 on Thursday. Jazz Pharmaceuticals has a twelve month low of $105.00 and a twelve month high of $243.32. The firm has a fifty day simple moving average of $202.44 and a 200 day simple moving average of $179.99. The company has a market capitalization of $15.05 billion, a PE ratio of -11,985.51, a P/E/G ratio of 0.43 and a beta of 0.27. The company has a quick ratio of 1.85, a current ratio of 2.04 and a debt-to-equity ratio of 0.95.

Jazz Pharmaceuticals (NASDAQ:JAZZ - Get Free Report) last announced its earnings results on Tuesday, March 31st. The specialty pharmaceutical company reported $6.34 earnings per share for the quarter. Jazz Pharmaceuticals had a net margin of 0.66% and a return on equity of 14.56%. The business had revenue of $1.07 billion during the quarter. On average, sell-side analysts forecast that Jazz Pharmaceuticals will post 20.75 EPS for the current year.

Insider Transactions at Jazz Pharmaceuticals

In other Jazz Pharmaceuticals news, Director Bruce C. Cozadd sold 6,000 shares of Jazz Pharmaceuticals stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $190.50, for a total value of $1,143,000.00. Following the completion of the sale, the director directly owned 384,682 shares of the company's stock, valued at approximately $73,281,921. The trade was a 1.54% decrease in their ownership of the stock. The transaction 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 Jazz Pharmaceuticals stock in a transaction on Monday, March 9th. The shares were sold at an average price of $182.94, for a total transaction of $235,443.78. Following the completion of the sale, the chief accounting officer directly owned 6,512 shares of the company's stock, valued at approximately $1,191,305.28. This trade represents a 16.50% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 74,015 shares of company stock valued at $14,180,486. 4.30% of the stock is owned by insiders.

Institutional Investors Weigh In On Jazz Pharmaceuticals

Several hedge funds and other institutional investors have recently made changes to their positions in JAZZ. Royal Bank of Canada increased its position in shares of Jazz Pharmaceuticals by 96.5% during 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 in the last quarter. Goldman Sachs Group Inc. increased its position in shares of Jazz Pharmaceuticals by 147.7% during 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 in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Jazz Pharmaceuticals by 4.2% during 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 in the last quarter. Focus Partners Wealth increased its position in shares of Jazz Pharmaceuticals by 3.4% during 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 in the last quarter. Finally, Geneos Wealth Management Inc. increased its position in shares of Jazz Pharmaceuticals by 57.6% during 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 in the last quarter. 89.14% of the stock is owned by institutional investors.

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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